Florida Senate - 2013                              CS for SB 242
       
       
       
       By the Committee on Banking and Insurance; and Senator Hukill
       
       
       
       
       597-03466-13                                           2013242c1
    1                        A bill to be entitled                      
    2         An act relating to the Interstate Insurance Product
    3         Regulation Compact; providing legislative findings and
    4         intent; providing purposes; providing definitions;
    5         providing for the establishment of an Interstate
    6         Insurance Product Regulation Commission; providing
    7         responsibilities of the commission; specifying the
    8         commission as an instrumentality of the compacting
    9         states; providing for venue; specifying the commission
   10         as a separate, not-for-profit entity; providing powers
   11         of the commission; providing for organization of the
   12         commission; providing for membership, voting, and
   13         bylaws; designating the Commissioner of Insurance
   14         Regulation as the representative of the state on the
   15         commission; allowing the Commissioner of Insurance to
   16         designate a person to represent the state on the
   17         commission, as is necessary, to fulfill the duties of
   18         being a member of the commission; providing for a
   19         management committee, officers, and personnel of the
   20         commission; providing authority of the management
   21         committee; providing for legislative and advisory
   22         committees; providing for qualified immunity, defense,
   23         and indemnification of members, officers, employees,
   24         and representatives of the commission; providing for
   25         meetings and acts of the commission; providing rules
   26         and operating procedures; providing rulemaking
   27         functions of the commission; providing for opting out
   28         of uniform standards; providing procedures and
   29         requirements; providing for commission records and
   30         enforcement; authorizing the commission to adopt
   31         rules; providing for disclosure of certain
   32         information; specifying that certain records, data, or
   33         information of the commission, wherever received, by
   34         and in possession of the Office of Insurance
   35         Regulation is subject to ch. 119, F.S.; requiring the
   36         commission to monitor for compliance; providing for
   37         dispute resolution; providing for product filing and
   38         approval; requiring the commission to establish filing
   39         and review processes and procedures; providing for
   40         review of commission decisions regarding filings;
   41         providing for finance of commission activities;
   42         providing for payment of expenses; authorizing the
   43         commission to collect filing fees for certain
   44         purposes; providing for approval of a commission
   45         budget; exempting the commission from all taxation,
   46         except as otherwise provided; prohibiting the
   47         commission from pledging the credit of any compacting
   48         states without authority; requiring the commission to
   49         keep complete accurate accounts, provide for audits,
   50         and make annual reports to the Governors and
   51         Legislatures of compacting states; providing for
   52         amendment of the compact; providing for withdrawal
   53         from the compact, default by compacting states, and
   54         dissolution of the compact; providing severability and
   55         construction; providing for binding effect of this
   56         compact and other laws; prospectively opting out of
   57         all uniform standards adopted by the commission
   58         involving long-term care insurance products; adopting
   59         all other existing uniform standards that have been
   60         adopted by the commission; providing a procedure for
   61         adoption of any new uniform standards or amendments to
   62         existing uniform standards of the commission;
   63         requiring the office to notify the Legislature of any
   64         new uniform standards or amendments to existing
   65         uniform standards of the commission; providing that
   66         any new uniform standards or amendments to existing
   67         uniform standards of the commission may only be
   68         adopted via legislation; authorizing the Financial
   69         Services Commission to adopt rules to implement this
   70         act and opt out of certain uniform standards;
   71         providing an effective date.
   72  
   73  Be It Enacted by the Legislature of the State of Florida:
   74  
   75         Section 1. Legislative findings; intent.—
   76         (1) The Legislature finds that the financial services
   77  marketplace has changed significantly in recent years and that
   78  asset-based insurance products, which include life insurance,
   79  annuities, disability income insurance, and long-term care
   80  insurance, now compete directly with other retirement and estate
   81  planning instruments that are sold by banks and securities
   82  firms.
   83         (2) The Legislature further finds that the increased
   84  mobility of the population and the risks borne by these asset
   85  based products are not local in nature.
   86         (3) The Legislature further finds that the Interstate
   87  Insurance Product Regulation Compact Model adopted by the
   88  National Association of Insurance Commissioners and endorsed by
   89  the National Conference of Insurance Legislators and the
   90  National Conference of State Legislatures is designed to address
   91  these market changes by providing a uniform set of product
   92  standards and a single source for filing of new products.
   93         (4) The Legislature further finds that the product
   94  standards that have been developed provide a high level of
   95  consumer protection. Further, it is noted that the Interstate
   96  Insurance Product Regulation Compact Model includes a mechanism
   97  for opting out of any product standard that the state determines
   98  would not reasonably protect its citizens. With respect to long
   99  term care insurance, the Legislature understands that the
  100  compact does not intend to develop a uniform standard for rate
  101  increase filings, thereby leaving the authority over long-term
  102  care rate increases with the state. The state relies on that
  103  understanding in adopting this legislation. The state, pursuant
  104  to the terms and conditions of this act, seeks to join with
  105  other states and establish the Interstate Insurance Product
  106  Regulation Compact, and thus become a member of the Interstate
  107  Insurance Product Regulation Commission. The Commissioner of
  108  Insurance Regulation is hereby designated to serve as the
  109  representative of this state on the commission. The commissioner
  110  may designate a person to represent this state on the
  111  commission, as is necessary, in order to fulfill the duties of
  112  being a member of the commission.
  113         Section 2. Interstate Insurance Product Regulation
  114  Compact.—The Interstate Insurance Product Regulation Compact is
  115  hereby enacted into law and entered into by this state with all
  116  states legally joining therein in the form substantially as
  117  follows:
  118  
  119           Interstate Insurance Product Regulation Compact         
  120  
  121                              Preamble                             
  122  
  123  This compact is intended to help states join together to
  124  establish an interstate compact to regulate designated insurance
  125  products. Pursuant to the terms and conditions of this compact,
  126  this state seeks to join with other states and establish the
  127  Interstate Insurance Product Regulation Compact and thus become
  128  a member of the Interstate Insurance Product Regulation
  129  Commission.
  130  
  131                              Article I                            
  132  
  133         PURPOSES.—The purposes of this compact are, through means
  134  of joint and cooperative action among the compacting states, to:
  135         (1) Promote and protect the interest of consumers of
  136  individual and group annuity, life insurance, disability income,
  137  and long-term care insurance products.
  138         (2) Develop uniform standards for insurance products
  139  covered under the compact.
  140         (3) Establish a central clearinghouse to receive and
  141  provide prompt review of insurance products covered under the
  142  compact and, in certain cases, advertisements related thereto,
  143  submitted by insurers authorized to do business in one or more
  144  compacting states.
  145         (4) Give appropriate regulatory approval to those product
  146  filings and advertisements satisfying the applicable uniform
  147  standard.
