reglab/housing_qa huggingface dataset:
NV Rev Stat § 692A.113 (2021)
2021 Nevada Revised Statutes|Chapter 692A - Title Insurance|NRS 692A.113 - Notification of change of name or location of business; reissuance of license to escrow officer who transfers association; penalties.

  1. A title agent or title insurer shall notify the Division in writing within 10 days after any change in the name or the location of the business of the agent or insurer or any change of association by the holder of a license as an escrow officer. Upon the surrender of the existing license and payment of the required fee, the Division shall issue a new license to the agent or insurer for the unexpired term of the license.  2. An escrow officer who transfers his or her association must apply to the Division for the reissuance of his or her license. The Division shall reissue the license for the unexpired term upon application and payment of the required fee if:  (a) The transfer is into an association with a licensed title agent or title insurer; and  (b) The agent or insurer certifies that the escrow officer is employed or will be employed by the agent or insurer.  3. Failure to give notice as required by this section constitutes cause for the imposition of a fine not to exceed $500 against the licensee or the suspension or revocation of his or her license.  (Added to NRS by 1985, 1824; A 1991, 1633; 1993, 1921)
NV Rev Stat § 692A.117 (2021)
2021 Nevada Revised Statutes|Chapter 692A - Title Insurance|NRS 692A.117 - Confidential records.

  1. The Commissioner shall classify as confidential the financial statements of a title agent, escrow officer and title insurer and those records and information obtained by the Division which:  (a) Are obtained from a governmental agency upon the express condition that they remain confidential.  (b) Consist of information compiled by the Division in the investigation of possible violations of this chapter. This paragraph does not limit examination by the Legislative Auditor or any other person pursuant to a court order.  2. Except as otherwise provided in NRS 239.0115, the contents of the file for an escrow are confidential and, subject to the rights to discover the contents by subpoena or other lawful process, must not be disclosed without the express written consent of one party of the escrow other than the holder of the escrow.  (Added to NRS by 1985, 1825; A 1991, 1633; 1993, 1921; 2007, 2159)
NV Rev Stat § 692A.120 (2021)
2021 Nevada Revised Statutes|Chapter 692A - Title Insurance|NRS 692A.120 - Rate schedules, schedules of charges and forms: Filing; approval by Commissioner.

  1. Each title insurer shall file with the Commissioner all rate schedules, schedules of charges and all forms, including:  (a) Preliminary reports of title.  (b) Binders for insurance and commitments to insure.  (c) Letters of indemnity.  (d) Policies of insurance or guaranty.  (e) Terms and conditions of insurance coverage or guarantee which relate to title to any interest in property.  2. A title insurer need not file:  (a) Reinsurance contracts and agreements.  (b) Closing protection letters.  (c) Specific defects in title which may be ascertained from an examination of the risk and excepted in reports, binders, commitments or policies, or any affirmative assurances of the title insurer with respect to those defects, whether given by endorsement or otherwise.  (d) Specific exceptions from coverage by reason of limitations upon the examination of the risk imposed by the applicant for insurance or through failure of the applicant to provide data requisite to a judgment of insurability.  3. Unless the Commissioner disapproves a form or schedule within 30 days after it is filed in the Office of the Commissioner, the form or schedule is approved.  4. No form or schedule may be used until it is approved by the Commissioner.  5. No title insurer or title agent may make or impose any charge for premium, escrow, settlement or closing services when performed in connection with the issue of a title insurance policy except in accordance with the schedule of charges filed with the Commissioner as required by this section.  6. A title insurer or title agent shall not charge a fee for any statement or tax return regarding payments of interest which federal law requires the insurer or agent to furnish and file.  7. As used in this section, "closing protection letter" means a letter issued as described in NRS 692A.225.  (Added to NRS by 1977, 979; A 1989, 1067; 1993, 2335; 2013, 817)
NV Rev Stat § 692A.130 (2021)
2021 Nevada Revised Statutes|Chapter 692A - Title Insurance|NRS 692A.130 - Publication, contents and filing of schedule of fees and charges; rating organizations; joint underwriting and reinsurance.

