SB 6543 - DIGEST

     Requires automobile clubs furnishing bail bond service and accident and sickness or death insurance benefits to its members to purchase such insurance from a company licensed and authorized to sell such coverages in the state.

     Provides that an automobile club that offers its members any of the services referred to in this act shall not render any automobile club service prior to being licensed by the commissioner.

     Requires an automobile club licensed under this act to file a bond in the amount of one hundred thousand dollars with the state treasurer.

     Authorizes the commissioner to suspend, revoke, or refuse to renew any club agent's registration, if it is found that the club agent:  (1) Has violated any of the provisions of this act;

     (2) has misappropriated or converted to private use, or has illegally withheld, moneys required to be held in a fiduciary capacity;

     (3) has materially misrepresented the terms or effects of any contract or has engaged in any fraudulent transaction;

     (4) has shown himself or herself to be incompetent, untrustworthy, or a source of injury and loss to the automobile club service-buying public; or

     (5) has been convicted of a crime involving fraud or dishonesty.