Enacting a new Article 44A of GS Chapter 58 to regulate insurance providing coverage for the repair or replacement of portable electronics. Requires vendors to hold a limited license lines license to offer such insurance, and specifies application requirements and fees for the license. Requires vendors who offer such insurance to provide potential customers with written materials containing information specified in the statute, including that they are not required to purchase it, they have a right to cancel it at any time and to a refund of unearned premium, and of the policy’s material terms. Restricts conditions for insurer to terminate or otherwise change the terms and conditions of a policy. Provides for fines and license suspension of vendors for violations. Effective October 1, 2011.