FL H0291

Authorizes electronic transmission of service agreements, home warranties, and service warranty contracts to agreement/warranty holders as an alternative to mailing or physical delivery, with delivery occurring upon electronic transmission.

Requires electronic transmission to notify recipients of their right to receive documents via United States mail instead, and mandates paper copies be provided if recipients communicate their preference in writing or electronically.

Permits service warranty associations holding only a license under this part to exceed premium-to-net-assets limitations if they maintain at least $750,000 in net assets and obtain approved contractual liability insurance policies.

Revises contractual liability insurance requirements for warranty associations, including specifications for insurer ratings (A.M. Best "A" or higher), policyholder surplus minimums ($100-200 million), and requirements for publicly-traded or established associations.

Effective date: July 1, 2014.