As used in this subchapter:
(1) "Customer" means a person who purchases portable electronics or services;
(2) "Enrolled customer" means a customer who elects to have coverage under a portable electronics insurance policy issued by a vendor;
(3) "Location" means, as directed to residents of the State of Arkansas:
(A) A physical location in this state;
(B) A website; or
(C) A call center site or similar location;
(4) "Portable electronics" means electronic devices that are portable in nature, including the accessories and services related to the use of the electronic device;
(5) (A) "Portable electronics insurance" means insurance for the repair or replacement of portable electronics that includes the following causes of loss:
(i) Loss;
(ii) Theft; and
(iii) Inoperability due to mechanical failure, malfunction, damage, or other similar causes of loss.
(B) "Portable electronics insurance" does not include a service contract governed by the Service Contracts Act, ยง 4-114-101 et seq.;
(6) "Portable electronics transaction" means:
(A) The sale or lease to a customer of portable electronics by a vendor; or
(B) The sale of a service related to the use of portable electronics to a customer by a vendor;
(7) "Supervising entity" means a business entity that is an insurer or insurance producer licensed under the insurance laws of this state; and
(8) "Vendor" means a person that engages in the business of portable electronics transactions.
Section: 23-88-502 23-88-503 23-88-504 23-88-505 23-88-506 23-88-507 NextLast modified: November 15, 2016