  1. Every title insurer and every title agent shall print and make available to the public the schedule of fees and charges filed with the Commissioner.  2. The schedule:  (a) Shall show to the public the total premium, for each type of policy regularly issued by the insurer, either by a statement of the particular charge for each type of policy in given amounts of coverage or by a statement of the charge per unit of the amount of coverage, or a combination of the two.  (b) May include a statement that additional charges are made when unusual conditions of title are encountered or when special or unusual risks are insured against and that additional charges are made for special services rendered in connection with the issuance of a policy, the handling of an escrow or the performance of other service.  (c) May provide different fees or changes for policies covering property in different counties, and for other services rendered in different counties, or separate schedules may be adopted for policies covering property in different counties, and for other services rendered in different counties.  3. Every title insurer and title agent shall file with the Commissioner the schedule of fees and charges and every modification thereof which it proposes to use. The filing shall state the effective date thereof which shall be not less than 30 days after the date of the filing. The Commissioner may by order suspend or modify the requirement of filing as to a specific service, the charges for which cannot practically be determined before the service is performed.  4. A title insurer may be a member or subscriber and use the services of a title insurance rating organization, and engage in joint underwriting and joint reinsurance of title insurance risks, in the same manner, with the same effect, and subject to the same applicable terms and conditions as provided with respect to property and casualty insurance under chapter 686B of NRS (rates and rating organizations).  (Added to NRS by 1977, 979)
NV Rev Stat § 692A.140 (2021)
2021 Nevada Revised Statutes|Chapter 692A - Title Insurance|NRS 692A.140 - Schedule of fees and charges: Printing; display; copies; changes and amendments; retention; inspection.

  1. The schedules provided for in NRS 692A.130 shall:  (a) Be printed in type not smaller than 10-point;  (b) Be dated to show the date they became effective; and  (c) So long as they are effective, be kept at all times readily available to the public and prominently displayed in a public place in each of the offices of the title insurer or title agent in this state, and in each of the offices of any person authorized to issue the policy of title insurance of the insurer, or to perform the service of an insurer or title agent in the particular county to which they relate.  2. On request, copies of the schedules shall be furnished to the public.  3. All or any part of any schedule may be changed or amended at any time or from time to time. Each change or amendment shall be printed and dated to show the effective date of the change or amendment. No change or amendment shall become effective until at least 30 days after it has been filed with the Commissioner and been displayed in the offices mentioned in subsection 1 in the same manner as provided for the display of schedules, and no change or amendment increasing fees or charges applies to policies or services ordered prior to the effective date of the change or amendment.  4. Each title insurer and each title agent shall keep a complete file of its schedules and of all changes and amendments thereto until at least 5 years after they have ceased to be in effect, and the file shall be available for inspection by the Commissioner at any appropriate time.  (Added to NRS by 1977, 980)
NV Rev Stat § 692A.150 (2021)
2021 Nevada Revised Statutes|Chapter 692A - Title Insurance|NRS 692A.150 - Reserve against unpaid losses and loss expenses.

  1. Each domestic title insurer shall establish and at all times maintain a reserve against:  (a) Unpaid losses; and  (b) Loss expenses,  and shall calculate the reserves by making a careful estimate in each case of the loss and loss expense likely to be incurred by reason of each claim presented upon receiving notice from or on behalf of the insured of a title defect in or lien or adverse claim against the title of the insured which may result in a loss or cause expense to be incurred for the proper disposition of the claim.  2. Reserves required by this section may be revised from time to time and shall be redetermined at least once each year.  3. Amounts set aside in reserves in any year shall be deducted in determining the net profit of the year of the insurer.  (Added to NRS by 1977, 981)
NV Rev Stat § 692A.160 (2021)
2021 Nevada Revised Statutes|Chapter 692A - Title Insurance|NRS 692A.160 - Unearned premium reserve.

  1. Each domestic title insurer shall establish and maintain an unearned premium reserve composed of the unearned portions of premiums due or received, which shall be charged as a reserve liability of the insurer in determining its financial condition.  2. The unearned premium reserve shall be retained and held by the title insurer for the protection of holders of policies which have not expired. Except as provided in this section, assets equal in value to the unearned premium reserve are not subject to distribution among depositors or other creditors or stockholders of the insurer until all claims of policyholders or holders of other title insurance contracts have been paid in full, and all liability on the policies or other title insurance has been paid in full and discharged or lawfully reinsured.  3. Income from the unearned premium reserve need not be added to that reserve.  4. Each title insurer shall place in its unearned premium reserve:  (a) The amount held in unearned premium reserve on July 1, 1977; and  (b) A sum equal to 5 percent of title insurance premiums collected in each calendar year.  5. A title insurer shall release from the unearned premium reserve and restore to net profits a sum equal to 5 percent of the amount added to the reserve during a calendar year on July 1 of the year following the year in which the sum was added, and an additional 5 percent shall be released from the reserve on each succeeding July 1 until the entire amount for that year has been restored to net profits.  (Added to NRS by 1977, 981)
NV Rev Stat § 692A.170 (2021)
2021 Nevada Revised Statutes|Chapter 692A - Title Insurance|NRS 692A.170 - Foreign or alien title insurers to maintain same reserves required of domestic insurers.

