| 15 | 15 | | An act relating to risk retention groups; amending s. 2 |
|---|
| 16 | 16 | | 324.021, F.S.; providing that motor vehicle insurance 3 |
|---|
| 17 | 17 | | coverage issued by risk retention groups operating 4 |
|---|
| 18 | 18 | | under federal law satisfies financial responsibility 5 |
|---|
| 19 | 19 | | requirements under state motor vehicle law; providing 6 |
|---|
| 20 | 20 | | an effective date. 7 |
|---|
| 21 | 21 | | 8 |
|---|
| 22 | 22 | | Be It Enacted by the Legislature of the State of Florida: 9 |
|---|
| 23 | 23 | | 10 |
|---|
| 24 | 24 | | Section 1. Subsection (8) of section 324.021, Florida 11 |
|---|
| 25 | 25 | | Statutes, is amended to read: 12 |
|---|
| 26 | 26 | | 324.021 Definitions; minimum insurance required. —The 13 |
|---|
| 27 | 27 | | following words and phrases when used in this chapter shall, for 14 |
|---|
| 28 | 28 | | the purpose of this chapter, have the meanings respectively 15 |
|---|
| 29 | 29 | | ascribed to them in this section, except in those inst ances 16 |
|---|
| 30 | 30 | | where the context clearly indicates a different meaning: 17 |
|---|
| 31 | 31 | | (8) MOTOR VEHICLE LIABILITY POLICY. —Any owner's or 18 |
|---|
| 32 | 32 | | operator's policy of liability insurance furnished as proof of 19 |
|---|
| 33 | 33 | | financial responsibility pursuant to s. 324.031, insuring such 20 |
|---|
| 34 | 34 | | owner or operator against loss from liability for bodily injury, 21 |
|---|
| 35 | 35 | | death, and property damage arising out of the ownership, 22 |
|---|
| 36 | 36 | | maintenance, or use of a motor vehicle in not less than the 23 |
|---|
| 37 | 37 | | limits described in subsection (7) and conforming to the 24 |
|---|
| 38 | 38 | | requirements of s. 324.151, iss ued by any insurance company 25 |
|---|
| 46 | 46 | | Page 2 of 2 |
|---|
| 47 | 47 | | F L O R I D A H O U S E O F R E P R E S E N T A T I V E S |
|---|
| 48 | 48 | | |
|---|
| 49 | 49 | | |
|---|
| 50 | 50 | | |
|---|
| 51 | 51 | | authorized to do business in this state , including, but not 26 |
|---|
| 52 | 52 | | limited to, a risk retention group operating in accordance with 27 |
|---|
| 53 | 53 | | 15 U.S.C. ss. 3901 et seq., which conducts business in this 28 |
|---|
| 54 | 54 | | state pursuant to s. 627.944 . The owner, registrant, or operator 29 |
|---|
| 55 | 55 | | of a motor vehicle is exempt from providing such proof of 30 |
|---|
| 56 | 56 | | financial responsibility if he or she is a member of the United 31 |
|---|
| 57 | 57 | | States Armed Forces and is called to or on active duty outside 32 |
|---|
| 58 | 58 | | this state or the United States, or if the owner of the vehicle 33 |
|---|
| 59 | 59 | | is the dependent spouse of such active duty member and is also 34 |
|---|
| 60 | 60 | | residing with the active duty member at the place of posting of 35 |
|---|
| 61 | 61 | | such member, and the vehicle is primarily maintained at such 36 |
|---|
| 62 | 62 | | place of posting. The exemption provided by this subs ection 37 |
|---|
| 63 | 63 | | applies only as long as the member of the armed forces is on 38 |
|---|
| 64 | 64 | | such active duty outside this state or the United States and the 39 |
|---|
| 65 | 65 | | owner complies with the security requirements of the state of 40 |
|---|
| 66 | 66 | | posting or any possession or territory of the United States. 41 |
|---|
| 67 | 67 | | Section 2. This act shall take effect July 1, 2024. 42 |
|---|