Bill Amendment: FL S0542 | 2014 | Regular Session

NOTE: For additional amemendments please see the Bill Drafting List

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Bill Title: Flood Insurance

Status: 2014-06-13 - Chapter No. 2014-80, companion bill(s) passed, see SB 1262 (Ch. 2014-98) [S0542 Detail]

Download: Florida-2014-S0542-Senate_Committee_Amendment_203908_to_Amendment_906790_.html

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       Florida Senate - 2014                        COMMITTEE AMENDMENT
       Bill No. SB 542
       
       
       
       
       
       
                                Ì2039084Î203908                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  01/08/2014           .                                
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       following:
       
    1         Senate Amendment to Amendment (906790) 
    2  
    3         Delete lines 293 - 300
    4  and insert:
    5         (a) A policy that limits flood coverage to an amount less
    6  than the full replacement cost of the property must include the
    7  statement: “THIS POLICY LIMITS FLOOD COVERAGE TO LESS THAN THE
    8  FULL COST OF REPLACEMENT FOR THE PROPERTY, WHICH MAY RESULT IN
    9  HIGH OUT-OF-POCKET EXPENSES TO YOU AND MAY PUT YOUR EQUITY IN
   10  THIS PROPERTY AT RISK.”
   11         (b) A policy that insures a dwelling on the basis of actual
   12  cash value must include the statement: “THIS POLICY PAYS YOU