The Florida Senate

634.3076  Prohibited investments and loans.--A home warranty association shall not directly or indirectly invest in or lend its funds upon the security of any note or other evidence of indebtedness of any director, officer, or controlling stockholder of the home warranty association. This prohibition applies only to investments and loans initially reported on a home warranty association's financial statements after the third quarterly statement for 2006.

History.--s. 4, ch. 2006-272.