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Montana Title 33. Insurance and Insurance Companies § 33-24-202. Definitions

Current as of January 01, 2024 | Updated by Findlaw Staff

As used in this part, the following definitions apply:

(1) “Customer” means a person who purchases portable electronics or services related to the use of portable electronics.

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

(3) “Location” means any physical location in this state or any website, call center site, or similar location directed to residents of this state.

(4) “Portable electronics” means electronic devices that are portable in nature and their accessories.

(5)(a) “Portable electronics insurance” means insurance providing coverage for the repair or replacement of portable electronics that may provide coverage for portable electronics against loss, theft, inoperability due to mechanical failure, malfunction, damage, or other similar causes of loss. Portable electronics insurance also includes any agreement in which a person or any legal entity, in exchange for consideration paid, agrees to provide for the future repair, replacement, or provision of portable electronics.

(b) The term does not include:

(i) a service contract governed by Title 30, chapter 14, part 13;

(ii) a policy of insurance covering a seller's or a manufacturer's obligations under a warranty; or

(iii) a homeowner's, renter's, private passenger automobile, commercial, or similar policy.

(6) “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.

(7) “Supervising entity” means a business entity that is a licensed insurer or insurance producer that is authorized by a licensed insurer to supervise the administration of a portable electronics insurance program.

(8)(a) “Vendor” means a person in the business of engaging in portable electronics transactions directly or indirectly.

(b) The term does not include a cooperative organized and transacting business in this state pursuant to Title 35, chapter 18, its subsidiaries, or any other entity affiliated with the cooperative or its subsidiaries through common ownership.

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Cite this article: FindLaw.com - Montana Title 33. Insurance and Insurance Companies § 33-24-202. Definitions - last updated January 01, 2024 | https://codes.findlaw.com/mt/title-33-insurance-and-insurance-companies/mt-st-33-24-202/

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