Okla. Stat. tit. 36, § 36-6673: Sale of portable electronics insurance - Licensure

exemptions.

A. The employees and authorized representatives of vendors may

sell or offer portable electronics insurance to customers and shall

not be subject to licensure as an insurance producer pursuant to

Section 2 of this act if:

1. The vendor obtains a limited lines license to authorize its

employees or authorized representatives to sell or offer portable

electronics insurance pursuant to Section 2 of this act;

2. The insurer issuing the portable electronics insurance

either directly supervises or appoints a supervising entity to

supervise the administration of the program including development of

a training program for employees and authorized representatives of

the vendors. The training required by this paragraph shall comply

with the following:

a. the training shall be delivered to employees and

authorized representatives of a vendor who is directly

engaged in the activity of selling or offering

portable electronics insurance,

b. the training may be provided in electronic form. If

conducted in an electronic form, the supervising

entity shall implement a supplemental education

program regarding portable electronics insurance that

is conducted and overseen by licensed employees of the

supervising entity, and

c. each employee and authorized representative shall

receive basic instruction about the portable

electronics insurance offered to customers and the

disclosures required pursuant to Section 3 of this

act.

No employee or authorized representative of a vendor of portable

electronics shall advertise, represent or otherwise hold himself or

herself out as a non limited lines licensed insurance producer.

B. The charges for portable electronics insurance coverage may

be billed and collected by the vendor of portable electronics. Any

charge to the enrolled customer for coverage that is not included in

the cost associated with the purchase or lease of portable

electronics or related services shall be separately itemized on the

enrolled customer’s bill. If the coverage is included with the

purchase or lease of portable electronics or related services the

vendor shall clearly and conspicuously disclose to the enrolled

customer that the coverage is included with the purchase of the

portable electronics or related services. Vendors billing and

collecting these charges shall not be required to maintain the funds

in a segregated account provided that the vendor is authorized by

the insurer to hold the funds in an alternative manner and to remit

the amounts to the supervising entity within sixty (60) days of

receipt. All funds received by a vendor from an enrolled customer

for the sale of portable electronics insurance shall be considered

funds held in trust by the vendor in a fiduciary capacity for the

benefit of the insurer. Vendors may receive compensation for

billing and collection services.