MI SB1075

Establishes a limited line portable electronics insurance producer license under Michigan's Insurance Code, requiring vendors to file a sworn application with the department on forms prescribed by the department.

Mandates applicants designate a compliance officer and provide name, residence address, and required information; vendors deriving more than 50% revenue from portable electronics insurance must also disclose all officers, directors, and shareholders with 10% or more beneficial ownership.

Sets initial licenses to expire 24 months after issuance, with license fees not exceeding $1,000 for new licenses or $500 for renewals; vendors with 10 or fewer locations in Michigan pay reduced fees of $100 maximum.

Takes effect only upon enactment of Senate Bills 1069, 1070, 1071, 1072, 1073, 1074, 1076, 1077, and 1078 of the 102nd Legislature.