New Jersey Statutes 17:22A-54. Availability of information to consumers
Terms Used In New Jersey Statutes 17:22A-54
- 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: includes corporations, companies, associations, societies, firms, partnerships and joint stock companies as well as individuals, unless restricted by the context to an individual as distinguished from a corporate entity or specifically restricted to one or some of the above enumerated synonyms and, when used to designate the owner of property which may be the subject of an offense, includes this State, the United States, any other State of the United States as defined infra and any foreign country or government lawfully owning or possessing property within this State. See New Jersey Statutes 1:1-2
a. disclose that portable electronics insurance may provide a duplication of coverage already provided by a consumer’s homeowner’s insurance policy, renter’s insurance policy or other source of coverage;
b. state that enrollment by the consumer in a portable electronics insurance program is not required in order to purchase or lease portable electronics or services;
c. summarize the material terms of the insurance coverage, including:
(1) the identity of the insurer;
(2) the identity of the supervising entity;
(3) the amount of any applicable deductible and how it is to be paid;
(4) benefits of the coverage; and
(5) key terms and conditions of coverage, such as whether portable electronics may be repaired or replaced with similar make and model reconditioned or non-original manufacturer parts or equipment;
d. summarize the process for filing a claim, including a description of how to return portable electronics and the maximum fee applicable in the event that the enrolled consumer fails to comply with any equipment return requirements; and
e. state that an enrolled consumer may cancel enrollment for coverage under a portable electronics insurance policy at any time and the person paying the premium shall receive a refund or credit of any applicable unearned premium.
L.2012, c.56, s.6.