A bill to amend 1956 PA 218, entitled “The insurance code of 1956,” by amending section 1510 (MCL 500.1510), as amended by 1994 PA 6.
Amends Michigan's insurance code to clarify and limit delinquency and cancellation charges in insurance premium finance agreements, and establishes new rules for the imposition of electronic payment processing fees, ensuring they reflect actual costs and enhancing consumer protections.
Introduced
by
Referred to the Committee on Finance, Insurance, and Consumer Protection
