Florida Senate - 2014                        COMMITTEE AMENDMENT
       Bill No. CS for SB 1260
       
       
       
       
       
       
                                Ì670382)Î670382                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  04/09/2014           .                                
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       recommended the following:
       
    1         Senate Substitute for Amendment (589854) (with title
    2  amendment)
    3  
    4         Before line 195
    5  insert:
    6         Section 1. Paragraph (b) of subsection (1) of section
    7  624.4625, Florida Statutes, is amended to read:
    8         624.4625 Corporation not for profit self-insurance funds.—
    9         (1) Notwithstanding any other provision of law, any two or
   10  more corporations not for profit located in and organized under
   11  the laws of this state may form a self-insurance fund for the
   12  purpose of pooling and spreading liabilities of its group
   13  members in any one or combination of property or casualty risk,
   14  provided the corporation not for profit self-insurance fund that
   15  is created:
   16         (b) Requires for qualification that each participating
   17  member receive at least 75 percent of its revenues from local,
   18  state, or federal governmental sources or a combination of such
   19  sources, or qualify as a publicly supported organization that
   20  normally receives a substantial part of its support from a
   21  governmental unit or from the general public as evidenced on the
   22  organization’s most recently filed Internal Revenue Service Form
   23  990 or 990-EZ, Schedule A.
   24  
   25  ================= T I T L E  A M E N D M E N T ================
   26  And the title is amended as follows:
   27         Delete line 2
   28  and insert:
   29         An act relating to insurance; amending s. 624.4625,
   30         F.S.; revising requirements for corporations not for
   31         profit to qualify to form a self-insurance fund;
   32         amending s. 624.501,