  148         (5) Improve coordination of regulatory resources and
  149  expertise between state insurance departments regarding the
  150  setting of uniform standards and review of insurance products
  151  covered under the compact.
  152         (6) Create the Interstate Insurance Product Regulation
  153  Commission.
  154         (7) Perform these and such other related functions as may
  155  be consistent with the state regulation of the business of
  156  insurance.
  157  
  158                             Article II                            
  159  
  160         DEFINITIONS.—For purposes of this compact, the term:
  161         (1) “Advertisement” means any material designed to create
  162  public interest in a product, or induce the public to purchase,
  163  increase, modify, reinstate, borrow on, surrender, replace, or
  164  retain a policy, as more specifically defined in the rules and
  165  operating procedures of the commission adopted as of March 1,
  166  2013, and subsequent amendments thereto if the methodology
  167  remains substantially consistent.
  168         (2) “Bylaws” means those bylaws adopted by the commission
  169  as of March 1, 2013, for its governance or for directing or
  170  controlling the commission’s actions or conduct.
  171         (3) “Compacting state” means any state which has enacted
  172  this compact legislation and has not withdrawn pursuant to
  173  subsection (1) of Article XIV of this compact or been terminated
  174  pursuant to subsection (2) of Article XIV of this compact.
  175         (4) “Commission” means the “Interstate Insurance Product
  176  Regulation Commission” established by this compact.
  177         (5) “Commissioner” means the chief insurance regulatory
  178  official of a state, including, but not limited to, the
  179  commissioner, superintendent, director, or administrator. For
  180  purposes of this compact, the Commissioner of Insurance
  181  Regulation is the chief insurance regulatory official of this
  182  state.
  183         (6) “Domiciliary state” means the state in which an insurer
  184  is incorporated or organized or, in the case of an alien
  185  insurer, its state of entry.
  186         (7) “Insurer” means any entity licensed by a state to issue
  187  contracts of insurance for any of the lines of insurance covered
  188  by this compact.
  189         (8) “Member” means the person chosen by a compacting state
  190  as its representative to the commission, or his or her designee.
  191         (9) “Noncompacting state” means any state which is not at
  192  the time a compacting state.
  193         (10) “Office” means the Office of Insurance Regulation of
  194  the Financial Services Commission.
  195         (11) “Operating procedures” means procedures adopted by the
  196  commission as of March 1, 2013, and subsequent amendments
  197  thereto if the methodology remains substantially consistent,
  198  implementing a rule, uniform standard, or provision of this
  199  compact.
  200         (12) “Product” means the form of a policy or contract,
  201  including any application, endorsement, or related form which is
  202  attached to and made a part of the policy or contract, and any
  203  evidence of coverage or certificate, for an individual or group
  204  annuity, life insurance, disability income, or long-term care
  205  insurance product that an insurer is authorized to issue.
  206         (13) “Rule” means a statement of general or particular
  207  applicability and future effect adopted by the commission as of
  208  March 1, 2013, and subsequent amendments thereto if the
  209  methodology remains substantially consistent, including a
  210  uniform standard developed pursuant to Article VII of this
  211  compact, designed to implement, interpret, or prescribe law or
  212  policy or describe the organization, procedure, or practice
  213  requirements of the commission, which shall have the force and
  214  effect of law in the compacting states.
  215         (14) “State” means any state, district, or territory of the
  216  United States.
  217         (15) “Third-party filer” means an entity that submits a
  218  product filing to the commission on behalf of an insurer.
  219         (16) “Uniform standard” means a standard adopted by the
  220  commission as of March 1, 2013, and subsequent amendments
  221  thereto if the methodology remains substantially consistent, for
  222  a product line pursuant to Article VII of this compact and shall
  223  include all of the product requirements in aggregate; provided,
  224  each uniform standard shall be construed, whether express or
  225  implied, to prohibit the use of any inconsistent, misleading, or
  226  ambiguous provisions in a product and the form of the product
  227  made available to the public shall not be unfair, inequitable,
  228  or against public policy as determined by the commission.
  229  
  230                             Article III                           
  231  
  232         COMMISSION; ESTABLISHMENT; VENUE.—
  233         (1) The compacting states hereby create and establish a
  234  joint public agency known as the Interstate Insurance Product
  235  Regulation Commission. Pursuant to Article IV of this compact,
  236  the commission has the power to develop uniform standards for
  237  product lines, receive and provide prompt review of products
  238  filed with the commission, and give approval to those product
  239  filings satisfying applicable uniform standards; provided, it is
  240  not intended for the commission to be the exclusive entity for
  241  receipt and review of insurance product filings. Nothing in this
  242  article shall prohibit any insurer from filing its product in
  243  any state in which the insurer is licensed to conduct the
  244  business of insurance and any such filing shall be subject to
  245  the laws of the state where filed.
  246         (2) The commission is a body corporate and politic and an
  247  instrumentality of the compacting states.
  248         (3) The commission is solely responsible for its
  249  liabilities, except as otherwise specifically provided in this
  250  compact.
  251         (4) Venue is proper and judicial proceedings by or against
  252  the commission shall be brought solely and exclusively in a
  253  court of competent jurisdiction where the principal office of
  254  the commission is located.
  255         (5) The commission is a not-for-profit entity, separate and
  256  distinct from the individual compacting states.
  257  
  258                             Article IV                            
  259  
  260         POWERS.—The commission shall have the following powers to:
  261         (1) Adopt rules, pursuant to Article VII, which shall have
  262  the force and effect of law and shall be binding in the
  263  compacting states to the extent and in the manner provided in
  264  this compact.
  265         (2) Exercise its rulemaking authority and establish
  266  reasonable uniform standards for products covered under the
  267  compact, and advertisement related thereto, which shall have the
  268  force and effect of law and shall be binding in the compacting
  269  states, but only for those products filed with the commission;
  270  provided a compacting state shall have the right to opt out of
  271  such uniform standard pursuant to Article VII to the extent and
  272  in the manner provided in this compact and any uniform standard
  273  established by the commission for long-term care insurance
  274  products may provide the same or greater protections for
  275  consumers as, but shall provide at least, those protections set
  276  forth in the National Association of Insurance Commissioners’
  277  Long-Term Care Insurance Model Act and Long-Term Care Insurance
  278  Model Regulation, respectively, adopted as of 2001. The
  279  commission shall consider whether any subsequent amendments to
  280  the National Association of Insurance Commissioners’ Long-Term
  281  Care Insurance Model Act or Long-Term Care Insurance Model
  282  Regulation adopted by the National Association of Insurance
  283  Commissioners require amending of the uniform standards
  284  established by the commission for long-term care insurance
  285  products.
  286         (3) Receive and review in an expeditious manner products
  287  filed with the commission and rate filings for disability income
  288  and long-term care insurance products and give approval of those
  289  products and rate filings that satisfy the applicable uniform
  290  standard, and such approval shall have the force and effect of
  291  law and be binding on the compacting states to the extent and in
  292  the manner provided in the compact.
