and when any these kinds of payment has long been credited to an appropriation, such appropriation shall at the time of making any this sort of refund, be billed therewith. You will find appropriated from the right respective cash from time to time such sums as may be essential for such refunds.
2. Funds owed into a financial institution or other money establishment to cover obligations with the insolvent insurer beneath a credit agreement that helps the insolvent insurance provider in paying statements attributable to covered events.
(two) An index of investments within the state determined with the board as technological know-how and advancement investments in just each asset course.
b. The purpose of these kinds of bonds is to fund reimbursements with the Florida Hurricane Disaster Fund to pay for The prices of development, reconstruction, repair service, restoration, as well as other expenses associated with damage to Attributes of policyholders of covered policies mainly because of the event of a hurricane.
3. The contract shall provide that reimbursement amounts shall not be diminished by reinsurance compensated or payable on the insurer from other sources.
(five) Any arrangement or deal, executed on or immediately after July one, 2011, which includes added payment among a unit of government and an officer, agent, personnel, or contractor may well not involve provisions that Restrict the power of any occasion to the arrangement or contract to debate the settlement or contract.
2. Officers and personnel chorus from enterprise individual financial commitment transactions With all the exact same person staff at a broker-seller organization with whom enterprise is conducted on behalf of your board.
3. Contacting other institutional traders that prohibit these kinds of investments or that have engaged with corporations that boycott Israel.
b. The condition hereby covenants with holders of bonds in the corporation that the point out will not repeal or abrogate the power of the board to immediate the Business office of Insurance policies Regulation to levy the assessments and to collect the proceeds from the revenues pledged on the payment of these types of bonds so long as any these kinds of bonds keep on being exceptional Except if sufficient provision has become created for the payment of this sort of bonds pursuant on the files authorizing the issuance of this kind of follow us bonds.
(d) The insolvencies and economic impairments ensuing from Hurricane Andrew display a large number of home insurers are not able or unwilling to maintain reserves, surplus, and reinsurance adequate to empower the insurers to pay for all promises in whole within the party of the disaster.
(one) In order to put into action s. 19(file), Artwork. III in the State Structure, for the objective of examining rely on money previous to their computerized termination pursuant towards the provisions of s. 19(f)(2), Art. III with the Condition Constitution, the Legislature shall review all state have confidence in cash a minimum of the moment just about every 4 yrs. The agenda for these review could possibly be included in the legislative spending plan instructions designed pursuant to the requirements of s. 216.023. The Legislature shall evaluate trust money as They are really recognized by a classification scheme established out from the legislative budget request Guidance pursuant to s.
(eleven) Vacation and various reimbursements to point out officers and staff have to be the same as payments to distributors under this segment, apart from payment of Course C travel subsistence.
(b) To qualify for selection because of the department being a wind certification entity to offer hurricane mitigation inspections, the entity shall, in a least, meet the next needs:
(three) When a county or municipal official or company is acting for the condition official or agency or maybe the judicial department in the gathering of service fees or other costs, the company rate gathered below this portion shall be retained because of the collector on the charge.
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