Florida Senate - 2019                          SENATOR AMENDMENT
       Bill No. CS for CS for CS for SB 122
       
       
       
       
       
       
                                Ì128452'Î128452                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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                 Floor: NC/2R          .                                
             04/23/2019 12:44 PM       .                                
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       Senator Farmer moved the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 297 - 367
    4  and insert:
    5         Section 2. Section 627.422, Florida Statutes, is amended to
    6  read:
    7         627.422 Assignment of policies or post-loss benefits.—A
    8  policy may be assignable, or not assignable, as provided by its
    9  terms. Any such assignment shall entitle the insurer to deal
   10  with the assignee as the owner or pledgee of the policy in
   11  accordance with the terms of the assignment, until the insurer
   12  has received at its home office written notice of termination of
   13  the assignment or pledge or written notice by or on behalf of
   14  some other person claiming some interest in the policy in
   15  conflict with the assignment.
   16         (1) LIFE OR HEALTH INSURANCE POLICIES.—Subject to its terms
   17  relating to assignability, any life or health insurance policy
   18  under the terms of which the beneficiary may be changed upon the
   19  sole request of the policyowner may be assigned either by pledge
   20  or transfer of title, by an assignment executed by the
   21  policyowner alone and delivered to the insurer, whether or not
   22  the pledgee or assignee is the insurer. Any such assignment
   23  shall entitle the insurer to deal with the assignee as the owner
   24  or pledgee of the policy in accordance with the terms of the
   25  assignment, until the insurer has received at its home office
   26  written notice of termination of the assignment or pledge or
   27  written notice by or on behalf of some other person claiming
   28  some interest in the policy in conflict with the assignment.
   29         (2) POST-LOSS BENEFITS UNDER CERTAIN PROPERTY INSURANCE
   30  POLICIES.—A residential or commercial property insurance policy
   31  may not prohibit the assignment of post-loss benefits.
   32  
   33  ================= T I T L E  A M E N D M E N T ================
   34  And the title is amended as follows:
   35         Delete lines 29 - 40
   36  and insert:
   37         providing applicability; amending s. 627.422, F.S.;
   38         providing that residential or commercial property
   39         insurance policies may not prohibit the assignment of
   40         post-lost benefits; prohibiting Citizens