Florida Senate - 2014                        COMMITTEE AMENDMENT
       Bill No. CS for SB 870
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  04/21/2014           .                                

       The Committee on Rules (Richter) recommended the following:
    1         Senate Amendment 
    3         Delete lines 91 - 101
    4  and insert:
    5         629.271 Distribution of savings.—
    6         (1) A reciprocal insurer may from time to time return to
    7  its subscribers any unused premiums, savings, or credits
    8  accruing to their accounts. Any Such distribution may shall not
    9  unfairly discriminate between classes of risks, or policies, or
   10  between subscribers, but such distribution may vary as to
   11  classes of subscribers based on upon the 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.