1 | A bill to be entitled |
2 | An act relating to corporation not for profit self- |
3 | insurance funds; amending s. 624.4625, F.S.; deleting |
4 | a requirement that a participating member of a |
5 | corporation not for profit self-insurance fund receive |
6 | at least a specified percentage of its revenues from |
7 | certain governmental sources; providing an effective |
8 | date. |
9 |
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10 | Be It Enacted by the Legislature of the State of Florida: |
11 |
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12 | Section 1. Paragraphs (c) through (j) of subsection (1) of |
13 | section 624.4625, Florida Statutes, are redesignated as |
14 | paragraphs (b) through (i), respectively, and present paragraph |
15 | (b) of that subsection is amended to read: |
16 | 624.4625 Corporation not for profit self-insurance funds.- |
17 | (1) Notwithstanding any other provision of law, any two or |
18 | more corporations not for profit located in and organized under |
19 | the laws of this state may form a self-insurance fund for the |
20 | purpose of pooling and spreading liabilities of its group |
21 | members in any one or combination of property or casualty risk, |
22 | provided the corporation not for profit self-insurance fund that |
23 | is created: |
24 | (b) Requires for qualification that each participating |
25 | member receive at least 75 percent of its revenues from local, |
26 | state, or federal governmental sources or a combination of such |
27 | sources. |
28 | Section 2. This act shall take effect July 1, 2012. |