Section 17:22A-51 - Vendor may offer insurance to consumersThe employees and authorized representatives of a vendor holding a limited lines insurance producer license may sell or offer to sell portable electronics insurance to consumers as permitted by section 2 of this act and shall not be subject to individual licensure as an insurance producer under P.L. 2001, c. 210(C.17:22A-26 et seq.) or this act as a result of those activities so long as:
a. The vendor obtains a limited lines license to authorize its employees or authorized representatives to sell or offer portable electronics insurance pursuant to this act; andb. The insurer issuing the portable electronics insurance either directly supervises or appoints a supervising entity to supervise the administration of the program, including development of a training program for employees and authorized representatives of the vendors. The training required by this subsection: (1) shall be delivered to employees and authorized representatives of a vendor who are directly engaged in the activity of selling or offering portable electronics insurance;(2) may be provided in electronic form; however, if conducted in electronic form the supervising entity shall implement a supplemental education program regarding the portable electronics insurance that is conducted and overseen by licensed employees of the supervising entity; and(3) shall include basic instruction about the portable electronics insurance offered to consumers and the disclosures required under section 6 of this act.Added by L. 2012, c. 56,s. 3, eff. 9/19/2012.