Louisiana Revised Statutes 22:1781.2 – Licensure of vendors
Terms Used In Louisiana Revised Statutes 22:1781.2
- Commissioner: means the commissioner of insurance. See Louisiana Revised Statutes 22:1781.1
- Customer: means a person who purchases portable electronics or services. See Louisiana Revised Statutes 22:1781.1
- Location: means any physical location in the state of Louisiana or any website, call center site, or similar location directed to residents of the state of Louisiana. See Louisiana Revised Statutes 22:1781.1
- Portable electronics: means electronic devices that are portable in nature, their accessories, and services related to the use of the device. See Louisiana Revised Statutes 22:1781.1
- Portable electronics insurance: means insurance providing coverage for the repairs or replacement of portable electronics which may provide coverage for portable electronics against any one or more of the following causes of loss: loss, theft, inoperability due to mechanical failure, malfunction, damage, or other similar causes of loss. See Louisiana Revised Statutes 22:1781.1
- Vendor: means a person in the business of engaging in portable electronics transactions directly or indirectly. See Louisiana Revised Statutes 22:1781.1
Notwithstanding any other provision of law to the contrary, the following requirements apply to the licensure of vendors of portable electronic devices:
(1) A vendor is required to hold a limited lines license to sell or offer coverage under a policy of portable electronics insurance.
(2) A limited lines license issued pursuant to this Section shall authorize any employee or authorized representative of the vendor to sell or offer coverage under a policy of portable electronics insurance to a customer at each location at which the vendor engages in portable electronics transactions. The vendor shall be responsible for the conduct and actions related to the sale or offering of portable electronics insurance of all employees and authorized representatives and any payment of the premium for portable electronics insurance to an employee or authorized representative shall be deemed payment to the vendor.
(3) In connection with a vendor’s application for licensure and upon license renewal, the vendor shall provide a list to the commissioner of all locations in the state at which it offers coverage.
Acts 2012, No. 311, §1.