Bill Text: MI SB1074 | 2023-2024 | 102nd Legislature | Introduced

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Bill Title: Insurance: other; portable electronics insurance; allow. Amends 1956 PA 218 (MCL 500.100 - 500.8302) by adding sec. 1296. TIE BAR WITH: SB 1069'24, SB 1070'24, SB 1071'24, SB 1072'24, SB 1073'24, SB 1075'24, SB 1076'24, SB 1077'24, SB 1078'24

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2024-11-07 - Referred To Committee On Regulatory Affairs [SB1074 Detail]

Download: Michigan-2023-SB1074-Introduced.html

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SENATE BILL NO. 1074

A bill to amend 1956 PA 218, entitled

"The insurance code of 1956,"

(MCL 500.100 to 500.8302) by adding section 1296.

the people of the state of michigan enact:

Sec. 1296. If a vendor or an employee or authorized representative of a vendor violates this chapter, the director may do any of the following:

(a) After notice and hearing, impose an administrative fine of not more than $500.00 for each violation. However, the director may not assess administrative fines under this chapter against any person that in the aggregate are more than $5,000.00 for multiple violations that involve the same conduct, action, or practice.

(b) After notice and hearing, impose other penalties that the director considers necessary and reasonable to carry out the purpose of this act, including, but not limited to, any of the following:

(i) Suspending the vendor's limited line portable electronics insurance producer license.

(ii) Suspending or revoking the ability of individual employees or authorized representatives to act under the vendor's license.

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. 1070.

 

(c) Senate Bill No. 1071.

 

(d) Senate Bill No. 1072.

 

(e) Senate Bill No. 1073.

 

(f) Senate Bill No. 1075.

 

(g) Senate Bill No. 1076.

 

(h) Senate Bill No. 1077.

 

(i) Senate Bill No. 1078.