House committee substitute makes the following changes to 1st edition. Deletes provision in proposed GS 58-44A-5 concerning the requirement of a vendor to provide a list to the Commissioner of Insurance (Commissioner) of all locations in North Carolina at which the vendor offers portable electronic insurance coverage. Amends proposed GS 58-44A-10 to require the terms of the termination or modification of coverage under a policy of portable electronic insurance be set forth in the policy. Rewrites proposed GS 58-44A-20 to provide penalties in the event a vendor of portable electronics or its employees or authorized representative violates any provision concerning portable electronics insurance coverage. Deletes provisions in previous edition concerning the termination of portable electronics insurance. Rewrites proposed GS 58-44A-25 to detail two items that must be filed with the Commissioner for issuance of a limited lines license, and deletes other requirements and fees for application in previous edition. Makes other technical changes. Changes the effective date to January 1, 2012 (previously October 1, 2011).