26.1-26.7-02. Licensure of vendors

26.1-26.7-02. Licensure of vendors 1. A vendor shall hold a limited lines license under this section to sell or offer coverage under a policy of portable electronics insurance. 2. A limited lines license issued under this section is limited to authorizing a vendor and the vendor's employees or authorized representatives to sell or offer coverage under a policy of portable electronics insurance to a customer to whom the vendor and the vendor's employees or authorized representatives sells or leases a portable electronic device or services related to the use of a portable electronic device. 3. A limited lines license issued under this section authorizes a vendor and the vendor's employees or authorized representatives to sell or offer portable electronics insurance coverage at each location at which the vendor engages in portable electronics transactions. 4. The vendor shall maintain a registry of locations that are authorized to sell or solicit portable electronics insurance coverage in this state. Upon request by the commissioner, and with five days' notice to the vendor, the vendor shall provide the registry to the commissioner for inspection and examination. 5. Notwithstanding any other provision of law, a license issued under this section authorizes the licensee and the licensee's employees or authorized representatives to engage only in those activities that are permitted in this chapter in connection with the business of insurance unless authorized to do so under an existing license issued by the commissioner. 6. A vendor, and the vendor's employees or authorized representatives, are exempt from the continuing education requirements of section 26.1-26-31.1.