Florida Senate - 2014                        COMMITTEE AMENDMENT
       Bill No. CS for SB 1260
       
       
       
       
       
       
                                Ì589854VÎ589854                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                   Comm: RS            .                                
                  04/09/2014           .                                
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       recommended the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Before line 195
    4  insert:
    5         Section 1. Paragraph (b) of subsection (1) of section
    6  624.4625, Florida Statutes, is amended to read:
    7         624.4625 Corporation not for profit self-insurance funds.—
    8         (1) Notwithstanding any other provision of law, any two or
    9  more corporations not for profit located in and organized under
   10  the laws of this state may form a self-insurance fund for the
   11  purpose of pooling and spreading liabilities of its group
   12  members in any one or combination of property or casualty risk,
   13  provided the corporation not for profit self-insurance fund that
   14  is created:
   15         (b) Requires for qualification that each participating
   16  member receive at least 75 percent of its revenues from local,
   17  state, or federal governmental sources or a combination of such
   18  sources, or qualify as a publicly supported organization as
   19  evidenced on the member’s most recently filed Internal Revenue
   20  Service Form 990.
   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         Delete line 2
   25  and insert:
   26         An act relating to insurance; amending s. 624.4625,
   27         F.S.; revising requirements for corporations not for
   28         profit to qualify to form a self-insurance fund;
   29         amending s. 624.501,