Section 7002 - Licensure of vendors1.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. [2011, c. 297, §5(NEW).]
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. [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. [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. [2011, c. 297, §5(NEW).]
Added by 2011, c. 297,§ 5, eff. 9/28/2011.