Florida Senate - 2015                                    SB 1064
       
       
        
       By Senator Hukill
       
       
       
       
       
       8-00788-15                                            20151064__
    1                        A bill to be entitled                      
    2         An act relating to the assignment of post-loss
    3         insurance policy benefits; amending s. 627.422, F.S.;
    4         providing that the post-loss benefits under a policy
    5         may be assignable or not assignable as provided by the
    6         terms of the policy; providing an effective date.
    7          
    8  Be It Enacted by the Legislature of the State of Florida:
    9  
   10         Section 1. Section 627.422, Florida Statutes, is amended to
   11  read:
   12         627.422 Assignment of policies.—A policy or the post-loss
   13  benefits provided under the policy may be assignable, or not
   14  assignable, as provided by the its terms of the policy. Subject
   15  to the policy’s its terms relating to assignability, any life or
   16  health insurance policy under the terms of which the beneficiary
   17  may be changed upon the sole request of the policyowner may be
   18  assigned either by pledge or transfer of title, by an assignment
   19  executed by the policyowner alone and delivered to the insurer,
   20  whether or not the pledgee or assignee is the insurer. Any such
   21  assignment entitles shall entitle the insurer to deal with the
   22  assignee as the owner or pledgee of the policy in accordance
   23  with the terms of the assignment, until the insurer has received
   24  at its home office written notice of termination of the
   25  assignment or pledge or written notice by or on behalf of some
   26  other person claiming some interest in the policy in conflict
   27  with the assignment.
   28         Section 2. This act shall take effect July 1, 2015.