Section 58-44A-1 - DefinitionsAs used in this Article, the following definitions apply:
(1) Customer. - A person who purchases portable electronics or services.(2) Enrolled customer. - A customer who elects coverage under a portable electronics insurance policy issued to a vendor of portable electronics.(3) Location. - Any physical location in the State of North Carolina or any Web site, call center site, or similar location directed to residents of the State of North Carolina.(4) Portable electronics. - Electronic devices that are portable in nature, their accessories, and services related to the use of the device.(5) Portable electronics insurance. - Insurance providing coverage for the repair or replacement of portable electronics which may provide coverage for portable electronics against any one or more of the following causes of loss: (iii) inoperability due to mechanical failure, malfunction, damage, or other similar causes of loss. The term does not include the following: a. A service contract or extended warranty providing coverage limited to the repair, replacement, or maintenance of property for the operational or structural failure of the property due to a defect in materials, workmanship, accidental damage from handling, power surges, or normal wear and tear.b.A policy of insurance covering a seller's or a manufacturer's obligations under a warranty.c. A homeowner's, renter's, private passenger automobile, commercial multiperil, or similar policy.(6) Portable electronics transaction. - Either of the following: a. The sale or lease of portable electronics by a vendor to a customer.b. The sale of a service related to the use of portable electronics by a vendor to a customer.(7) Supervising entity. - A business entity that is a licensed insurer or insurance producer.(8) Vendor. - A person in the business of engaging in portable electronics transactions directly or indirectly.N.C. Gen. Stat. § 58-44A-1
Added by 2011 N.C. Sess. Laws 225,s. 1, eff. 1/1/2012.