Ohio requires any vendor who sells or leases portable electronic devices such as cell phones or electronic tablets, on or before March 22, 2012, to obtain a Limited Line Portable Electronics Business Entity License from the Ohio Department of Insurance before selling or offering portable electronics insurance coverage to customers in Ohio.
The licensing structure will allow for the licensed entity (such as large retailers) to maintain the license. Individual sales staff will not be required to obtain individual licenses.
Vendors must apply for a Limited Line Portable Electronic Business Entity license no later than June 30, 2012.
For more information regarding this new license authority, please visit the Department’s website at www.insurance.ohio.gov.
The insurance licensing information provided on this blog is not legal advice and the reader is advised to consult an attorney regarding application of this information in any particular situation.
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