Amendment SA1-SB516

LRBa1846/1

TJD&PJK:jld:md

2009 - 2010 LEGISLATURE

SENATE AMENDMENT 1, TO 2009 SENATE BILL 516

March 19, 2010 - Offered by Committee on Judiciary, Corrections, Insurance, Campaign Finance Reform, and Housing.

SB516-SA1,1,1 At the locations indicated, amend the bill as follows:

SB516-SA1,1,3 1. Page 1, line 13: delete the material beginning with "investment" and ending with "participation" on line 14 and substitute "segregated accounts".

SB516-SA1,1,5 2. Page 5, line 13: delete the material beginning with that line and ending with page 6, line 2.

SB516-SA1,1,6 3. Page 8, line 7: after that line insert:

SB516-SA1,1,7 " Section 9t. 611.24 (3) (i) of the statutes is amended to read:

SB516-SA1,2,2 611.24 (3) (i) Expenses, loans, and services. The general account of the corporation, or any segregated account, may for a fair consideration provide loans or guarantees in connection with, perform services for, or reinsure other accounts, subject to rules promulgated by the commissioner. Generally accepted accounting principles and realistic actuarial tables may be considered to ascertain what is a fair consideration. Notwithstanding s. 645.68, the commissioner may assign a general or segregated account obligation to a segregated account an order of distribution higher in priority than provided for under s. 645.68 (5).".

SB516-SA1,2,4 4. Page 10, line 3: delete the material beginning with that line and ending with page 11, line 2.

SB516-SA1,2,5 5. Page 12, line 6: delete lines 6 to 10.

SB516-SA1,2,7 6. Page 13, line 1: delete the material beginning with ", other" and ending with "unit," on line 2.

SB516-SA1,2,9 7. Page 13, line 8: delete " , other than a motor vehicle owned by governmental unit,".

SB516-SA1,2,10 8. Page 19, line 24: delete "(intro.), 2., or" and substitute "2. or".

SB516-SA1,2,11 9. Page 20, line 1: delete "(intro.), 2., or" and substitute "2. or".

SB516-SA1,2,12 (End)