§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).