  293         (4) Receive and review in an expeditious manner
  294  advertisement relating to long-term care insurance products for
  295  which uniform standards have been adopted by the commission, and
  296  give approval to all advertisement that satisfies the applicable
  297  uniform standard. For any product covered under this compact,
  298  other than long-term care insurance products, the commission
  299  shall have the authority to require an insurer to submit all or
  300  any part of its advertisement with respect to that product for
  301  review or approval prior to use, if the commission determines
  302  that the nature of the product is such that an advertisement of
  303  the product could have the capacity or tendency to mislead the
  304  public. The actions of the commission as provided in this
  305  subsection shall have the force and effect of law and shall be
  306  binding in the compacting states to the extent and in the manner
  307  provided in the compact.
  308         (5) Exercise its rulemaking authority and designate
  309  products and advertisement that may be subject to a self
  310  certification process without the need for prior approval by the
  311  commission.
  312         (6) Adopt operating procedures, pursuant to Article VII,
  313  which shall be binding in the compacting states to the extent
  314  and in the manner provided in this compact.
  315         (7) Bring and prosecute legal proceedings or actions in its
  316  name as the commission; provided the standing of any state
  317  insurance department to sue or be sued under applicable law
  318  shall not be affected.
  319         (8) Issue subpoenas requiring the attendance and testimony
  320  of witnesses and the production of evidence.
  321         (9) Establish and maintain offices.
  322         (10) Purchase and maintain insurance and bonds.
  323         (11) Borrow, accept, or contract for services of personnel,
  324  including, but not limited to, employees of a compacting state.
  325  Any action under this subsection concerning employees of this
  326  state may only be taken upon the express written consent of the
  327  state.
  328         (12) Hire employees, professionals, or specialists; elect
  329  or appoint officers and fix their compensation, define their
  330  duties, give them appropriate authority to carry out the
  331  purposes of the compact, and determine their qualifications; and
  332  establish the commission’s personnel policies and programs
  333  relating to, among other things, conflicts of interest, rates of
  334  compensation, and qualifications of personnel.
  335         (13) Accept any and all appropriate donations and grants of
  336  money, equipment, supplies, materials, and services and to
  337  receive, use, and dispose of the same; provided at all times the
  338  commission shall avoid any appearance of impropriety.
  339         (14) Lease, purchase, and accept appropriate gifts or
  340  donations of, or otherwise to own, hold, improve, or use, any
  341  property, real, personal, or mixed; provided at all times the
  342  commission shall avoid any appearance of impropriety.
  343         (15) Sell, convey, mortgage, pledge, lease, exchange,
  344  abandon, or otherwise dispose of any property, real, personal,
  345  or mixed.
  346         (16) Remit filing fees to compacting states as may be set
  347  forth in the bylaws, rules, or operating procedures.
  348         (17) Enforce compliance by compacting states with rules,
  349  uniform standards, operating procedures, and bylaws.
  350         (18) Provide for dispute resolution among compacting
  351  states.
  352         (19) Advise compacting states on issues relating to
  353  insurers domiciled or doing business in noncompacting
  354  jurisdictions, consistent with the purposes of this compact.
  355         (20) Provide advice and training to those personnel in
  356  state insurance departments responsible for product review and
  357  to be a resource for state insurance departments.
  358         (21) Establish a budget and make expenditures.
  359         (22) Borrow money, provided that this power does not, in
  360  any manner, obligate the financial resources of the State of
  361  Florida.
  362         (23) Appoint committees, including advisory committees,
  363  comprising members, state insurance regulators, state
  364  legislators or their representatives, insurance industry and
  365  consumer representatives, and such other interested persons as
  366  may be designated in the bylaws.
  367         (24) Provide and receive information from and to cooperate
  368  with law enforcement agencies.
  369         (25) Adopt and use a corporate seal.
  370         (26) Perform such other functions as may be necessary or
  371  appropriate to achieve the purposes of this compact consistent
  372  with the state regulation of the business of insurance.
  373  
  374                              Article V                            
  375  
  376         ORGANIZATION.—
  377         (1) Membership; voting; bylaws.—
  378         (a)1. Each compacting state shall have and be limited to
  379  one member. Each member shall be qualified to serve in that
  380  capacity pursuant to applicable law of the compacting state. Any
  381  member may be removed or suspended from office as provided by
  382  the law of the state from which he or she is appointed. Any
  383  vacancy occurring in the commission shall be filled in
  384  accordance with the laws of the compacting state in which the
  385  vacancy exists. Nothing in this article shall be construed to
  386  affect the manner in which a compacting state determines the
  387  election or appointment and qualification of its own
  388  commissioner. However, the commissioner may designate a person
  389  to represent this state on the commission, as is necessary, in
  390  order to fulfill the duties of being a member of the commission.
  391         2. The Commissioner of Insurance Regulation is hereby
  392  designated to serve as the representative of this state on the
  393  commission. However, the commissioner may designate a person to
  394  represent this state on the commission, as is necessary, in
  395  order to fulfill the duties of being a member of the commission.
  396         (b) Each member shall be entitled to one vote and shall
  397  have an opportunity to participate in the governance of the
  398  commission in accordance with the bylaws. Notwithstanding any
  399  other provision of this article, no action of the commission
  400  with respect to the adoption of a uniform standard shall be
  401  effective unless two-thirds of the members vote in favor of such
  402  action.
  403         (c) The commission shall, by a majority of the members,
  404  prescribe bylaws to govern its conduct as may be necessary or
  405  appropriate to carry out the purposes and exercise the powers of
  406  the compact, including, but not limited to:
  407         1. Establishing the fiscal year of the commission.
  408         2. Providing reasonable procedures for appointing and
  409  electing members, as well as holding meetings, of the management
  410  committee.
  411         3. Providing reasonable standards and procedures:
  412         a. For the establishment and meetings of other committees.
  413         b. Governing any general or specific delegation of any
  414  authority or function of the commission.
  415         4. Providing reasonable procedures for calling and
  416  conducting meetings of the commission that consist of a majority
  417  of commission members, ensuring reasonable advance notice of
  418  each such meeting, and providing for the right of citizens to
  419  attend each such meeting with enumerated exceptions designed to
  420  protect the public’s interest, the privacy of individuals, and
  421  insurers’ proprietary information, including, but not limited
  422  to, trade secrets. The commission may meet in camera only after
  423  a majority of the entire membership votes to close a meeting in
  424  total or in part. The commissioner of this state, or the
  425  commissioner’s designee, may attend, or otherwise participate
  426  in, a meeting or executive session that is closed in total or
  427  part to the extent such attendance or participation is
  428  consistent with Florida law. As soon as practicable, the
  429  commission must make public a copy of the vote to close the
  430  meeting revealing the vote of each member with no proxy votes
  431  allowed, and votes taken during such meeting. All notices of
  432  commission meetings, including instructions for public
  433  participation, provided to the office, the commissioner, or the
  434  commissioner’s designee shall be published in the Florida
  435  Administrative Register.
  436         5. Establishing the titles, duties, and authority and
  437  reasonable procedures for the election of the officers of the
  438  commission.
