Insurance Code section 1758.661

Charges for portable electronics insurance may be billed and collected by a portable electronics insurance agent licensee. A licensee shall not be required to maintain those funds in a segregated account if the insurer represented by the licensee has provided in writing that the funds need not be segregated from funds received by the portable electronics vendor on account of the sale or lease of portable electronics or related services or accessories. All funds received by a vendor from a 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. Licensees may receive compensation for billing and collection services.

Source: Section 1758.661, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=INS§ionNum=1758.661. (accessed May 12, 2025).

1758.6
1758.61
1758.62
1758.63
1758.64
1758.65
1758.66
1758.67
1758.68
1758.69
1758.661
1758.681
1758.691
1758.692
1758.693

Last Updated

May 12, 2025

§ 1758.661’s source at ca.gov

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Location: https://california.public.law/codes/insurance_code_section_1758.661

Original Source: Section 1758.661, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=INS§ionNum=1758.661. (last accessed May 12, 2025).