Portable Electronics Limited Lines
Act 311 of the 2012 Regular Legislative session requires vendors of portable electronic devices to hold a Portable Electronics Limited Lines license to offer insurance coverage for the repair or replacement of a portable electronic device. Vendors engaged in the sale of portable electronics insurance on or before the effective date of this act are required to apply for licensure within 90 days.
Resident or Non-Resident Insurance Business Entity Application
Portable electronic insurance is defined as insurance coverage for the repair or replacement of a portable electronic device due to loss, theft, inoperability due to mechanical failure, malfunction, damage, or other similar causes of loss. Service contracts or extended warranties providing coverage limited to the repair, replacement, or maintenance due to a defect in materials, workmanship, accidental damage from handling, power surges, or normal wear and tear are not considered to be portable electronic insurance.
The license is issued to the vendor and authorizes any employee or authorized representative of the vendor to sell or offer portable electronics insurance at any location in Louisiana where the vendor operates. The application fee for a Portable Electronics Limited Lines license is $200. The license renews December 31 of every even-numbered year. The renewal fee is $100. A list of all Louisiana locations where business will be transacted along must accompany the application.