Florida Senate - 2014                        COMMITTEE AMENDMENT
       Bill No. CS for SB 416
       
       
       
       
       
       
                                Ì120980&Î120980                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  03/13/2014           .                                
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       recommended the following:
       
    1         Senate Amendment 
    2  
    3         Delete lines 140 - 148
    4  and insert:
    5         (III) The stabilization repair contractor to provide a
    6  warranty to the policyholder, secured by an authorized insurer
    7  or registered risk retention group, which covers all repairs
    8  provided by the stabilization repair contractor for at least 5
    9  years after completion of the stabilization repairs. If, for any
   10  contract, the stabilization repair contractor demonstrates that
   11  a warranty that is secured by an authorized insurer or
   12  registered risk retention group cannot be procured, or that such
   13  warranty cannot be procured for a cost equal to or less than 3
   14  percent of the stabilization repair contract amount, the
   15  corporation shall serve as the guarantor of the work performed
   16  by the contractor. The corporation shall also provide a warranty
   17  to the policyholder which covers all repairs provided by the
   18  stabilization repair contractor for at least 5 years if the
   19  stabilization repair contractor is unable to provide a remedy
   20  required under the warranty it provided to the policyholder.