Kansas Statutes 40-5602. Definitions
Terms Used In Kansas Statutes 40-5602
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
For purposes of this act:
(a) “Commissioner” means the commissioner of insurance.
(b) “Covered customer” means a customer who elects coverage under a portable electronics insurance policy issued to a vendor of portable electronics devices.
(c) “Customer” means a person who purchases or leases portable electronics devices or services.
(d) “Insurance producer” shall have the meaning ascribed to it in Kan. Stat. Ann. § 40-4902, and amendments thereto.
(e) “Location” means any physical location in the state of Kansas.
(f) “Portable electronic device” means an electronic device that is portable in nature. The term portable electronic device also includes any accessory for such device and any service related to the use of such portable electronic device that is sold to a customer.
(g) “Portable electronic devices” does not mean devices used exclusively by communication companies or commercial entities to provide service to a customer.
(h) (1) “Portable electronics insurance” means insurance providing coverage for the repair or replacement of portable electronics devices which may provide coverage for portable electronics devices against any one or more of the following causes of loss: loss, theft, are inoperable due to mechanical failure, malfunction, damage or other similar causes of loss.
(2) “Portable electronics insurance” does not include:
(A) Any service contract as defined by Kan. Stat. Ann. § 40-201a, and amendments thereto;
(B) any policy of insurance covering a seller’s or a manufacturer’s obligations under a warranty; or
(C) any homeowner’s, renter’s, private passenger automobile, commercial multiperil, or similar policy.
(i) “Portable electronics transaction” means:
(1) The sale or lease of portable electronics device by a vendor to a customer; or
(2) the sale of a service related to the use of portable electronics device by a vendor to a customer.
(j) “Supervising entity” means a business entity that is a licensed insurance producer or insurer.
(k) “Vendor” means a person in the business of engaging in portable electronics transactions directly or indirectly.