12275755, 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: 12275755

Notice of Development of Rulemaking

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.

SUBJECT:

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:

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

PRINT PUBLISH DATE:

11/14/2012 Vol. 38/71

RELATED STATUTES
AND LAWS:

624.308(1), FS., 624.307(1), 626.785, 626.9541(1)(a),(t), 627.410, 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://www.flrules.org/gateway/ruleno.asp?id=69O-148.001&PDate=11/14/2012&Section=1

REFERENCE MATERIALS:

No reference(s).

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