TRAVEL PROMOTION ACT



House Bill 4462 and 4463

Sponsor: Rep. Derrick Hale

Committee: Family and Civil Law


Complete to 7-7-99



A SUMMARY OF HOUSE BILLS 4462 AND 4463 AS INTRODUCED 4-13-99


House Bill 4462 would create a new act, the Travel Promotion Act, to regulate the business of travel promotion. Under the bill, a "travel promoter" would be a person primarily engaged in soliciting and/or selling tickets for transportation or transportation-related services. A person could not act as a travel promoter unless he or she had obtained at least one of the following: at least $1 million in errors and omissions insurance; a $10,000 surety bond or letter of credit, payable to his or her customers; proof of accreditation in the Airline Reporting Corporation [ARC], but only if the accreditation required bonding equal to or exceeding the bill's $10,000 surety bond provision; or an escrow fund. A travel promoter who did not have either insurance, a surety bond, or ARC accreditation would be required to have an escrow fund, and to immediately deposit 90 percent of all money received from a customer for payment of transportation or related services into the account. The account would have to be in a federally-insured depository institution and the travel promoter could not encumber the account in any manner. Withdrawals from the account could be made only for: partial or full payment of transportation or related services for a customer, customer refunds, or interest on the account, which could be withdrawn monthly.


A travel promoter would be required to conspicuously post a sign setting forth the following:


MICHIGAN TRAVEL DISCLOSURES