March 24, 2019
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Amendment CaShTmL-305562.HTM
                                                  SENATE AMENDMENT
    Bill No. SB 594
    Amendment No. ___   Barcode 305562
                            CHAMBER ACTION
              Senate                               House
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 1                  WD/2R          .                    
       04/29/2003 03:29 PM         .                    
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 4  ______________________________________________________________
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11  Senator Posey moved the following amendment:
12  
13         Senate Amendment (with title amendment) 
14         On page 1, between lines 26 and 27,
15  
16  insert:  
17         Section 2.  Section 624.4623, Florida Statutes, is
18  created to read:
19         624.4623 Educational institutions; self-insurance
20  funds.--
21         (1)  Notwithstanding any other provision of law, any
22  two or more independent nonprofit colleges or universities
23  accredited by the Commission on Colleges of the Southern
24  Association of Colleges and Schools or independent, nonprofit,
25  accredited secondary educational institutions, located in and
26  chartered by this state, may form a self-insurance fund for
27  the purpose of pooling and spreading liabilities of its group
28  members in any property or casualty risk or surety insurance
29  or securing the payment of benefits under chapter 440;
30  however, the independent educational institution
31  self-insurance fund that is created must:
                                  1
    9:10 AM   04/27/03                                s0594c-24c5t

SENATE AMENDMENT Bill No. SB 594 Amendment No. ___ Barcode 305562 1 (a) Have annual normal premiums in excess of $5 2 million; 3 (b) Maintain a continuing program of excess insurance 4 coverage and reserve evaluation to protect the financial 5 stability of the fund in an amount and manner determined by a 6 qualified and independent actuary; 7 (c) Submit annually an audited fiscal year-end 8 financial statement by an independent certified public 9 accountant within 6 months after the end of the fiscal year to 10 the office; and 11 (d) Have a governing body that is comprised entirely 12 of independent educational institution officials. 13 (2) An independent educational institution 14 self-insurance fund that meets the requirements of this 15 section is not subject to s. 624.4621 and is not required to 16 file any report with the department under s. 440.38(2)(b) 17 which is uniquely required of group self-insurer funds 18 qualified under s. 624.4621. If any of the requirements of 19 this section are not met, the independent educational 20 self-insurance fund is subject to the requirements of s. 21 624.4621. 22 23 (Redesignate subsequent sections.) 24 25 26 ================ T I T L E A M E N D M E N T =============== 27 And the title is amended as follows: 28 On page 1, line 6, following the semicolon 29 30 insert: 31 creating s. 624.4623, F.S.; authorizing certain 2 9:10 AM 04/27/03 s0594c-24c5t
SENATE AMENDMENT Bill No. SB 594 Amendment No. ___ Barcode 305562 1 independent nonprofit colleges, or 2 universities, or other educational institutions 3 to form a self-insurance fund; 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 3 9:10 AM 04/27/03 s0594c-24c5t
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