The purpose and effect of this rulemaking is the repeal of rule 69B-148.001 in Rule Chapter 69B-148, F.A.C., because the rule is duplicative or unnecessary.

 

DEPARTMENT OF FINANCIAL SERVICES

Division of Insurance Agents and Agency Services

RULE NO.:RULE TITLE:

69B-148.001Funding of Preneed Contracts With Life Insurance or Annuities

PURPOSE AND EFFECT: The purpose and effect of this rulemaking is the repeal of Rule 69B-148.001, F.A.C., in Rule Chapter 69B-148, F.A.C., because the rule is duplicative or unnecessary.

SUMMARY: This rule repeal is part of the agency’s comprehensive review of existing rules that focused on eliminating those that were determined to be unnecessary or duplicative. The rule contained in Rule Chapter 69B-148, F.A.C., “Funding of Preneed Contracts with Life Insurance or Annuities”, is being repealed because it is not necessary to implement the correlating statute or is redundant.

SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS AND LEGISLATIVE RATIFICATION: The Agency has determined that this will not have an adverse impact on small business or likely increase directly or indirectly regulatory costs in excess of $200,000 in the aggregate within one year after the implementation of the rule. A SERC has not been prepared by the Agency.

The Agency has determined that the proposed rule is not expected to require legislative ratification based on the statement of estimated regulatory costs or if no SERC is required, the information expressly relied upon and described herein: The rule repeal does not impose any costs.

Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.

RULEMAKING AUTHORITY: 624.308 FS.

LAW IMPLEMENTED: 624.307(1), 626.342, 626.752, 626.797, 626.9541(1)(a), (b), (h), (l), 627.4085 FS.

IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW (IF NOT REQUESTED, THIS HEARING WILL NOT BE HELD):

DATE AND TIME: Thursday, November 13, 2014, 9:00 a.m.

PLACE: 142 Larson Building, 200 East Gaines Street, Tallahassee, Florida

Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this workshop/meeting is asked to advise the agency at least 5 days before the workshop/meeting by contacting: Cindy Benefield, [phone] or [e-mail]. If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice).

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Cindy Benefield, Senior Management Analyst II, Division of Agent & Agency Services, Florida Department of Financial Services, 200 E. Gaines Street, Tallahassee, Florida 32399-0320, [phone] or [e-mail]

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

69B-148.001 Funding of Preneed Contracts With Life Insurance or Annuities.

Rulemaking Specific Authority 624.308(1) FS. Law Implemented 624.307(1), 626.785, 626.9541(1)(a), (t), 627.410 FS. History–New 4-8-97, Formerly 4-148.001, Repealed__________.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Cindy Benefield, Senior Management Analyst II, Division of Agent & Agency Services, Florida Department of Financial Services

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Jeff Atwater, Chief Financial Officer, Department of Financial Services

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: October 16, 2014