                                 CODE OF VIRGINIA

LICENSURE OF VENDORS (§ 38.2-1876)

A. A vendor is required to hold a limited lines property and casualty insurance
agent license to sell or offer coverage under a policy of portable electronics
insurance.

B. On or before May 1, 2021, and biennially thereafter, each vendor licensed as
a limited lines property and casualty insurance agent shall submit to the
Commission a renewal application, along with a nonrefundable renewal application
processing fee prescribed by the Commission, for the renewal of the license. Any
limited lines property and casualty insurance agent license for which the
renewal application and nonrefundable renewal application processing fee have
been received by the Commission and all other applicable licensing and renewal
provisions in this chapter have been met shall, unless the license has been
terminated, suspended, or revoked, be renewed for a two-year period. Any limited
lines property and casualty insurance agent license for which the renewal
application and nonrefundable renewal application processing fee have not been
received by the Commission shall automatically be terminated.

C. A license issued under this article shall authorize any employee or
authorized representative of a licensed vendor to sell or offer portable
electronics insurance coverage under a policy of portable electronics insurance
to a customer at each location at which the vendor engages in portable
electronics transactions.

D. The acts of a licensed vendor&#8217;s employee or authorized representative
offering to sell coverage under a policy of portable electronics insurance shall
be deemed to be the acts of the vendor for purposes of this article.

E. Every licensed vendor shall maintain a list of all locations in the
Commonwealth where the vendor offers coverage under a policy of portable
electronics insurance and shall make the list available to the Commissioner for
inspection upon request.

F. Notwithstanding any other provision of law, a license issued pursuant to this
article shall authorize the licensed vendor&#8217;s employees and authorized
representatives to engage only in those activities that are expressly permitted
in this article.

HISTORY: 2011, c. 222; 2019, c. 675.