ECONOMIC REVITALIZATION & BUSINESS – Stand. Comm. Rep. No. 1073-12 D – S.B. No. 2655, S.D. 2, H.D. 1 RELATING TO PORTABLE ELECTRONICS INSURANCE. (Portable Electronics Insurance; Vendors; License) AS AMENDED, PASS SECOND READING, REFER TO CONSUMER PROTECTION & COMMERCE
-Establishes provisions for the sale of portable electronics insurance. Requires vendors to hold a limited lines license to sell or offer coverage under a policy. The bill provides that a vendor shall hold a limited lines license in order to sell or offer coverage under a policy of portable electronics insurance. The bill establishes the license application process and creates an initial issuance licensing fee of $2,000 plus a $1,200 license fee for the initial or renewal term.
Excerpt from Capitol TV