§ 23-88-501. Definitions

As used in this subchapter:

1. (1) “Customer” means a person who purchases portable electronics or services;

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

3. (3) “Location” means, as directed to residents of the State of Arkansas:

   1. (A) A physical location in this state;

   2. (B) A website; or

   3. (C) A call center site or similar location;

4. (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. (5)

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

      1. (i) Loss;

      2. (ii) Theft; and

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

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

6. (6) “Portable electronics transaction” means:

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

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

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

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