Florida Senate - 2015                        COMMITTEE AMENDMENT
       Bill No. PCS (570694) for CS for SB 1222
       
       
       
       
       
       
                                Ì442200VÎ442200                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  04/15/2015           .                                
                                       .                                
                                       .                                
                                       .                                
       —————————————————————————————————————————————————————————————————




       —————————————————————————————————————————————————————————————————
       The Committee on Fiscal Policy (Hays) recommended the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 430 - 440
    4  and insert:
    5         Section 9. Subsection (3) of section 626.7354, Florida
    6  Statutes, is amended to read:
    7         626.7354 Customer representative’s powers; agent’s or
    8  agency’s responsibility.—
    9         (3) A customer representative shall be a salaried employee
   10  of the agent or agency. His or her compensation shall not
   11  include commissions and shall not be primarily based on
   12  commissions or the production of applications, insurance, or
   13  premiums.
   14         Section 10. Section 626.748, Florida Statutes, is amended
   15  to read:
   16         626.748 Agent’s records.—Every agent transacting any
   17  insurance policy must maintain in his or her office, or have
   18  readily accessible by electronic or photographic means, for a
   19  period of at last 5 years after policy expiration, such records
   20  of policies transacted by him or her as to enable the
   21  policyholders and department to obtain all necessary
   22  information, including daily reports, applications, change
   23  endorsements, or documents signed or initialed by the insured
   24  concerning such policies.
   25         Section 11. Subsection (1) of section 626.753, Florida
   26  Statutes, is amended to read:
   27         626.753 Sharing commissions; penalty.—
   28         (1)(a) An agent may divide or share in commissions only
   29  with other agents appointed and licensed to write the same kind
   30  or kinds of insurance or may divide commissions with a customer
   31  representative.
   32         (b) This section shall not be construed to prevent the
   33  payment or receipt of renewal commissions or other deferred
   34  commissions or pensions to or by any person solely because such
   35  person has ceased to hold a license to act as an insurance agent
   36  or customer representative, and shall not prevent the payment of
   37  renewal commissions or other deferred commissions to any
   38  incorporated insurance agency solely because any of its
   39  stockholders has ceased to hold a license to act as an insurance
   40  agent or customer representative.
   41         (c) A customer representative may share in commissions with
   42  an agent.
   43  
   44  ================= T I T L E  A M E N D M E N T ================
   45  And the title is amended as follows:
   46         Delete line 23
   47  and insert:
   48         representative’s license; amending s. 626.7354, F.S;
   49         revising provisions relating to customer
   50         representative compensation to allow the receipt of
   51         commissions by such representatives if the commissions
   52         do not constitute the primary source of compensation;
   53         amending s. 626.748, F.S.; requiring agents to
   54         maintain certain records for a specified period of
   55         time; amending s. 626.753, F.S.; conforming provisions
   56         to changes made by act;