As 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 website, 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: (i) loss, (ii) theft, and (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.
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