Florida Senate - 2014 COMMITTEE AMENDMENT Bill No. CS for SB 870 Ì5410966Î541096 LEGISLATIVE ACTION Senate . House Comm: RCS . 04/21/2014 . . . . ————————————————————————————————————————————————————————————————— ————————————————————————————————————————————————————————————————— The Committee on Rules (Richter) recommended the following: 1 Senate Amendment 2 3 Delete lines 91 - 101 4 and insert: 5 629.271 Distribution of savings.— 6 (1) A reciprocal insurer may
from time to timereturn to 7 its subscribers any unused premiums, savings, or credits 8 accruing to their accounts. AnySuch distribution may shallnot 9 unfairly discriminate between classes of risks, or policies, or 10 between subscribers, but such distributionmay vary as to 11 classes of subscribers based on uponthe experience of such 12 classes. 13 (2) In addition to the option provided in subsection (1), a 14 domestic reciprocal insurer may, upon the prior written approval 15 of the office, pay to its subscribers a portion of unassigned 16 funds of up to 10 percent of surplus with distribution limited 17 to 50 percent of net income from the previous calendar year. 18 Such distribution may not unfairly discriminate between classes 19 of risks, or policies, or between subscribers, but may vary as 20 to classes of subscribers based on the experience of such 21 classes.