§ 10-4-1502 — Licensure of vendors

(1) A vendor shall hold a limited lines
producer license issued by the division in accordance with part 4 of article 2 of this
title in order to sell or offer coverage under a policy of portable electronics
insurance.

(2) A limited lines producer license issued for the purposes of this part 15
authorizes an 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.

(3) The supervising entity shall maintain a registry of vendor locations that
are authorized to sell or solicit portable electronics insurance coverage in this state.
Upon request by the commissioner and with ten days' notice to the supervising
entity, the supervising entity shall make the registry open to inspection and
examination by the commissioner during regular business hours of the supervising
entity.

(4) Notwithstanding any other provision of law, a license issued pursuant to
this part 15 authorizes the licensee and its employees or authorized representatives
to engage in those activities that are permitted in this part 15.

Legislative History

Source: L. 2012: Entire part added, (HB 12-1071), ch. 25, p. 69, � 1, effective January 1, 2013.