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Florida Senate - 2008 SENATOR AMENDMENT

Bill No. CS for CS for SB's 2860 & 1196

220964

CHAMBER ACTION

Senate

Floor: 3/F/2R

4/10/2008 10:38 AM

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House



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Senator Lawson moved the following amendment:

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     Senate Amendment (with title amendment)

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     Delete line(s) 497-551

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and insert:

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     Section 4.  Subsections (2) and (3) of section 624.4211,

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Florida Statutes, are amended to read:

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     624.4211  Administrative fine in lieu of suspension or

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revocation.--

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     (2) With respect to any nonwillful violation, such fine may

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shall not exceed $5,000 $2,500 per violation. In no event shall

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such fine exceed an aggregate amount of $20,000 $10,000 for all

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nonwillful violations arising out of the same action. If When an

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insurer discovers a nonwillful violation, the insurer shall

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correct the violation and, if restitution is due, make

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restitution to all affected persons. Such restitution shall

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include interest at 12 percent per year from either the date of

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the violation or the date of inception of the affected person's

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policy, at the insurer's option. The restitution may be a credit

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against future premiums due provided that the interest

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accumulates shall accumulate until the premiums are due. If the

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amount of restitution due to any person is $50 or more and the

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insurer wishes to credit it against future premiums, it shall

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notify such person that she or he may receive a check instead of

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a credit. If the credit is on a policy that which is not renewed,

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the insurer shall pay the restitution to the person to whom it is

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due.

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     (3)  With respect to any knowing and willful violation of a

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lawful order or rule of the office or commission or a provision

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of this code, the office may impose a fine upon the insurer in an

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amount not to exceed $40,000 $20,000 for each such violation. In

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no event shall such fine exceed an aggregate amount of $200,000

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$100,000 for all knowing and willful violations arising out of

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the same action. In addition to such fines, the such insurer

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shall make restitution when due in accordance with the provisions

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of subsection (2).

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================ T I T L E  A M E N D M E N T ================

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And the title is amended as follows:

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     Delete line(s) 40-45

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and insert:

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by the Office of Insurance Regulation for nonwillful and

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willful violations of an order or rule of the office or

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any provision of the Florida Insurance Code; creating s.

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624.4213,

4/9/2008  4:43:00 PM     6-07172-08

CODING: Words stricken are deletions; words underlined are additions.

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