January 24, 2020
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Amendment CaShTmL-241388.HTM
                                                  SENATE AMENDMENT
    Bill No. CS for CS for SB 2994
    Amendment No. ___   Barcode 241388
                            CHAMBER ACTION
              Senate                               House
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       04/26/2004 12:28 PM         .                    
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11  Senator Posey moved the following amendment:
12  
13         Senate Amendment (with title amendment) 
14         On page 25, between lines 19 and 20,
15  
16  insert:  
17         Section 17.  Subsections (3) and (4) are added to
18  section 624.4622, Florida Statutes, to read:
19         624.4622  Local government self-insurance funds.--
20         (3)  Notwithstanding subsection (2), a local government
21  self-insurance fund created under this section after October
22  1, 2004, shall initially be subject to the requirements of a
23  commercial fund under s. 624.4621 and, for the first 5 years
24  of its existence, shall be subject to all the requirements
25  applied to commercial self-insurance funds or to group
26  self-insurance funds, respectively.
27         (4)(a)  A local government self-insurance fund formed
28  after January 1, 2005, shall, for its first 5 fiscal years,
29  file with the office full and true statements of its financial
30  condition, transactions, and affairs. An annual statement
31  covering the preceding fiscal year shall be filed within 60
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    9:44 PM   04/23/04                              s2994c2c-24e0a

SENATE AMENDMENT Bill No. CS for CS for SB 2994 Amendment No. ___ Barcode 241388 1 days after the end of the fund's fiscal year and quarterly 2 statements shall be filed within 45 days after each such date. 3 The office may, for good cause, grant an extension of time for 4 filing an annual or quarterly statement. The statements shall 5 contain information generally included in insurers' financial 6 statements prepared in accordance with generally accepted 7 insurance accounting principles and practices and in a form 8 generally used by insurers for financial statements, sworn to 9 by at least two executive officers of the self-insurance fund. 10 The form for financial statements shall be the form currently 11 approved by the National Association of Insurance 12 Commissioners for use by property and casualty insurers. 13 (b) Each annual statement shall contain a statement of 14 opinion on loss and loss adjustment expense reserves made by a 15 member of the American Academy of Actuaries. Workpapers in 16 support of the statement of opinion must be provided to the 17 office upon request. 18 19 (Redesignate subsequent sections.) 20 21 22 ================ T I T L E A M E N D M E N T =============== 23 And the title is amended as follows: 24 On page 3, line 8, after the semicolon, 25 26 insert: 27 amending s. 624.4622, F.S.; providing that a 28 local government self-insurance fund must 29 initially be organized as a commercial 30 self-insurance fund or a group self-insurance 31 fund and, for a specified period, must comply 2 9:44 PM 04/23/04 s2994c2c-24e0a
SENATE AMENDMENT Bill No. CS for CS for SB 2994 Amendment No. ___ Barcode 241388 1 with the requirements for such a fund; 2 providing that a local government 3 self-insurance fund comply with specified 4 provisions relating to financial statements; 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 9:44 PM 04/23/04 s2994c2c-24e0a
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