14609381, 69O-148.001 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 14609381

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

OIR – Insurance Regulation

Chapter:

FUNDING OF PRENEED CONTRACTS WITH LIFE INSURANCE OR ANNUITIES

Overview

RULE:

69O-148.001

Funding of Preneed Contracts With Life Insurance or Annuities

PURPOSE:

Removes the dollar amount cap and refers instead to the statute which contains the dollar amount and brings the rule in compliance with current law.

SUMMARY:

The Rule addresses requirements for insurance policies which fund preneed contracts. Currently, the rule caps the maximum face amount at $7,500 and the statute caps the maximum face amount at $12,500.

RULEMAKING AUTHORITY:

624.308(1), FS.

LAW:

624.307(1), 626.785, 626.9541(1)(a),(t), 627.410, FS.

PRINT PUBLISH DATE:

5/23/2014 Vol. 40/101

COMMENTS:

From 5/23/2014 To 6/13/2014 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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