Maine Revised Statutes Title 24-A Sec. 7002 – Licensure of vendors
Current as of: 2023 | Check for updates
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1. License required. A vendor is required to hold a limited lines license under this chapter to sell or offer coverage under a policy of portable electronic device insurance.
[PL 2011, c. 297, §5 (NEW).]
Terms Used In Maine Revised Statutes Title 24-A Sec. 7002
- Customer: means a person who purchases a portable electronic device or service. See Maine Revised Statutes Title 24-A Sec. 7001
- Limited lines license: means a license to sell or offer a policy for portable electronic device insurance. See Maine Revised Statutes Title 24-A Sec. 7001
- Location: means any physical location in the State or any publicly accessible website, call center or similar operation directed to residents of the State. See Maine Revised Statutes Title 24-A Sec. 7001
- Portable electronic device: means an electronic device that is portable in nature, its accessories and services related to the use of the device. See Maine Revised Statutes Title 24-A Sec. 7001
- 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. See Maine Revised Statutes Title 24-A Sec. 7001
- Vendor: means a person in the business of engaging in portable electronic device transactions directly or indirectly. See Maine Revised Statutes Title 24-A Sec. 7001
2. Authority provided by license. A limited lines license issued under this chapter authorizes any employee or authorized representative of a vendor to sell or offer coverage under a policy of portable electronic device insurance to a customer at each location at which the vendor engages in portable electronic device transactions.
[PL 2011, c. 297, §5 (NEW).]
3. List of locations. In connection with a vendor’s application for licensure and upon request by the superintendent, the vendor shall provide a list to the superintendent of all locations in this State at which the vendor offers coverage.
[PL 2011, c. 297, §5 (NEW).]
4. Activities authorized by license. Notwithstanding any other provision of law, a license issued pursuant to this chapter authorizes the licensee and its employees or authorized representatives to engage only in those activities that are expressly permitted in this chapter.
[PL 2011, c. 297, §5 (NEW).]
SECTION HISTORY
PL 2011, c. 297, §5 (NEW).