69O-154.116. Change of Status of Individual Issuer's Election to Become Risk-Assuming Carrier or Reinsuring Carrier

(1) Any individual issuer seeking to change the election made by the carrier under Section 627.6475(5)(a), F.S., to become either a risk-assuming carrier or a reinsuring carrier shall request a change of status on Form OIR-B2-1304, “Individual Carrier's Application To Modify Previous Election To Become A Risk Assuming Carrier Or A Reinsuring Carrier, As Required By Section 627.6475(5), Florida Statutes,” rev. 8/03, available at https://flrules.org/Gateway/reference.asp?No=Ref-19679 which is hereby adopted and incorporated by reference and may be obtained from floir.gov/iportal, as required by Section 627.6475(5), F.S. (2)(a) Within 60 days from the date on which the form and its attached information is filed with the Office, the Office shall hold a hearing on the request. (b) Within 30 days after the conclusion of the hearing and the submission of any post-hearing documentation or argument, the Office shall approve or disapprove the request, based on the criteria set forth in Section 627.6475(6)(b), F.S.