Each foreign or alien title insurer licensed to transact title insurance business in this state shall maintain the same reserves as are required of domestic insurers, unless the laws of the jurisdiction of domicile of the insurer requires a higher amount.  (Added to NRS by 1977, 981)
NV Rev Stat § 692A.180 (2021)
2021 Nevada Revised Statutes|Chapter 692A - Title Insurance|NRS 692A.180 - Limitation on net retained liability for single risk; waiver of limitation by Commissioner.

  1. The net retained liability of any title insurer for a single risk, whether assumed directly or as reinsurance, may not exceed 50 percent of the sum of the capital, surplus, unearned premium reserve and voluntary reserves less the value assigned to its title plants, all as shown in the most recent report of the insurer which is on file in the Office of the Commissioner.  2. The Commissioner may waive the limitation of this section for a particular risk upon application of the insurer and for good cause shown.  (Added to NRS by 1977, 983)
NV Rev Stat § 692A.190 (2021)
2021 Nevada Revised Statutes|Chapter 692A - Title Insurance|NRS 692A.190 - When premiums and charges from personal and controlled insurance constitute unlawful rebates.

  1. If the premiums and charges received from any one source through personal or controlled insurance exceed 25 percent of the total premiums and charges received by a title insurer during a calendar year, or if the premiums and charges received from all personal and controlled insurance exceed 50 percent of the total premiums and charges received by the title insurer during the calendar year, the excess of those percentages is an unlawful rebate under NRS 686A.130.  2. "Personal or controlled insurance" means a policy of title insurance under which one of the following is an insured, or the loss is payable to one of the following:  (a) The title insurer who issued the policy or any of the following:  (1) Any person who owns or controls a majority of the voting stock or a controlling interest, directly or indirectly, in the title insurer;  (2) A corporation which is directly or indirectly controlled by a person who also controls the title insurer; or  (3) A corporation which makes consolidated returns for federal income tax purposes with a title insurer or with a corporation which is listed in subparagraph (1) or (2) of this paragraph.  (b) A title insurance agent who is a natural person, a spouse of the title insurance agent, any person related to the title insurance agent within the second degree by blood or marriage, and:  (1) If the employer of the title insurance agent is a natural person, the employer, the employer’s spouse and any person related to the employer within the second degree by blood or marriage;  (2) If the employer of the title insurance agent is a corporation, any person who owns or controls a majority of the voting stock or a controlling interest in the corporation, either directly or indirectly; or  (3) If the employer of the title insurance agent is a partnership or association, any person owning an interest in the partnership or association.  (c) A title insurance agent which is a corporation, and:  (1) Any person who owns or controls, directly or indirectly, a majority of the voting stock or controlling interest in the corporation;  (2) Any corporation which is directly or indirectly controlled by a person who also controls the title insurance agent; or  (3) Any corporation which makes consolidated returns for federal income tax purposes with any corporation described in subparagraph (1) or (2) of this paragraph.  3. Interest which is held by an entity in a fiduciary capacity for the true or beneficial owner of the property need not be included in determinations of which insurance is personal or controlled.  (Added to NRS by 1977, 983)
NV Rev Stat § 692A.200 (2021)
2021 Nevada Revised Statutes|Chapter 692A - Title Insurance|NRS 692A.200 - Division of rates and charges.

Nothing in this chapter prohibits the division of rates and charges between or among:  1. A title insurer and its agent;  2. Two or more title insurers;  3. One or more title insurers and one or more title agents; or  4. Two or more title agents,  if the division of rates and charges does not constitute an unlawful rebate under the laws of this State.  (Added to NRS by 1977, 984)
NV Rev Stat § 692A.210 (2021)
2021 Nevada Revised Statutes|Chapter 692A - Title Insurance|NRS 692A.210 - Waiver of right to purchase owner’s title insurance upon issuance of policy to mortgagee; form of notice and waiver.