  439         6. Providing reasonable standards and procedures for the
  440  establishment of the personnel policies and programs of the
  441  commission. Notwithstanding any civil service or other similar
  442  laws of any compacting state, the bylaws shall exclusively
  443  govern the personnel policies and programs of the commission.
  444         7. Adopting a code of ethics to address permissible and
  445  prohibited activities of commission members and employees. This
  446  code does not supersede or otherwise limit the obligations and
  447  duties of this state’s commissioner or the commissioner’s
  448  designee under ethics laws or rules of the State of Florida. To
  449  the extent there is any inconsistency between the standards
  450  imposed by this code and the standards imposed under this
  451  state’s ethics laws or rules, the commissioner or the
  452  commissioner’s designee must adhere to the stricter standard of
  453  conduct.
  454         8. Providing a mechanism for winding up the operations of
  455  the commission and the equitable disposition of any surplus
  456  funds that may exist after the termination of the compact after
  457  the payment or reserving of all debts and obligations of the
  458  commission.
  459         (d) The commission shall publish its bylaws in a convenient
  460  form and file a copy of such bylaws and a copy of any amendment
  461  to such bylaws, with the appropriate agency or officer in each
  462  of the compacting states.
  463         (2) Management committee, officers, and personnel.—
  464         (a) A management committee comprising no more than 14
  465  members shall be established as follows:
  466         1. One member from each of the six compacting states with
  467  the largest premium volume for individual and group annuities,
  468  life, disability income, and long-term care insurance products,
  469  determined from the records of the National Association of
  470  Insurance Commissioners for the prior year.
  471         2. Four members from those compacting states with at least
  472  2 percent of the market based on the premium volume described
  473  above, other than the six compacting states with the largest
  474  premium volume, selected on a rotating basis as provided in the
  475  bylaws.
  476         3. Four members from those compacting states with less than
  477  2 percent of the market, based on the premium volume described
  478  above, with one selected from each of the four zone regions of
  479  the National Association of Insurance Commissioners as provided
  480  in the bylaws.
  481         (b) The management committee shall have such authority and
  482  duties as may be set forth in the bylaws, including, but not
  483  limited to:
  484         1. Managing the affairs of the commission in a manner
  485  consistent with the bylaws and purposes of the commission.
  486         2. Establishing and overseeing an organizational structure
  487  within, and appropriate procedures for, the commission to
  488  provide for the creation of uniform standards and other rules,
  489  receipt and review of product filings, administrative and
  490  technical support functions, review of decisions regarding the
  491  disapproval of a product filing, and the review of elections
  492  made by a compacting state to opt out of a uniform standard;
  493  provided a uniform standard shall not be submitted to the
  494  compacting states for adoption unless approved by two-thirds of
  495  the members of the management committee.
  496         3. Overseeing the offices of the commission.
  497         4. Planning, implementing, and coordinating communications
  498  and activities with other state, federal, and local government
  499  organizations in order to advance the goals of the commission.
  500         (c) The commission shall elect annually officers from the
  501  management committee, with each having such authority and duties
  502  as may be specified in the bylaws.
  503         (d) The management committee may, subject to the approval
  504  of the commission, appoint or retain an executive director for
  505  such period, upon such terms and conditions, and for such
  506  compensation as the commission may deem appropriate. The
  507  executive director shall serve as secretary to the commission
  508  but shall not be a member of the commission. The executive
  509  director shall hire and supervise such other staff as may be
  510  authorized by the commission.
  511         (3) Legislative and advisory committees.—
  512         (a) A legislative committee comprised of state legislators
  513  or their designees shall be established to monitor the
  514  operations of and make recommendations to the commission,
  515  including the management committee; provided the manner of
  516  selection and term of any legislative committee member shall be
  517  as set forth in the bylaws. Prior to the adoption by the
  518  commission of any uniform standard, revision to the bylaws,
  519  annual budget, or other significant matter as may be provided in
  520  the bylaws, the management committee shall consult with and
  521  report to the legislative committee.
  522         (b) The commission shall establish two advisory committees,
  523  one comprising consumer representatives independent of the
  524  insurance industry and the other comprising insurance industry
  525  representatives.
  526         (c) The commission may establish additional advisory
  527  committees as the bylaws may provide for the carrying out of
  528  commission functions.
  529         (4) Corporate records of the commission.—The commission
  530  shall maintain its corporate books and records in accordance
  531  with the bylaws.
  532         (5) Qualified immunity, defense and indemnification.—
  533         (a) The members, officers, executive director, employees,
  534  and representatives of the commission shall be immune from suit
  535  and liability, either personally or in their official capacity,
  536  for any claim for damage to or loss of property or personal
  537  injury or other civil liability caused by or arising out of any
  538  actual or alleged act, error, or omission that occurred, or that
  539  the person against whom the claim is made had a reasonable basis
  540  for believing occurred within the scope of commission
  541  employment, duties, or responsibilities; provided nothing in
  542  this paragraph shall be construed to protect any such person
  543  from suit or liability for any damage, loss, injury, or
  544  liability caused by the intentional or willful and wanton
  545  misconduct of that person.
  546         (b) The liability of the members, officers, executive
  547  director, employees, and representatives of the commission
  548  acting within the scope of such persons employment or duties,
  549  for acts, errors, or omissions occurring within this state, may
  550  not exceed the limits of liability set forth under the
  551  constitution and laws of this state for state officials,
  552  employees, and agents. The commission is an instrumentality of
  553  the state for the purposes of any such action. This subsection
  554  does not protect such persons from suit or liability for damage,
  555  loss, injury, or liability caused by a criminal act or the
  556  intentional or willful and wanton misconduct of such person.
  557         (c) The commission shall defend any member, officer,
  558  executive director, employee, or representative of the
  559  commission in any civil action seeking to impose liability
  560  arising out of any actual or alleged act, error, or omission
  561  that occurred within the scope of commission employment, duties,
  562  or responsibilities, or where the person against whom the claim
  563  is made has a reasonable basis for believing occurred within the
  564  scope of commission employment, duties, or responsibilities if
  565  the actual or alleged act, error, or omission did not result
  566  from that person’s intentional or willful and wanton misconduct.
  567  This article does not prohibit that person from retaining his or
  568  her own counsel.
