69O-154.116. Change of Status of Individual Issuer's Election to Become Risk-Assuming Carrier or Reinsuring Carrier

(1) Any individual issuer seeking to change the election made by the carrier under Section 627.6475(5)(a), F.S., to become either a risk-assuming carrier or a reinsuring carrier shall request a change of status on Form OIR-1304 (rev. 10/98), State of Florida/Individual Issuer’s Application to Modify Previous Election to Become a Risk Assuming or a Reinsuring Carrier which is hereby adopted and incorporated by reference and may be obtained from the Bureau of Life and Health Forms & Rates, 200 East Gaines Street, Tallahassee, Florida 32399-0328, as required by Section 627.6475(5), F.S.

(2)(a) Within 60 days from the date on which the form and its attached information is filed with the Office, the Office shall hold a hearing on the request.

(b) Within 30 days after the conclusion of the hearing and the submission of any post-hearing documentation or argument, the Department shall approve or disapprove the request, based on the criteria set forth in Section 627.6475(6)(b), F.S.

Rulemaking Authority 624.308, 627.6475(9) FS. Law Implemented 624.307(1), 627.6475 FS. History–New 9-19-00, Formerly 4-154.116.