Subject to Subsection 31A-22-1804(2) and Section 31A-23a-103, a vendor is required to hold a portable electronics limited lines license to sell or offer coverage under a portable electronics insurancepolicy.
Terms Used In Utah Code 31A-22-1803
Customer: means a person who purchases portable electronics. See Utah Code 31A-22-1802
Employee: means :
(a)
an individual employed by an employer; or
(b)
an individual who meets the requirements of Subsection (53)(b). See Utah Code 31A-1-301
Insurance: includes :
(i)
a risk distributing arrangement providing for compensation or replacement for damages or loss through the provision of a service or a benefit in kind;
(ii)
a contract of guaranty or suretyship entered into by the guarantor or surety as a business and not as merely incidental to a business transaction; and
(iii)
a plan in which the risk does not rest upon the person who makes an arrangement, but with a class of persons who have agreed to share the risk. See Utah Code 31A-1-301
License: includes a certificate of authority issued to an insurer. See Utah Code 31A-1-301
Location: means a physical location in the state or a website, call center site, or similar location directed to residents of the state. See Utah Code 31A-22-1802
an electronic device that is portable in nature; and
(b)
an accessory or service related to the use of the portable electronic device. See Utah Code 31A-22-1802
Portable electronics insurance: means insurance providing coverage for the repair or replacement of portable electronics that provides coverage for portable electronics against any one or more of the following:
State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
Vendor: means a person in the business of engaging in portable electronics transactions directly or indirectly. See Utah Code 31A-22-1802
(2)
A portable electronics limited lines license issued under this section authorizes an employee or authorized representative of the vendor to sell or offer coverage under a portable electronics insurance policy to a customer at each location at which the vendor who holds the limited lines license engages in portable electronics transactions.
(3)
Notwithstanding any other provision of law, a limited lines license issued under this section authorizes the licensee and the licensee’s employees or authorized representatives to engage in those activities that are permitted by this section.
(4)
A supervising entity shall maintain a registry of vendor locations at which the vendor is authorized to sell or offer portable electronics insurance coverage in this state. Upon request by the commissioner and with three business days notice to the supervising entity, the supervising entity shall make the registry open to inspection and examination by the commissioner during regular business hours of the supervising entity.
