Authorizes service charges for gap waivers

This bill permits auto lenders to charge a service fee of up to $750 when buyers pay to waive "gap" liability (the difference between a car loan balance and its actual value if totaled or stolen). It applies only when the lender has purchased approved gap insurance from a licensed insurer, and the fee must be added to the insurance cost - not charged separately. The policy directly affects car buyers financing vehicles and lenders offering gap coverage, ensuring fees align with insurance costs. It modifies existing insurance and personal property law to clarify these terms.