Amendment AA1-AB433

LRBa0867/1

TNF:mfd:jf

1997 - 1998 LEGISLATURE

ASSEMBLY AMENDMENT 1, TO 1997 ASSEMBLY BILL 433

October 8, 1997 - Offered by Committee on Financial Institutions.

AB433-AA1,1,1 At the locations indicated, amend the bill as follows:

AB433-AA1,1,3 1. Page 1, line 8: after "leases" insert ", financial responsibility for domestic rented or leased vehicles and the definition of motor vehicle dealer".

AB433-AA1,1,4 2. Page 2, line 4: after that line insert:

AB433-AA1,1,5 " Section 1m. 218.01 (1) (o) 5. of the statutes is amended to read:

AB433-AA1,1,8 218.01 (1) (o) 5. Sales finance companies when engaged in purchasing or otherwise acquiring consumer leases from a motor vehicle dealer, or in renegotiating consumer leases previously purchased or otherwise acquired by them.

AB433-AA1, s. 1r Section 1r. 218.01 (2) (dr) of the statutes is amended to read:

AB433-AA1,2,5 218.01 (2) (dr) The fee for licenses for sales finance companies for each calendar year, or part of a calendar year, is based on the gross volume of purchases of retail instalment contracts and consumer leases of motor vehicles sold or leased in this state for the 12 months immediately preceding October 31 of the year in which the application for license is made, as follows: On a gross volume of $100,000 or less, $50; and on each $100,000 or part thereof over $100,000, an additional $15. No extra charge shall be made for branch licenses for sales finance companies. Gross volume shall be based on the unpaid balance of the retail instalment contracts and the base lease periodic payments, as defined in s. 429.104 (4), of the consumer leases.".

AB433-AA1,2,6 3. Page 3, line 10: after that line insert:

AB433-AA1,2,8 " Section 3j. 344.51 (1) of the statutes is renumbered 344.51 (1m) and amended to read:

AB433-AA1,2,21 344.51 (1m) No person lessor or rental company may for compensation rent or lease any motor vehicle to be operated by or with the consent of the person renting or leasing the vehicle unless there is filed with the department on a form prescribed by the department a certificate for a good and sufficient bond or policy of insurance issued by an insurer authorized to do an automobile liability insurance or surety business in this state. The bond, policy or certificate shall provide that the insurer which issued it will be liable for damages caused by the negligent operation of the motor vehicle in the amounts set forth in s. 344.01 (2) (d). No person lessor or rental company complying with this subsection, and no person lessor or rental company entering into or acquiring an interest in any contract for the rental or leasing of a motor vehicle for which any other person lessor or rental company has complied with this subsection, is liable for damages caused by the negligent operation of the motor vehicle by another person.

AB433-AA1, s. 3k Section 3k. 344.51 (1g) (a) and (c) of the statutes are created to read:

AB433-AA1,3,3 344.51 (1g) (a) "Lessor" means a person who, for compensation, leases a motor vehicle to a lessee to be operated by or with the consent of the lessee or who acquires a contract for the leasing of a motor vehicle from another person.

AB433-AA1,3,6 (c) "Rental company" means a person who, for compensation, rents a motor vehicle to a renter to be operated by or with the consent of the renter or who acquires a contract for the renting of a motor vehicle from another person.

AB433-AA1, s. 3m Section 3m. 344.51 (2) of the statutes is amended to read:

AB433-AA1,3,12 344.51 (2) Any person lessor or rental company failing to comply with this section is directly liable for damages caused by the negligence of the person operating such rented or leased vehicle, but such liability may not exceed the limits set forth in s. 344.01 (2) (d) with respect to the acceptable limits of liability when furnishing proof of financial responsibility.

AB433-AA1, s. 3n Section 3n. 344.51 (4) of the statutes is renumbered 344.51 (1g) (intro.) and amended to read:

AB433-AA1,3,15 344.51 (1g) (intro.) In this section, "motor:

AB433-AA1,3,16 (b) "Motor vehicle" means a self-propelled vehicle.".

AB433-AA1,3,17 4. Page 8, line 9: delete lines 9 to 15 and substitute:

AB433-AA1,3,19 " Section 28g. 632.32 (2) (b) of the statutes is renumbered 632.32 (2) (b) (intro.) and amended to read:

AB433-AA1,3,20 632.32 (2) (b) (intro.) "Motor vehicle handler" means a any of the following:

AB433-AA1,3,21 1. A motor vehicle sales agency, dealer, as defined in s. 218.01 (1) (n).

AB433-AA1,3,22 3. A repair shop, service station, storage garage or public parking place.

AB433-AA1, s. 28j Section 28j. 632.32 (2) (b) 2. of the statutes is created to read:

AB433-AA1,4,2 632.32 (2) (b) 2. A lessor, as defined in s. 344.51 (1g) (a), or a rental company, as defined in s. 344.51 (1g) (c).".

AB433-AA1,4,3 5. Page 8, line 17: delete lines 17 and 18 and substitute:

AB433-AA1,4,8 "(1) (a) The treatment of sections 218.01 (1) (ar), (2) (dr), (3) (a) 18. and (6x) (e), 429.104 (1), (3), (3m) (intro.), (a) and (b), (4) (intro.), (a) and (b), (5), (6), (16) and (24), 429.203 (2m) (form) (d) and (e), (3) (a), (b), (c), (d), (e) 1. and 2. and (f) and (6) (c) and 429.207 (2) (f) 1. and 2. of the statutes first applies to leases entered into on the effective date of this paragraph.

AB433-AA1,4,10 (b) The treatment of section 344.51 (1), (1g) (a) and (c), (2) and (4) of the statutes first applies to rentals and leases entered into on the effective date of this paragraph.

AB433-AA1,4,13 (2) The renumbering and amendment of section 632.32 (2) (b) of the statutes and the creation of section 632.32 (2) (b) 2. of the statutes first apply to policies issued or renewed on the effective date of this subsection.".

AB433-AA1,4,14 (End)