§ 23-88-501 — Definitions

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, § 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.

Legislative History

Acts 2011, No. 1018, § 1.