|
|||
| 1 | A bill to be entitled | ||
| 2 | An act relating to warranty association regulation; | ||
| 3 | amending ss. 634.031, 634.303, and 634.403, F.S.; | ||
| 4 | exempting affiliates of insurers from provisions | ||
| 5 | regulating certain warranty associations, under certain | ||
| 6 | circumstances; providing for nonapplication of the | ||
| 7 | exemptions under certain circumstances; providing an | ||
| 8 | effective date. | ||
| 9 | |||
| 10 | Be It Enacted by the Legislature of the State of Florida: | ||
| 11 | |||
| 12 | Section 1. Subsection (5) is added to section 634.031, | ||
| 13 | Florida Statutes, to read: | ||
| 14 | 634.031 License required.-- | ||
| 15 | (5) Any person that is an affiliate of a domestic insurer | ||
| 16 | as defined in chapter 624 is exempt from application of this | ||
| 17 | part if the person does not issue, or market or cause to be | ||
| 18 | marketed, motor vehicle service agreements to residents of this | ||
| 19 | state and does not administer motor vehicle service agreements | ||
| 20 | that were originally issued to residents of this state. If the | ||
| 21 | department determines, after notice and opportunity for a | ||
| 22 | hearing, that a person’s intentional business practices do not | ||
| 23 | comply with any of the exemption requirements of this | ||
| 24 | subsection, the person shall be subject to this part. | ||
| 25 | Section 2. Subsection (3) is added to section 634.303, | ||
| 26 | Florida Statutes, to read: | ||
| 27 | 634.303 License required.-- | ||
| 28 | (3) Any person that is an affiliate of a domestic insurer | ||
| 29 | as defined in chapter 624 is exempt from application of this | ||
| 30 | part if the person does not issue, or market or cause to be | ||
| 31 | marketed, home warranties to residents of this state and does | ||
| 32 | not administer home warranties that were originally issued to | ||
| 33 | residents of this state. If the department determines, after | ||
| 34 | notice and opportunity for a hearing, that a person’s | ||
| 35 | intentional business practices do not comply with any of the | ||
| 36 | exemption requirements of this subsection, the person shall be | ||
| 37 | subject to this part. | ||
| 38 | Section 3. Subsection (4) is added to section 634.403, | ||
| 39 | Florida Statutes, to read: | ||
| 40 | 634.403 License required.-- | ||
| 41 | (4) Any person that is an affiliate of a domestic insurer | ||
| 42 | as defined in chapter 624 is exempt from application of this | ||
| 43 | part if the person does not issue, or market or cause to be | ||
| 44 | marketed, service warranties to residents of this state and does | ||
| 45 | not administer service warranties that were originally issued to | ||
| 46 | residents of this state. If the department determines, after | ||
| 47 | notice and opportunity for a hearing, that a person’s | ||
| 48 | intentional business practices do not comply with any of the | ||
| 49 | exemption requirements of this subsection, the person shall be | ||
| 50 | subject to this part. | ||
| 51 | Section 4. This act shall take effect upon becoming a law. | ||