Tex. Ins. Code § 4055.253

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 4055.253 - Authority of Vendor of Portable Electronic Devices

(a) A vendor licensed under this subchapter and the vendor's employee and authorized representative may act as an agent for an authorized insurer in connection with the sale and use of portable electronic devices and related services only with respect to:

(1) insurance coverage provided to customers that covers portable electronic devices against one or more of the following:

(A) loss;

(B) theft;

(C) mechanical failure;

(D) malfunction;

(E) damage; or

(F) other applicable perils; or

(2) the provision of any other coverage the commissioner approves as meaningful and appropriate in connection with the use of portable electronic devices or related services.

(b) A vendor licensed under this subchapter may bill a customer for, and collect from a customer payment for, insurance coverage provided to the customer under this subchapter.

(c) An insurer issuing a policy to a licensed vendor is considered to have received a premium from a vendor's customer enrolled in coverage on the customer's payment of the premium to the vendor.

Tex. Ins. Code § 4055.253

Amended by Acts 2013, 83rd Leg. - Regular Session, ch. 1174,Sec. 2, eff. 9/1/2013.

Amended By Acts 2009, 81st Leg., R.S., Ch. 121, Sec. 1, eff. 9/1/2009.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. 4/1/2005.