California Insurance Code 1758.62 – (a) An applicant for a portable electronics insurance agent …
(a) An applicant for a portable electronics insurance agent license under this article shall submit all of the following to the commissioner:
(1) A written application for licensure, signed by the applicant or an officer of the applicant, in the form prescribed by the commissioner.
Terms Used In California Insurance Code 1758.62
- Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
- insurance agent: as used in this chapter does not include a life agent as defined in this article. See California Insurance Code 1621
- license: includes a certificate of convenience and a permanent license, and the term "persons who are licensed" includes the holders of any such certificate or the license, but these definitions and the use of those terms in this chapter shall not confer upon a certificate of convenience or any holder thereof any property right in or to the certificate, the certificate being and remaining only a temporary permit, issued as a matter of convenience, allowing the transaction of insurance without a permanent license, but within the limits, and subject to the conditions of the certificate of convenience issued and the laws applicable thereto. See California Insurance Code 1627
- License period: means all of that two-year period beginning as described in subparagraph (A) or (B) of paragraph (2), as applicable, and ending the second succeeding year on the last calendar day of the month in which the initial license was issued. See California Insurance Code 1758.69
- organization: means any legal entity other than a natural person. See California Insurance Code 1628
- Person: means any person, association, organization, partnership, business trust, limited liability company, or corporation. See California Insurance Code 19
- Portable electronics: means all of the following:
California Insurance Code 1758.69
- Portable electronics insurance: means a contract providing coverage for the repair or replacement of portable electronics against any one or more of the following causes of loss: loss, theft, mechanical failure, malfunction, damage, or other applicable perils. See California Insurance Code 1758.69
- Portable electronics insurance agent license: means an agent license issued to an individual or organization for the enrollment and sale of portable electronics insurance. See California Insurance Code 1758.69
(2) A certificate by the insurer that is to be named in the portable electronics insurance agent license, stating that the insurer has satisfied itself that the named applicant is trustworthy and competent to act as its insurance agent limited to this purpose and that the insurer will appoint the applicant to act as its agent to transact the kind or kinds of insurance that are permitted by this article, if the portable electronics insurance agent license applied for is issued by the commissioner. The certification shall be subscribed by an officer or managing agent of the insurer on a form prescribed by the commissioner.
(3) An application fee, and, for each license period thereafter, a renewal fee, of two hundred ninety-two dollars ($292).
(b) Notwithstanding any other law to the contrary, the provisions set forth in Sections 1667, 1668, 1668.5, 1669, 1670, 1738, and 1739 apply to any application for or issuance of a license pursuant to this article.
(c) Costs associated with any enforcement action or investigation shall be paid for by the person or organization licensed pursuant to this article.
(Amended by Stats. 2017, Ch. 534, Sec. 42. (AB 1699) Effective January 1, 2018.)