Terms Used In Utah Code 31A-22-1809

• Customer: means a person who purchases portable electronics. See Utah Code 31A-22-1802
• Enrolled customer: means a customer who elects coverage under a portable electronics insurance policy issued to a vendor of portable electronics. See Utah Code 31A-22-1802
• Fiduciary: A trustee, executor, or administrator.
• Insurance: includes :
            (96)(b)(i) a risk distributing arrangement providing for compensation or replacement for damages or loss through the provision of a service or a benefit in kind;
            (96)(b)(ii) a contract of guaranty or suretyship entered into by the guarantor or surety as a business and not as merely incidental to a business transaction; and
            (96)(b)(iii) a plan in which the risk does not rest upon the person who makes an arrangement, but with a class of persons who have agreed to share the risk. See Utah Code 31A-1-301
• 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}
• Portable electronics: means :
       (4)(a) an electronic device that is portable in nature; and
       (4)(b) an accessory or service related to the use of the portable electronic device. See Utah Code 31A-22-1802
• Portable electronics insurance: means insurance providing coverage for the repair or replacement of portable electronics that provides coverage for portable electronics against any one or more of the following:
            (5)(a)(i) loss;
            (5)(a)(ii) theft;
            (5)(a)(iii) inoperability due to mechanical failure;
            (5)(a)(iv) malfunction;
            (5)(a)(v) damage; or
            (5)(a)(vi) other similar cause of loss. See Utah Code 31A-22-1802
• Premium: includes , however designated:
            (156)(b)(i) an assessment;
            (156)(b)(ii) a membership fee;
            (156)(b)(iii) a required contribution; or
            (156)(b)(iv) monetary consideration. See Utah Code 31A-1-301
• Vendor: means a person in the business of engaging in portable electronics transactions directly or indirectly. See Utah Code 31A-22-1802