3989821, 19-8.010 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 3989821

Notice of Development of Rulemaking

Department:

STATE BOARD OF ADMINISTRATION

Chapter:

ADMINISTRATION OF THE FLORIDA HURRICANE CATASTROPHE FUND

Overview

RULE:

19-8.010

Reimbursement Contract

PURPOSE:

To address proposed amendments to Rule 19-8.010, F.A.C., the annual Reimbursement Contract.

SUBJECT:

The proposed amendment to this rule prohibits a participant in the Florida Hurricane Catastrophe Fund from selling, assigning, or transferring to a third party any right to receive sums from the Florida Hurricane Catastrophe Fund. To accomplish this, the Reimbursement Contract, Article II, would be amended to add the following language: The Company shall not, without the prior approval of the Office of Insurance Regulation, sell, assign, or transfer to any third party, in return for a fee or other consideration, any sums the Florida Hurricane Catastrophe Fund pays under this Contract or the right to receive such sums.

RULEMAKING AUTHORITY:

215.555(3) FS.

LAW:

215.555 FS.

PRINT PUBLISH DATE:

4/13/2007 Vol. 33/15

RELATED STATUTES
AND LAWS:

215.555(3) FS., 215.555 FS.

OVERSIGHT COMMITTEE:

Joint Administrative Procedures Committee
Florida Administrative Law Central Online Network (F.A.L.C.O.N.)

RELATED COURT CASES:

Division of Administrative Hearings

FEDERAL eRULEMAKING
WEB PORTAL:

Regulations.gov

HOW TO LINK TO
THIS NOTICE:

http://flrules.org/gateway/ruleno.asp?id=19-8.010&PDate=4/13/2007&Section=1

REFERENCE MATERIALS:

No reference(s).

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