Bill Text: MI SB1070 | 2023-2024 | 102nd Legislature | Introduced

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Bill Title: 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

Spectrum: Bipartisan Bill

Status: (Introduced) 2024-11-07 - Referred To Committee On Regulatory Affairs [SB1070 Detail]

Download: Michigan-2023-SB1070-Introduced.html

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SENATE BILL NO. 1070

A bill to amend 1956 PA 218, entitled

"The insurance code of 1956,"

(MCL 500.100 to 500.8302) by adding section 1293.

the people of the state of michigan enact:

Sec. 1293. (1) A vendor who is not an insurance producer shall not sell or offer coverage under a portable electronics insurance policy to a customer unless the vendor is a limited line portable electronics insurance producer. A license issued to a vendor under this chapter authorizes any employee or authorized representative of the vendor to sell or offer coverage under a policy of portable electronics insurance to a customer at any location at which the vendor engages in portable electronics transactions.

(2) The supervising entity shall maintain a registry of locations that are authorized to sell or solicit portable electronics insurance in this state. On the director's request and within 10 days' notice to the supervising entity, the registry must be open to inspection and examination by the director during the vendor's regular business hours.

Enacting section 1. This amendatory act does not take effect unless all of the following bills of the 102nd Legislature are enacted into law:

(a) Senate Bill No. 1069.

 

(b) Senate Bill No. 1071.

 

(c) Senate Bill No. 1072.

 

(d) Senate Bill No. 1073.

 

(e) Senate Bill No. 1074.

 

(f) Senate Bill No. 1075.

 

(g) Senate Bill No. 1076.

 

(h) Senate Bill No. 1077.

 

(i) Senate Bill No. 1078.