§7001. Definitions

As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings.   [PL 2011, c. 297, §5 (NEW).]

1.  Customer.  "Customer" means a person who purchases a portable electronic device or service.

[PL 2011, c. 297, §5 (NEW).]

2.  Enrolled customer.  "Enrolled customer" means a customer who elects coverage under a portable electronic device insurance policy issued to a vendor.

[PL 2011, c. 297, §5 (NEW).]

3.  Limited lines license.  "Limited lines license" means a license to sell or offer a policy for portable electronic device insurance.

[PL 2011, c. 297, §5 (NEW).]

4.  Location.  "Location" means any physical location in the State or any publicly accessible website, call center or similar operation directed to residents of the State.

[PL 2011, c. 297, §5 (NEW).]

5.  Portable electronic device.  "Portable electronic device" means an electronic device that is portable in nature, its accessories and services related to the use of the device.

[PL 2011, c. 297, §5 (NEW).]

6.  Portable electronic device insurance.  "Portable electronic device insurance" means insurance authorized under section 705 providing coverage for the repair or replacement of a portable electronic device that may cover a portable electronic device 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. "Portable electronic device insurance" does not include:

A. A service contract or extended warranty providing coverage limited to the repair, replacement or maintenance of property for the operational or structural failure of property due to a defect in materials, workmanship, accidental damage from handling or normal wear and tear;   [PL 2011, c. 297, §5 (NEW).]

B. A policy of insurance covering a seller's or a manufacturer's obligations under a warranty; or   [PL 2011, c. 297, §5 (NEW).]

C. Homeowner's or renter's insurance, private passenger automobile insurance, commercial multiple peril insurance or any similar policy.   [PL 2011, c. 297, §5 (NEW).]

[PL 2011, c. 297, §5 (NEW).]

7.  Portable electronic device transaction.  "Portable electronic device transaction" means:

A. The sale or lease of a portable electronic device by a vendor to a customer; or   [PL 2011, c. 297, §5 (NEW).]

B. The sale of a service related to the use of a portable electronic device by a vendor to a customer.   [PL 2011, c. 297, §5 (NEW).]

[PL 2011, c. 297, §5 (NEW).]

8.  Supervising entity.  "Supervising entity" means a business entity that is a licensed insurance producer or insurer.

[PL 2011, c. 297, §5 (NEW).]

9.  Vendor.  "Vendor" means a person in the business of engaging in portable electronic device transactions directly or indirectly.

[PL 2011, c. 297, §5 (NEW).]

SECTION HISTORY

PL 2011, c. 297, §5 (NEW).