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MI SB1070
Bill
AI Summary
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Vendors who are not licensed insurance producers must obtain a limited line portable electronics insurance producer license to sell or offer portable electronics insurance coverage to customers.
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A license authorizes the vendor's employees and authorized representatives to sell or offer portable electronics insurance coverage at any location where the vendor conducts portable electronics transactions.
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The supervising entity must maintain a registry of locations authorized to sell or solicit portable electronics insurance in Michigan, which must be open for inspection by the director upon 10 days' notice during regular business hours.
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Bill takes effect only if all nine related bills (SB 1069, 1071-1078) are enacted into law.
Legislative Description
Insurance: other; portable electronics insurance; provide for. Amends 1956 PA 218 (MCL 500.100 - 500.8302) by adding sec. 1293. TIE BAR WITH: SB 1069'24, SB 1071'24, SB 1072'24, SB 1073'24, SB 1074'24, SB 1075'24, SB 1076'24, SB 1077'24, SB 1078'24
Insurance: other
Last Action
Referred To Committee On Regulatory Affairs
11/7/2024