  1. A title insurer or title agent who issues a policy of mortgagee’s title insurance upon a loan which is made simultaneously with the purchase of all or part of the real property which secures the loan, where no owner’s title insurance has been ordered shall, before the disbursement of loan proceeds or the issuance of the mortgagee’s title policy, inform the owner in writing that the title policy is to be issued, that the policy does not protect the owner, and that the owner may obtain title insurance for protection. If the owner elects not to purchase title insurance, the title insurer or title agent shall obtain from the owner a statement in writing that the notice has been received and that the owner waives the right to purchase title insurance. The statement, together with the waiver, if any, shall be retained by the title insurer or title agent for not less than 5 years after its receipt.  2. The form of the written notice and waiver shall be substantially as follows: NOTICE AND WAIVER  RE:..............................................................................................................................  (Address or Brief Property Description)  Notice is hereby given, as required in NRS 692A.210, that a mortgagee’s title insurance policy is to be issued to your mortgage lender. The policy does not afford title insurance protection to you in the event of a defect or claim of defect in title to the real estate which you are acquiring. An owner’s title insurance policy affording title insurance protection to you in the amount of your purchase price, or for the amount of your purchase price plus the cost of any improvements which you anticipate making, may be purchased by you. NRS 692A.210 requires that you sign the statement printed below if you do not wish to purchase an owner’s title insurance policy.  .......................................................................   Name of Insurer Issuing Policy  We have received the foregoing notice, and waive our right to purchase an owner’s title insurance policy for our protection.  .......................................................................   Mortgagors  (Added to NRS by 1977, 981)
NV Rev Stat § 692A.220 (2021)
2021 Nevada Revised Statutes|Chapter 692A - Title Insurance|NRS 692A.220 - Search and examination of title required; retention of records.

  1. No policy or contract of title insurance may be completed or executed until the title insurer has or has caused to be:  (a) Conducted a reasonable search and examination of the title; and  (b) Determined the insurability of the title in accordance with its established underwriting practices.  2. Each title insurer shall maintain records and evidence of its search and examination and of its determination of insurability for a period of not less than 5 years after the date of the policy or contract.  (Added to NRS by 1977, 982; A 1989, 585)
NV Rev Stat § 692A.225 (2021)
2021 Nevada Revised Statutes|Chapter 692A - Title Insurance|NRS 692A.225 - Closing protection letter: Title insurer may provide; indemnification against certain losses; fee; providing indemnification against certain losses by other means prohibited.

  1. A title insurer may provide a closing protection letter to any person or entity who is a party to a real estate transaction in which a policy of title insurance has been or will be issued by or on behalf of the insurer.  2. A closing protection letter provided by a title insurer pursuant to this section may indemnify a person or entity to whom the letter is provided, under the terms and conditions of the letter as provided by the title insurer, against a loss that is in connection with the transaction for which the letter was provided and which is due to any of the following acts or omissions by a closing or settlement service provider:  (a) Theft or misappropriation of any closing or settlement funds, to the extent that the theft or misappropriation affects the:  (1) Status of the title to the interest in land that is the subject of the transaction; or  (2) Validity, enforceability and priority of the lien of the mortgage on the interest in land that is the subject of the transaction.  (b) Failure to comply with any written closing or settlement instructions, to the extent that the failure affects the:  (1) Status of the title to the interest in land that is the subject of the transaction; or  (2) Validity, enforceability and priority of the lien of the mortgage on the interest in land that is the subject of the transaction.  3. A title insurer shall charge a fee of not less than $25 to each person or entity to which the insurer provides a closing protection letter pursuant to this section.  4. The fee charged pursuant to this section for a closing protection letter:  (a) Must not be included in any agreement requiring a division of fees or premiums collected by or on behalf of the title insurer who provided the letter; and  (b) Shall be deemed earned upon the closing of the transaction for which the letter was provided.  5. A title insurer may not provide or purport to provide indemnification to a person or entity against a loss in connection with acts or omissions by a closing or settlement service provider pursuant to subsection 2 by or through any other product or method than a closing protection letter provided pursuant to this section.  6. As used in this section, "closing or settlement service provider" means a person employed or approved by a title insurer to perform the closing or settlement of a real estate transaction in which a policy of title insurance has been issued by or on behalf of the insurer and may include, without limitation, a title agent or an escrow officer.  (Added to NRS by 2013, 816)