58-47-6Insurance producer license not required for vendor employees or representatives under certain conditions.

An employee or an authorized representative of a vendor may sell or offer portable electronics insurance to a customer and is not subject to licensure as an insurance producer if:

(1)    The vendor obtains a portable electronics license to authorize its employees or authorized representatives to sell or offer portable electronics insurance pursuant to this chapter;

(2)    The insurer issuing the portable electronics insurance either directly supervises or appoints a supervising entity to supervise the administration of the sale of portable electronic insurance; and

(3)    No employee or authorized representative of a vendor of portable electronics may advertise, represent, or otherwise hold himself or herself out as a licensed insurance producer unless so licensed.

Source: SL 2012, ch 251, § 6.