  569         (d) The commission shall indemnify and hold harmless any
  570  member, officer, executive director, employee, or representative
  571  of the commission for the amount of any settlement or judgment
  572  obtained against that person arising out of any actual or
  573  alleged act, error, or omission that occurred within the scope
  574  of commission employment, duties, or responsibilities, or that
  575  such person had a reasonable basis for believing occurred within
  576  the scope of commission employment, duties, or responsibilities;
  577  provided the actual or alleged act, error, or omission did not
  578  result from the intentional or willful and wanton misconduct of
  579  that person.
  580  
  581                             Article VI                            
  582  
  583         MEETINGS; ACTS.—
  584         (1) The commission shall meet and take such actions as are
  585  consistent with the provisions of this compact and the bylaws.
  586         (2) Each member of the commission shall have the right and
  587  power to cast a vote to which that compacting state is entitled
  588  and to participate in the business and affairs of the
  589  commission. A member shall vote in person or by such other means
  590  as provided in the bylaws. The bylaws may provide for members’
  591  participation in meetings by telephone or other means of
  592  communication.
  593         (3) The commission shall meet at least once during each
  594  calendar year. Additional meetings shall be held as set forth in
  595  the bylaws.
  596  
  597                             Article VII                           
  598  
  599         RULES AND OPERATING PROCEDURES; RULEMAKING FUNCTIONS OF THE
  600  COMMISSION; OPTING OUT OF UNIFORM STANDARDS.—
  601         (1) Rulemaking authority.—The commission shall adopt
  602  reasonable rules, including uniform standards, and operating
  603  procedures in order to effectively and efficiently achieve the
  604  purposes of this compact. Notwithstanding such requirement, if
  605  the commission exercises its rulemaking authority in a manner
  606  that is beyond the scope of the purposes of this compact or the
  607  powers granted under this compact, such action by the commission
  608  shall be invalid and have no force and effect.
  609         (2) Rulemaking procedure.—Rules and operating procedures
  610  shall be made pursuant to a rulemaking process that conforms to
  611  the Model State Administrative Procedure Act of 1981, as
  612  amended, as may be appropriate to the operations of the
  613  commission. Before the commission adopts a uniform standard, the
  614  commission shall give written notice to the relevant state
  615  legislative committees in each compacting state responsible for
  616  insurance issues of its intention to adopt the uniform standard.
  617  The commission in adopting a uniform standard shall consider
  618  fully all submitted materials and issue a concise explanation of
  619  its decision.
  620         (3) Effective date and opt out of a uniform standard.—A
  621  uniform standard shall become effective 90 days after its
  622  adoption by the commission or such later date as the commission
  623  may determine; provided a compacting state may opt out of a
  624  uniform standard as provided in this act. The term “opt out”
  625  means any action by a compacting state to decline to adopt or
  626  participate in an adopted uniform standard. All other rules and
  627  operating procedures, and amendments thereto, shall become
  628  effective as of the date specified in each rule, operating
  629  procedure, or amendment.
  630         (4) Opt out procedure.—
  631         (a) A compacting state may opt out of a uniform standard by
  632  legislation or regulation adopted by the compacting state under
  633  such state’s Administrative Procedure Act. If a compacting state
  634  elects to opt out of a uniform standard by regulation, such
  635  state must:
  636         1. Give written notice to the commission no later than 10
  637  business days after the uniform standard is adopted, or at the
  638  time the state becomes a compacting state.
  639         2. Find that the uniform standard does not provide
  640  reasonable protections to the citizens of the state, given the
  641  conditions in the state.
  642         (b) The commissioner of a compacting state other than this
  643  state shall make specific findings of fact and conclusions of
  644  law, based on a preponderance of the evidence, detailing the
  645  conditions in the state which warrant a departure from the
  646  uniform standard and determining that the uniform standard would
  647  not reasonably protect the citizens of the state. The
  648  commissioner must consider and balance the following factors and
  649  find that the conditions in the state and needs of the citizens
  650  of the state outweigh:
  651         1. The intent of the Legislature to participate in, and the
  652  benefits of, an interstate agreement to establish national
  653  uniform consumer protections for the products subject to this
  654  compact.
  655         2. The presumption that a uniform standard adopted by the
  656  commission provides reasonable protections to consumers of the
  657  relevant product.
  658  
  659  Notwithstanding this subsection, a compacting state may, at the
  660  time of its enactment of this compact, prospectively opt out of
  661  all uniform standards involving long-term care insurance
  662  products by expressly providing for such opt out in the enacted
  663  compact, and such an opt out shall not be treated as a material
  664  variance in the offer or acceptance of any state to participate
  665  in this compact. Such an opt out shall be effective at the time
  666  of enactment of this compact by the compacting state and shall
  667  apply to all existing uniform standards involving long-term care
  668  insurance products and those subsequently adopted.
  669         (5) Effect of opting out.—If a compacting state elects to
  670  opt out of a uniform standard, the uniform standard shall remain
  671  applicable in the compacting state electing to opt out until
  672  such time as the opt out legislation is enacted into law or the
  673  regulation opting out becomes effective. Once the opt out of a
  674  uniform standard by a compacting state becomes effective as
  675  provided under the laws of that state, the uniform standard
  676  shall have no further force and effect in that state unless and
  677  until the legislation or regulation implementing the opt out is
  678  repealed or otherwise becomes ineffective under the laws of the
  679  state. If a compacting state opts out of a uniform standard
  680  after the uniform standard has been made effective in that
  681  state, the opt out shall have the same prospective effect as
  682  provided under Article XIV for withdrawals.
  683         (6) Stay of uniform standard.—If a compacting state has
  684  formally initiated the process of opting out of a uniform
  685  standard by regulation, and while the regulatory opt out is
  686  pending, the compacting state may petition the commission, at
  687  least 15 days before the effective date of the uniform standard,
  688  to stay the effectiveness of the uniform standard in that state.
  689  The commission may grant a stay if the commission determines the
  690  regulatory opt out is being pursued in a reasonable manner and
  691  there is a likelihood of success. If a stay is granted or
  692  extended by the commission, the stay or extension thereof may
  693  postpone the effective date by up to 90 days, unless
  694  affirmatively extended by the commission; provided a stay may
  695  not be permitted to remain in effect for more than 1 year unless
  696  the compacting state can show extraordinary circumstances which
  697  warrant a continuance of the stay, including, but not limited
  698  to, the existence of a legal challenge which prevents the
  699  compacting state from opting out. A stay may be terminated by
  700  the commission upon notice that the rulemaking process has been
  701  terminated.
  702         (7) Judicial review.—Within 30 days after a rule or
  703  operating procedure is adopted, any person may file a petition
  704  for judicial review of the rule or operating procedure; provided
  705  the filing of such a petition shall not stay or otherwise
  706  prevent the rule or operating procedure from becoming effective
  707  unless the court finds that the petitioner has a substantial
  708  likelihood of success. The court shall give deference to the
  709  actions of the commission consistent with applicable law and
  710  shall not find the rule or operating procedure to be unlawful if
  711  the rule or operating procedure represents a reasonable exercise
  712  of the commission’s authority.
