Indiana Code 27-1-15.9-3. “Insured customer”
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Terms Used In Indiana Code 27-1-15.9-3
- customer: means a person who purchases portable electronics. See Indiana Code 27-1-15.9-2
- Insurance: means a contract of insurance or an agreement by which one (1) party, for a consideration, promises to pay money or its equivalent or to do an act valuable to the insured upon the destruction, loss or injury of something in which the other party has a pecuniary interest, or in consideration of a price paid, adequate to the risk, becomes security to the other against loss by certain specified risks; to grant indemnity or security against loss for a consideration. See Indiana Code 27-1-2-3
- portable electronics: means electronic devices that are portable in nature. See Indiana Code 27-1-15.9-5
- vendor: means a business entity that directly or indirectly engages in portable electronics transactions. See Indiana Code 27-1-15.9-9
Sec. 3. As used in this chapter, “insured customer” means a customer who purchases insurance under a portable electronics insurance policy that is issued to a vendor.
As added by P.L.4-2012, SEC.3.