Insurance: other; processing fees; allow premium finance companies to collect. Amends sec. 1510 of 1956 PA 218 (MCL 500.1510).

This bill allows premium finance companies in Michigan to charge fees for processing insurance payments made via credit cards, debit cards, or other electronic methods. The law requires these companies to limit fees to the actual costs incurred for processing, notify customers before charging, and offer a free alternative payment option like cash or check. It also clarifies rules for delinquency charges on unpaid installments and cancellation fees if a policy is terminated due to non-payment.