As used in this subchapter:
(1) “Customer” means a person who purchases portable electronics or services;
(2) “Enrolled customer” means a customer who elects to have coverage under a portable electronics insurance policy issued by a vendor;
(3) “Location” means, as directed to residents of the State of Arkansas: A physical location in this state;
(4) A website; or
(5) A call center site or similar location;
(6) “Portable electronics” means electronic devices that are portable in nature, including the accessories and services related to the use of the electronic device;
(7) “Portable electronics insurance” means insurance for the repair or replacement of portable electronics that includes the following causes of loss: Loss;
(8) Theft; and
(9) Inoperability due to mechanical failure, malfunction, damage, or other similar causes of loss.
(10) “Portable electronics insurance” does not include a service contract governed by the Service Contracts Act, § 4-114-101 et seq.;
(11) “Portable electronics transaction” means: The sale or lease to a customer of portable electronics by a vendor; or
(12) The sale of a service related to the use of portable electronics to a customer by a vendor;
(13) “Supervising entity” means a business entity that is an insurer or insurance producer licensed under the insurance laws of this state; and
(14) “Vendor” means a person that engages in the business of portable electronics transactions.