  713  
  714                            Article VIII                           
  715  
  716         COMMISSION RECORDS AND ENFORCEMENT.—
  717         (1) The commission shall adopt rules establishing
  718  conditions and procedures for public inspection and copying of
  719  its information and official records, except such information
  720  and records involving the privacy of individuals and insurers’
  721  trade secrets. The commission may adopt additional rules under
  722  which the commission may make available to federal and state
  723  agencies, including law enforcement agencies, records and
  724  information otherwise exempt from disclosure and may enter into
  725  agreements with such agencies to receive or exchange information
  726  or records subject to nondisclosure and confidentiality
  727  provisions.
  728         (2) Except as to privileged records, data, and information,
  729  the laws of any compacting state pertaining to confidentiality
  730  or nondisclosure shall not relieve any compacting state
  731  commissioner of the duty to disclose any relevant records, data,
  732  or information to the commission; provided disclosure to the
  733  commission shall not be deemed to waive or otherwise affect any
  734  confidentiality requirement; and further provided, except as
  735  otherwise expressly provided in this compact, the commission
  736  shall not be subject to the compacting state’s laws pertaining
  737  to confidentiality and nondisclosure with respect to records,
  738  data, and information in its possession. Confidential
  739  information of the commission shall remain confidential after
  740  such information is provided to any commissioner; however, all
  741  requests from the public to inspect or copy records, data, or
  742  information of the commission, wherever received, by and in the
  743  possession of the office, commissioner, or the commissioner’s
  744  designee shall be subject to chapter 119, Florida Statutes.
  745         (3) The commission shall monitor compacting states for
  746  compliance with duly adopted bylaws, rules, uniform standards,
  747  and operating procedures. The commission shall notify any
  748  noncomplying compacting state in writing of its noncompliance
  749  with commission bylaws, rules, or operating procedures. If a
  750  noncomplying compacting state fails to remedy its noncompliance
  751  within the time specified in the notice of noncompliance, the
  752  compacting state shall be deemed to be in default as set forth
  753  in Article XIV of this compact.
  754         (4) The commissioner of any state in which an insurer is
  755  authorized to do business or is conducting the business of
  756  insurance shall continue to exercise his or her authority to
  757  oversee the market regulation of the activities of the insurer
  758  in accordance with the provisions of the state’s law. The
  759  commissioner’s enforcement of compliance with the compact is
  760  governed by the following provisions:
  761         (a) With respect to the commissioner’s market regulation of
  762  a product or advertisement that is approved or certified to the
  763  commission, the content of the product or advertisement shall
  764  not constitute a violation of the provisions, standards, or
  765  requirements of the compact except upon a final order of the
  766  commission, issued at the request of a commissioner after prior
  767  notice to the insurer and an opportunity for hearing before the
  768  commission.
  769         (b) Before a commissioner may bring an action for violation
  770  of any provision, standard, or requirement of the compact
  771  relating to the content of an advertisement not approved or
  772  certified to the commission, the commission, or an authorized
  773  commission officer or employee, must authorize the action.
  774  However, authorization pursuant to this paragraph does not
  775  require notice to the insurer, opportunity for hearing, or
  776  disclosure of requests for authorization or records of the
  777  commission’s action on such requests.
  778  
  779                             Article IX                            
  780  
  781         DISPUTE RESOLUTION.—The commission shall attempt, upon the
  782  request of a member, to resolve any disputes or other issues
  783  that are subject to this compact and which may arise between two
  784  or more compacting states, or between compacting states and
  785  noncompacting states, and the commission shall adopt an
  786  operating procedure providing for resolution of such disputes.
  787  
  788                              Article X                            
  789  
  790         PRODUCT FILING AND APPROVAL.—
  791         (1) Insurers and third-party filers seeking to have a
  792  product approved by the commission shall file the product with
  793  and pay applicable filing fees to the commission. Nothing in
  794  this compact shall be construed to restrict or otherwise prevent
  795  an insurer from filing its product with the insurance department
  796  in any state in which the insurer is licensed to conduct the
  797  business of insurance and such filing shall be subject to the
  798  laws of the states where filed.
  799         (2) The commission shall establish appropriate filing and
  800  review processes and procedures pursuant to commission rules and
  801  operating procedures. Notwithstanding any provision of this
  802  article, the commission shall adopt rules to establish
  803  conditions and procedures under which the commission will
  804  provide public access to product filing information. In
  805  establishing such rules, the commission shall consider the
  806  interests of the public in having access to such information, as
  807  well as protection of personal medical and financial information
  808  and trade secrets, that may be contained in a product filing or
  809  supporting information.
  810         (3) Any product approved by the commission may be sold or
  811  otherwise issued in those compacting states for which the
  812  insurer is legally authorized to do business.
  813  
  814                             Article XI                            
  815  
  816         REVIEW OF COMMISSION DECISIONS REGARDING FILINGS.—
  817         (1) Within 30 days after the commission has given notice of
  818  a disapproved product or advertisement filed with the
  819  commission, the insurer or third-party filer whose filing was
  820  disapproved may appeal the determination to a review panel
  821  appointed by the commission. The commission shall adopt rules to
  822  establish procedures for appointing such review panels and
  823  provide for notice and hearing. An allegation that the
  824  commission, in disapproving a product or advertisement filed
  825  with the commission, acted arbitrarily, capriciously, or in a
  826  manner that is an abuse of discretion or otherwise not in
  827  accordance with the law, is subject to judicial review in
  828  accordance with subsection (4) of Article III.
  829         (2) The commission shall have authority to monitor, review,
  830  and reconsider products and advertisement subsequent to their
  831  filing or approval upon a finding that the product does not meet
  832  the relevant uniform standard. Where appropriate, the commission
  833  may withdraw or modify its approval after proper notice and
  834  hearing, subject to the appeal process in subsection (1).
  835  
  836                             Article XII                           
  837  
  838         FINANCE.—
  839         (1) The commission shall pay or provide for the payment of
  840  the reasonable expenses of the commission’s establishment and
  841  organization. To fund the cost of the commission’s initial
  842  operations, the commission may accept contributions and other
  843  forms of funding from the National Association of Insurance
  844  Commissioners, compacting states, and other sources.
  845  Contributions and other forms of funding from other sources
  846  shall be of such a nature that the independence of the
  847  commission concerning the performance of commission duties shall
  848  not be compromised.
  849         (2) The commission shall collect a filing fee from each
  850  insurer and third-party filer filing a product with the
  851  commission to cover the cost of the operations and activities of
  852  the commission and its staff in a total amount sufficient to
  853  cover the commission’s annual budget.
