New Hampshire Revised Statutes 402-K:1 – Definitions
Current as of: 2023 | Check for updates
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In this chapter:
I. “Commissioner” means the insurance commissioner.
II. “Customer” means a person who purchases portable electronics or services.
III. “Enrolled customer” means a customer who elects coverage under a portable electronics insurance policy issued to a vendor of portable electronics.
IV. “Location” means any physical location in the state of New Hampshire or any Internet website, call center site, or similar location directed to residents of the state of New Hampshire.
V. “Portable electronics” means electronic devices that are portable in nature, their accessories and services related to the use of the device.
VI. “Portable electronics insurance” means insurance providing coverage for the repair or replacement of portable electronics which may provide coverage for portable electronics 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. “Portable electronics insurance” does not include:
(a) A service contract governed by RSA 415-C;
(b) A service contract or extended warranty providing coverage limited to the repair, replacement, or maintenance of property for the operational or structural failure of property due to a defect in materials, workmanship, accidental damage from handling, power surges, or normal wear and tear;
(c) A policy of insurance covering a seller’s or a manufacturer’s obligations under a warranty; or
(d) A homeowner’s, renter’s, motor vehicle, commercial multi-peril, or similar policy.
VII. “Portable electronics transaction” means:
(a) The sale or lease of portable electronics by a vendor to a customer; or
(b) The sale of a service related to the use of portable electronics by a vendor to a customer.
VIII. “Supervising entity” means a business entity that is a licensed insurer or insurance producer that is appointed or authorized by an insurer to supervise the administration of a portable electronics insurance program.
IX. “Vendor” means a person in the business of engaging in portable electronics transactions directly or indirectly.
I. “Commissioner” means the insurance commissioner.
Terms Used In New Hampshire Revised Statutes 402-K:1
- Contract: A legal written agreement that becomes binding when signed.
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- person: may extend and be applied to bodies corporate and politic as well as to individuals. See New Hampshire Revised Statutes 21:9
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
II. “Customer” means a person who purchases portable electronics or services.
III. “Enrolled customer” means a customer who elects coverage under a portable electronics insurance policy issued to a vendor of portable electronics.
IV. “Location” means any physical location in the state of New Hampshire or any Internet website, call center site, or similar location directed to residents of the state of New Hampshire.
V. “Portable electronics” means electronic devices that are portable in nature, their accessories and services related to the use of the device.
VI. “Portable electronics insurance” means insurance providing coverage for the repair or replacement of portable electronics which may provide coverage for portable electronics 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. “Portable electronics insurance” does not include:
(a) A service contract governed by RSA 415-C;
(b) A service contract or extended warranty providing coverage limited to the repair, replacement, or maintenance of property for the operational or structural failure of property due to a defect in materials, workmanship, accidental damage from handling, power surges, or normal wear and tear;
(c) A policy of insurance covering a seller’s or a manufacturer’s obligations under a warranty; or
(d) A homeowner’s, renter’s, motor vehicle, commercial multi-peril, or similar policy.
VII. “Portable electronics transaction” means:
(a) The sale or lease of portable electronics by a vendor to a customer; or
(b) The sale of a service related to the use of portable electronics by a vendor to a customer.
VIII. “Supervising entity” means a business entity that is a licensed insurer or insurance producer that is appointed or authorized by an insurer to supervise the administration of a portable electronics insurance program.
IX. “Vendor” means a person in the business of engaging in portable electronics transactions directly or indirectly.