Okla. Stat. tit. 36 § 6670

Current through Laws 2024, c. 453.

Section 6670 - Definitions

As used in this section through Section 6676 of this title:

1. "Commissioner" means the Insurance Commissioner;

2. "Enrolled customer" means a customer who elects coverage under a portable electronics insurance policy issued to a vendor of portable electronics;

3. "Customer" means a person who purchases portable electronics or services;

4. "Location" means any physical location in the State of Oklahoma or any website, call center site, or similar location directed to residents of the State of Oklahoma;

5. "Portable electronics" means electronic devices that are portable in nature, their accessories and services related to the use of the device;

6. "Portable electronics insurance" means 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: loss, theft, inoperability due to mechanical failure, malfunction, damage or other similar causes of loss. "Portable electronics insurance" does not include:

a. a service contract governed by the Service Warranty Act,

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 multi-peril, or similar policy, or

d. a contract excluded from the definition of a service warranty as set forth by subparagraphs a through g of paragraph 17 of Section 141.2 of Title 15 of the Oklahoma Statutes;

7. "Portable electronics transaction" means:

a. the sale or lease of portable electronics by a vendor to a customer, or

b. the sale of a service related to the use of portable electronics by a vendor to a customer;

8. "Supervising entity" means a business entity that is a licensed insurer or insurance producer; and

9. "Vendor" means a person in the business of engaging in portable electronics transactions directly or indirectly.

Okla. Stat. tit. 36, § 6670

Amended by Laws 2016 , c. 73, s. 14, eff. 11/1/2016.

Amended without change by Laws 2013 , c. 15, s. 23, eff. 4/8/2013.

Amended by Laws 2013 , c. 15, s. 22, eff. 4/8/2013.

Added by Laws 2011 , SB 801, c. 93, §1, eff. 11/1/2011; Amended by Laws 2012 , SB 1012, c. 147, §1, eff. 11/1/2012; Amended by Laws 2012 , SB 1475, c. 150, §36, eff. 11/1/2012.