Florida Senate - 2022 COMMITTEE AMENDMENT Bill No. SB 1430 Ì179644CÎ179644 LEGISLATIVE ACTION Senate . House . . . . . ————————————————————————————————————————————————————————————————— ————————————————————————————————————————————————————————————————— The Committee on Banking and Insurance (Brandes) recommended the following: 1 Senate Amendment (with title amendment) 2 3 Before line 33 4 insert: 5 Section 1. Section 624.4073, Florida Statutes, is amended 6 to read: 7 624.4073 Officers and directors of insolvent insurers.—Any 8 person who was an officer or director of an insurer doing 9 business in this state and who served in that capacity within 10 the 2-year period before the date the insurer became insolvent, 11 for any insolvency that occurs on or after July 1, 2002, may
not12 thereafter serve as an officer or director of an insurer 13 authorized in this state or have direct or indirect control over 14 the selection or appointment of an officer or director through 15 contract, trust, or by operation of law, unless the office 16 enters an order pursuant to s. 624.310 demonstrating that the 17 officer or director demonstrates that his or herpersonal 18 actions or omissions of the officer or director were nota 19 significant contributing cause to the insolvency. 20 21 ================= T I T L E A M E N D M E N T ================ 22 And the title is amended as follows: 23 Between lines 2 and 3 24 insert: 25 624.4073, F.S.; revising a prohibition against certain 26 insolvent insurers’ former officers or directors 27 serving as officers or directors of an insurer or 28 having direct or indirect control over certain 29 selection or appointment of officers or directors, to 30 allow such activities unless the Office of Insurance 31 Regulation enters a specified order; amending s.