Ark. Code § 23-88-501

Current with legislation from 2024 Fiscal and Special Sessions.

Section 23-88-501 - Definitions

As used in this subchapter:

(1) "Customer" means a person who purchases portable electronics or services;

(2) "Enrolled customer" means a customer who elects to have coverage under a portable electronics insurance policy issued by a vendor;

(3) "Location" means, as directed to residents of the State of Arkansas:

(A) A physical location in this state;

(B) A website; or

(C) A call center site or similar location;

(4) "Portable electronics" means electronic devices that are portable in nature, including the accessories and services related to the use of the electronic device;

(5)

(A) "Portable electronics insurance" means insurance for the repair or replacement of portable electronics that includes the following causes of loss:

(i) Loss;

(ii) Theft; and

(iii) Inoperability due to mechanical failure, malfunction, damage, or other similar causes of loss.

(B) "Portable electronics insurance" does not include a service contract governed by the Service Contracts Act, § 4-114-101 et seq.;

(6) "Portable electronics transaction" means:

(A) The sale or lease to a customer of portable electronics by a vendor; or

(B) The sale of a service related to the use of portable electronics to a customer by a vendor;

(7) "Supervising entity" means a business entity that is an insurer or insurance producer licensed under the insurance laws of this state; and

(8) "Vendor" means a person that engages in the business of portable electronics transactions.

Ark. Code § 23-88-501

Acts 2011, No. 1018, § 1.