  854         (3) The commission’s budget for a fiscal year shall not be
  855  approved until the budget has been subject to notice and comment
  856  as set forth in Article VII.
  857         (4) The commission shall be exempt from all taxation in and
  858  by the compacting states.
  859         (5) The commission shall not pledge the credit of any
  860  compacting state, except by and with the appropriate legal
  861  authority of that compacting state.
  862         (6) The commission shall keep complete and accurate
  863  accounts of all its internal receipts, including grants and
  864  donations, and disbursements of all funds under its control. The
  865  internal financial accounts of the commission shall be subject
  866  to the accounting procedures established under its bylaws. The
  867  financial accounts and reports including the system of internal
  868  controls and procedures of the commission shall be audited
  869  annually by an independent certified public accountant. Upon the
  870  determination of the commission, but no less frequently than
  871  every 3 years, the review of the independent auditor shall
  872  include a management and performance audit of the commission.
  873  The commission shall make an annual report to the Governor and
  874  the presiding officers of the Legislature of the compacting
  875  states, which shall include a report of the independent audit.
  876  The commission’s internal accounts shall not be confidential and
  877  such materials may be shared with the commissioner of any
  878  compacting state upon request; provided any work papers related
  879  to any internal or independent audit and any information
  880  regarding the privacy of individuals and insurers’ proprietary
  881  information, including trade secrets, shall remain confidential.
  882         (7) No compacting state shall have any claim to or
  883  ownership of any property held by or vested in the commission or
  884  to any commission funds held pursuant to the provisions of this
  885  compact.
  886  
  887                            Article XIII                           
  888  
  889         COMPACTING STATES, EFFECTIVE DATE, AMENDMENT.—
  890         (1) Any state is eligible to become a compacting state.
  891         (2) The compact shall become effective and binding upon
  892  legislative enactment of the compact into law by two compacting
  893  states; provided the commission shall become effective for
  894  purposes of adopting uniform standards for, reviewing, and
  895  giving approval or disapproval of, products filed with the
  896  commission that satisfy applicable uniform standards only after
  897  26 states are compacting states or, alternatively, by states
  898  representing greater than 40 percent of the premium volume for
  899  life insurance, annuity, disability income, and long-term care
  900  insurance products, based on records of the National Association
  901  of Insurance Commissioners for the prior year. Thereafter, the
  902  compact shall become effective and binding as to any other
  903  compacting state upon enactment of the compact into law by that
  904  state.
  905         (3) Amendments to the compact may be proposed by the
  906  commission for enactment by the compacting states. No amendment
  907  shall become effective and binding upon the commission and the
  908  compacting states unless and until all compacting states enact
  909  the amendment into law.
  910  
  911                             Article XIV                           
  912  
  913         WITHDRAWAL; DEFAULT; DISSOLUTION.—
  914         (1) Withdrawal.—
  915         (a) Once effective, the compact shall continue in force and
  916  remain binding upon each and every compacting state; provided a
  917  compacting state may withdraw from the compact by enacting a law
  918  specifically repealing the law which enacted the compact into
  919  law.
  920         (b) The effective date of withdrawal is the effective date
  921  of the repealing law. However, the withdrawal shall not apply to
  922  any product filings approved or self-certified, or any
  923  advertisement of such products, on the date the repealing law
  924  becomes effective, except by mutual agreement of the commission
  925  and the withdrawing state unless the approval is rescinded by
  926  the withdrawing state as provided in paragraph (e).
  927         (c) The commissioner of the withdrawing state shall
  928  immediately notify the management committee in writing upon the
  929  introduction of legislation repealing this compact in the
  930  withdrawing state.
  931         (d) The commission shall notify the other compacting states
  932  of the introduction of such legislation within 10 days after the
  933  commission’s receipt of notice of such legislation.
  934         (e) The withdrawing state is responsible for all
  935  obligations, duties, and liabilities incurred through the
  936  effective date of withdrawal, including any obligations, the
  937  performance of which extend beyond the effective date of
  938  withdrawal, except to the extent those obligations may have been
  939  released or relinquished by mutual agreement of the commission
  940  and the withdrawing state. The commission’s approval of products
  941  and advertisement prior to the effective date of withdrawal
  942  shall continue to be effective and be given full force and
  943  effect in the withdrawing state unless formally rescinded by the
  944  withdrawing state in the same manner as provided by the laws of
  945  the withdrawing state for the prospective disapproval of
  946  products or advertisement previously approved under state law.
  947         (f) Reinstatement following withdrawal of any compacting
  948  state shall occur upon the effective date of the withdrawing
  949  state reenacting the compact.
  950         (2) Default.—
  951         (a) If the commission determines that any compacting state
  952  has at any time defaulted in the performance of any of its
  953  obligations or responsibilities under this compact, the bylaws,
  954  or duly adopted rules or operating procedures, after notice and
  955  hearing as set forth in the bylaws, all rights, privileges, and
  956  benefits conferred by this compact on the defaulting state shall
  957  be suspended from the effective date of default as fixed by the
  958  commission. The grounds for default include, but are not limited
  959  to, failure of a compacting state to perform its obligations or
  960  responsibilities, and any other grounds designated in commission
  961  rules. The commission shall immediately notify the defaulting
  962  state in writing of the defaulting state’s suspension pending a
  963  cure of the default. The commission shall stipulate the
  964  conditions and the time period within which the defaulting state
  965  must cure its default. If the defaulting state fails to cure the
  966  default within the time period specified by the commission, the
  967  defaulting state shall be terminated from the compact and all
  968  rights, privileges, and benefits conferred by this compact shall
  969  be terminated from the effective date of termination.
  970         (b) Product approvals by the commission or product self
  971  certifications, or any advertisement in connection with such
  972  product that are in force on the effective date of termination
  973  shall remain in force in the defaulting state in the same manner
  974  as if the defaulting state had withdrawn voluntarily pursuant to
  975  subsection (1).
  976         (c) Reinstatement following termination of any compacting
  977  state requires a reenactment of the compact.
  978         (3) Dissolution of compact.—
  979         (a) The compact dissolves effective upon the date of the
  980  withdrawal or default of the compacting state which reduces
  981  membership in the compact to a single compacting state.
  982         (b) Upon the dissolution of this compact, the compact
  983  becomes null and void and shall be of no further force or effect
  984  and the business and affairs of the commission shall be
  985  concluded and any surplus funds shall be distributed in
  986  accordance with the bylaws.
  987  
  988                             Article XV                            
  989  
  990         SEVERABILITY; CONSTRUCTION.—
  991         (1) The provisions of this compact are severable and if any
  992  phrase, clause, sentence, or provision is deemed unenforceable,
  993  the remaining provisions of the compact shall be enforceable.
  994         (2) The provisions of this compact shall be liberally
  995  construed to effectuate its purposes.
