Amends TCA Title 56, Chapter 37.

Tennessee SB0766 amends the "Premium Finance Company Act of 1980" to authorize licensees to impose and collect a convenience fee for payments made by electronic means, such as credit or debit cards, to offset processing costs. The bill affects insured individuals who utilize premium financing agreements and includes provisions that require licensees to notify insureds of the fee prior to payment, allow cancellation of the transaction without incurring a fee, and ensure that the convenience fee does not exceed the actual costs incurred by the licensee. Additionally, it permits handling charges for dishonored payments while limiting the number of such charges to one per transaction.