MI HB6161

Adds a new licensing requirement for vendors seeking a limited line portable electronics insurance producer license under Michigan's insurance code.

Requires applicants to file a sworn application with the department and designate a compliance officer; vendors deriving over 50% revenue from portable electronics insurance must provide information for all officers, directors, and 10%+ shareholders.

Initial limited line portable electronics insurance producer licenses expire 24 months after issuance.

Establishes licensing fees not to exceed $1,000 for initial licenses or $500 for renewals; vendors operating at 10 or fewer locations pay maximum $100 for initial or renewal licenses.

Takes effect only if all of the following bills are enacted: HB 6155, 6156, 6157, 6158, 6159, 6160, 6162, 6163, and one additional bill (request no. 05090'21).