  996  
  997                             Article XVI                           
  998  
  999         BINDING EFFECT OF COMPACT AND OTHER LAWS.—
 1000         (1) Binding effect of this compact.—
 1001         (a) All lawful actions of the commission, including all
 1002  rules and operating procedures adopted by the commission, are
 1003  binding upon the compacting states.
 1004         (b) All agreements between the commission and the
 1005  compacting states are binding in accordance with their terms.
 1006         (c) Upon the request of a party to a conflict over the
 1007  meaning or interpretation of commission actions, and upon a
 1008  majority vote of the compacting states, the commission may issue
 1009  advisory opinions regarding the meaning or interpretation in
 1010  dispute.
 1011         (d) If any provision of this compact exceeds the
 1012  constitutional limits imposed on the Legislature of any
 1013  compacting state, the obligations, duties, powers, or
 1014  jurisdiction sought to be conferred by that provision upon the
 1015  commission shall be ineffective as to that compacting state and
 1016  those obligations, duties, powers, or jurisdiction shall remain
 1017  in the compacting state and shall be exercised by the agency of
 1018  such state to which those obligations, duties, powers, or
 1019  jurisdiction are delegated by law in effect at the time this
 1020  compact becomes effective.
 1021         (2) Other laws.—
 1022         (a) Nothing in this compact prevents the enforcement of any
 1023  other law of a compacting state, except as provided in paragraph
 1024  (b).
 1025         (b) For any product approved or certified to the
 1026  commission, the rules, uniform standards, and any other
 1027  requirements of the commission shall constitute the exclusive
 1028  provisions applicable to the content, approval, and
 1029  certification of such products. For advertisement that is
 1030  subject to the commission’s authority, any rule, uniform
 1031  standard, or other requirement of the commission which governs
 1032  the content of the advertisement shall constitute the exclusive
 1033  provision that a commissioner may apply to the content of the
 1034  advertisement. Notwithstanding this paragraph, no action taken
 1035  by the commission shall abrogate or restrict:
 1036         1. The access of any person to state courts;
 1037         2. Remedies available under state law related to breach of
 1038  contract, tort, or other laws not specifically directed to the
 1039  content of the product;
 1040         3. State law relating to the construction of insurance
 1041  contracts; or
 1042         4. The authority of the attorney general of the state,
 1043  including, but not limited to, maintaining any actions or
 1044  proceedings, as authorized by law.
 1045         (c) All insurance products filed with individual states
 1046  shall be subject to the laws of those states.
 1047         Section 3. Election to opt out of all uniform standards
 1048  adopted by the commission involving long-term care insurance
 1049  products; adoption of existing uniform standards of the
 1050  commission; procedure for adoption of new or amended uniform
 1051  standards; notification of new or amended uniform standards:
 1052         (1) Pursuant to Article VII of the compact, authorized in
 1053  this act, the State of Florida prospectively opts out of all
 1054  uniform standards adopted by the commission involving long-term
 1055  care insurance products, and such opt out shall not be treated
 1056  as a material variance in the offer or acceptance of this state
 1057  to participate in the compact.
 1058         (2) Except as provided in subsection (1), all uniform
 1059  standards adopted by the commission as of March 1, 2013 are
 1060  adopted by this state.
 1061         (3) Notwithstanding subsections (3), (4), (5), and (6) of
 1062  Article VII, as a participant in this compact, it is the policy
 1063  of the State of Florida to opt out, and the office shall opt
 1064  out, of any new uniform standard adopted by the commission after
 1065  March 1, 2013 or amendments to existing uniform standards
 1066  adopted by the commission after March 1, 2013 where such
 1067  amendments substantially alter or add to existing uniform
 1068  standards adopted by this state in subsection (2) until such
 1069  time as this state enacts legislation to adopt or opt out of new
 1070  uniform standards or such amendments to uniform standards
 1071  adopted by the commission after March 1, 2013.
 1072         (4) The Financial Services Commission may adopt rules to
 1073  implement this act. It is the policy of the State of Florida
 1074  that this state’s participation in new uniform standards or
 1075  amendments to uniform standards adopted after March 1, 2013 as
 1076  set out in subsection (3) that have not been legislatively
 1077  approved by this state may not reasonably protect the citizens
 1078  of this state based on Article XVI(1)(d) of this act. The
 1079  Financial Services Commission shall use the rulemaking authority
 1080  granted in this subsection to opt out of any new uniform
 1081  standards or amendments to existing uniform standards where such
 1082  amendments substantially alter or add to existing uniform
 1083  standards adopted by the State of Florida in subsection (2)
 1084  until such uniform standards are legislatively approved by this
 1085  state.
 1086         (5) After enactment of this section, if the commission
 1087  adopts any new uniform standard or amendment to uniform
 1088  standards as set out in subsection (3), the office shall
 1089  immediately notify the legislature of such new uniform standard
 1090  or amendment to existing uniform standard. If the office or a
 1091  court of competent jurisdiction finds that the procedure set out
 1092  in subsection(3) has not been followed, notice shall be given to
 1093  the legislature, and reasonable and prompt measures shall be
 1094  taken to opt out of a uniform standard that has not been
 1095  legislatively approved by the State of Florida.
 1096         Section 4. Notwithstanding subsection (4) of Article XII,
 1097  the commission is subject to:
 1098         (1) State unemployment or reemployment taxes imposed
 1099  pursuant to chapter 443, Florida Statutes, in compliance with
 1100  the Federal Unemployment Tax Act, for any persons employed by
 1101  the commission who perform services for it within this state.
 1102         (2) Taxation for any commission business or activity
 1103  conducted or performed in the State of Florida.
 1104         Section 5. Notwithstanding subsections (1) and (2) of
 1105  Article VIII, subsection (2) of Article X, and subsection (6) of
 1106  Article XII of this act, a request by a resident of this state
 1107  for public inspection and copying of information, data, or
 1108  official records that includes:
 1109         (1) Insurer’s trade secrets shall be referred to the
 1110  commissioner who shall respond to the request, with the
 1111  cooperation and assistance of the commission, in accordance with
 1112  section 624.4213, Florida Statutes; or
 1113         (2) Matters of privacy of individuals shall be referred to
 1114  the commissioner who shall respond to the request, with the
 1115  cooperation and assistance of the commission, in accordance with
 1116  section 119.071, Florida Statutes.
 1117         (3) Nothing in this act abrogates a person’s right to
 1118  access information consistent with the Constitution and laws of
 1119  the State of Florida.
 1120         Section 6. The Financial Services Commission may adopt
 1121  rules to implement this act. The Financial Services Commission
 1122  may use the rulemaking authority granted in this section to opt
 1123  out of any new uniform standards adopted after October 1, 2013,
 1124  pursuant to Article VII, until such standards are approved by
 1125  the Legislature.
 1126         Section 7. This act shall take effect October 1, 2013.