AN ACT TO PROVIDE FOR THE REGULATION OF PORTABLE ELECTRONICS INSURANCE. Summarized in Daily Bulletin 4/5/11 and 5/18/11. Enacted June 23, 2011. Effective January 1, 2012.
PORTABLE ELECTRONICS INSURANCE COVERAGE.
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| View NCGA Bill Details | 2011-2012 Session |
TO PROVIDE FOR THE REGULATION OF PORTABLE ELECTRONICS INSURANCE.Intro. by Dockham.
Status: Ch. SL 2011-225 (House Action) (Jun 23 2011)
Bill History:
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Tue, 5 Apr 2011 House: Filed
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Wed, 6 Apr 2011 House: Passed 1st Reading
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Wed, 6 Apr 2011 House: Ref To Com On Insurance
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Wed, 18 May 2011 House: Reptd Fav Com Substitute
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Wed, 18 May 2011 House: Re-ref Com On Finance
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Fri, 3 Jun 2011 House: Reptd Fav
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Fri, 3 Jun 2011 House: Cal Pursuant Rule 36(b)
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Fri, 3 Jun 2011 House: Placed On Cal For 6/3/2011
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Fri, 3 Jun 2011 House: Passed 2nd & 3rd Reading
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Mon, 6 Jun 2011 Senate: Rec From House
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Mon, 6 Jun 2011 Senate: Passed 1st Reading
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Mon, 6 Jun 2011 Senate: Ref To Com On Finance
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Mon, 13 Jun 2011 Senate: Reptd Fav
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Tue, 14 Jun 2011 Senate: Passed 2nd & 3rd Reading
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Wed, 15 Jun 2011 Ratified
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Thu, 16 Jun 2011 Pres. To Gov. 6/16/2011
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Thu, 23 Jun 2011 Signed By Gov. 6/23/2011
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Thu, 23 Jun 2011 Ch. SL 2011-225
H 617/S.L. 2011-225
Bill Summaries:
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Summary date: Jun 30 2011 - View Summary
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Bill H 617 (2011-2012)Summary date: May 18 2011 - View Summary
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).
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Bill H 617 (2011-2012)Summary date: Apr 5 2011 - View Summary
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.
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