(a)        A vendor is required to hold a limited lines license to sell or offer coverage under a policy of portable electronics insurance.

(b)        A limited lines license issued under 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.

(c)        Notwithstanding any other provision of law, a license issued pursuant to this section shall authorize the licensee and its employees or authorized representatives to engage in those activities that are permitted in this section. ?(2011-225, s. 1.)

Terms Used In North Carolina General Statutes 58-44A-5

  • Customer: A person who purchases portable electronics or services. See North Carolina General Statutes 58-44A-1
  • Location: Any physical location in the State of North Carolina or any Web site, call center site, or similar location directed to residents of the State of North Carolina. See North Carolina General Statutes 58-44A-1
  • Portable electronics: Electronic devices that are portable in nature, their accessories, and services related to the use of the device. See North Carolina General Statutes 58-44A-1
  • Portable electronics insurance: Insurance providing coverage for the repair or replacement of portable electronics which may provide coverage for portable electronics against any one or more of the following causes of loss: (i) loss, (ii) theft, and (iii) inoperability due to mechanical failure, malfunction, damage, or other similar causes of loss. See North Carolina General Statutes 58-44A-1
  • Vendor: A person in the business of engaging in portable electronics transactions directly or indirectly. See North Carolina General Statutes 58-44A-1
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