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.

Notice of Development of Rulemaking

 

DEPARTMENT OF FINANCIAL SERVICES
OIR – Insurance Regulation

RULE NO.: RULE TITLE:
69O-148.001: Funding of Preneed Contracts With Life Insurance or Annuities
PURPOSE AND EFFECT: 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.
SUBJECT AREA TO BE ADDRESSED: The rule addresses requirements for insurance policies which fund preneed funeral 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 IMPLEMENTED: 624.307(1), 626.785, 626.9541(1)(a),(t), 627.410 FS.
IF REQUESTED IN WRITING AND NOT DEEMED UNNECESSARY BY THE AGENCY HEAD, A RULE DEVELOPMENT WORKSHOP WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW:
DATE AND TIME: Monday, December 3, 2012 at 9:30 a.m.
PLACE: 116 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: Tom Zutell, Office of Insurance Regulation, E-mail [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 DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT, IF AVAILABLE, IS: Tom Zutell, Office of Insurance Regulation, E-mail [e-mail]
THE PRELIMINARY TEXT OF THE PROPOSED RULE DEVELOPMENT IS AVAILABLE AT NO CHARGE FROM THE CONTACT PERSON LISTED ABOVE.