33-24-203. Licensure of vendors -- rulemaking.
172 words·~1 min read·
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33-24-203 . Licensure of vendors -- rulemaking.
(1)A vendor must hold a limited lines insurance producer license to sell or offer coverage under a policy of portable electronics insurance.
(2)A license issued under this part authorizes any employee or authorized representative of the vendor to sell or offer coverage under a policy of portable electronics insurance to a customer at each location at which the vendor engages in portable electronics transactions.
(3)The supervising entity shall maintain a registry of vendor locations that are authorized to sell or solicit portable electronics insurance coverage in this state. Upon request by the commissioner and with 10 days' notice to the supervising entity, the registry must be open to inspection and examination by the commissioner during regular business hours of the supervising entity.
(4)A license issued under this part authorizes the licensee and its employees or authorized representatives to engage in those activities that are permitted in this part.
(5)The commissioner may adopt rules to implement the provisions of this part.