reglab/statecodes huggingface dataset:
2023 Nevada Revised Statutes › Chapter 691E - Travel Insurance › NRS 691E.250 - Required written disclosures to prospective purchaser.

A travel retailer who offers and disseminates travel insurance shall make available to each prospective purchaser a brochure or other written material that has been approved by the insurer providing the travel insurance and which, at a minimum:
1. Provides the identity and contact information of the insurer and the producer of limited lines travel insurance;
2. Explains that the purchase of travel insurance is not required in order to purchase any other product or service of the travel retailer; and
3. Explains that a travel retailer who is not a licensed producer of insurance may provide only general information about the travel insurance offered by the travel retailer, including a description of the coverage and price, but is not qualified or authorized to answer technical questions about the terms and conditions of the travel insurance offered by the travel retailer or evaluate the adequacy of any existing insurance coverage that the prospective purchaser may have.
(Added to NRS by 2023, 3274)
2023 Nevada Revised Statutes › Chapter 691E - Travel Insurance › NRS 691E.260 - Prohibited acts.

A travel retailer, or any employee or authorized representative of the travel retailer, who is not a licensed producer of insurance shall not:
1. Evaluate or interpret technical terms, benefits and conditions of any travel insurance coverage offered by the travel retailer;
2. Evaluate, provide advice or render an opinion concerning any existing insurance coverage of a prospective purchaser; or
3. Hold himself or herself out as a licensed insurer, licensed producer of insurance or insurance expert.
(Added to NRS by 2023, 3275)
2023 Nevada Revised Statutes › Chapter 691E - Travel Insurance › NRS 691E.270 - Entitlement to compensation for authorized activities.

A travel retailer who is listed on the register maintained by a producer of limited lines travel insurance pursuant to NRS 691E.220 and who limits his or her activities and those of his or her employees or authorized representatives to offering and disseminating travel insurance on behalf of and under the direction of the producer of limited lines travel insurance in accordance with the provisions of this chapter is entitled to receive compensation relating to those activities.
(Added to NRS by 2023, 3275)
2023 Nevada Revised Statutes › Chapter 691E - Travel Insurance › NRS 691E.280 - Responsibilities and duties of producer of limited lines travel insurance with respect to travel retailer.

A producer of limited lines travel insurance is responsible for the acts of a travel retailer who offers and disseminates travel insurance under the license of the producer of limited lines travel insurance and shall use reasonable means to ensure compliance by the travel retailer with the provisions of this chapter and the regulations adopted pursuant thereto.
(Added to NRS by 2023, 3275)
2023 Nevada Revised Statutes › Chapter 691E - Travel Insurance › NRS 691E.290 - Travel protection plan: Conditions under which combined items may be offered for one price; provision of fulfillment materials; refund for cancellation.

1. A travel protection plan that provides any combination of travel insurance, travel assistance services or cancellation fee waivers may be offered in this State for one price for the combined items if:
(a) At or before the time of purchase:
(1) The travel protection plan clearly discloses to the purchaser or prospective purchaser that the plan includes travel insurance, travel assistance services and cancellation fee waivers, as applicable; and
(2) The purchaser or prospective purchaser is provided with information regarding the items included in the plan and an opportunity to obtain additional information regarding the items included in the plan and the pricing of each item; and
(b) The fulfillment materials concerning the travel protection plan:
(1) Describe and delineate the travel insurance, travel assistance services and any cancellation fee waivers in the travel protection plan, as applicable; and
(2) Include, as applicable, the disclosures required by paragraph (a) of subsection 2 of NRS 691E.230 and the contact information for any person providing travel assistance services or cancellation fee waivers.
2. As soon as practicable after the purchase of a travel protection plan, the fulfillment materials concerning the plan must be personally delivered to the purchaser of the travel protection plan or sent to the purchaser by mail or electronic transmission.
3. Unless the insured has started a covered trip or filed a claim under the travel insurance coverage, a policyholder or certificate holder who cancels a travel protection plan that includes travel insurance is entitled to a full refund of the price of the travel protection plan if the cancellation occurs not later than:
(a) If the fulfillment materials are sent by mail, 15 days after the date on which the fulfillment materials are sent.
(b) If the fulfillment materials are personally delivered or sent by electronic transmission, 10 days after the date on which the fulfillment materials are delivered or sent.
(Added to NRS by 2023, 3275)
2023 Nevada Revised Statutes › Chapter 691E - Travel Insurance › NRS 691E.300 - Documents provided to prospective purchaser required to be consistent with policy; required information concerning exclusion for preexisting conditions; required disclosures concerning whether coverage is primary or secondary to other coverage.

1. All documents provided to a prospective purchaser before the purchase of travel insurance, including, without limitation, any sales, advertising or marketing materials, must be consistent with the policy of travel insurance.
2. If a certificate or policy of travel insurance contains an exclusion for preexisting conditions, a prospective purchaser must be provided, before the time of purchase, information concerning the exclusion and an opportunity to learn more about the exclusion. If travel insurance is included in a travel protection plan, information concerning the exclusion must be included in the fulfillment materials concerning the plan.
3. An insurer providing travel insurance shall disclose in the policy of travel insurance documentation and, if the travel insurance is included in a travel protection plan, the fulfillment materials concerning the plan, whether the travel insurance is primary or secondary to other applicable insurance coverage.
4. As used in this section, "policy of travel insurance" includes, without limitation, any form, endorsement, policy, rate filing and certificate of insurance associated with a policy of travel insurance.
(Added to NRS by 2023, 3276)
2023 Nevada Revised Statutes › Chapter 691E - Travel Insurance › NRS 691E.310 - Use of negative option or opt out process prohibited.

A person shall not sell, solicit or negotiate travel insurance or a travel protection plan on an individual or group basis using a negative option or opt out process that requires a person who purchases a trip to take an affirmative action to refuse travel insurance coverage, including, without limitation, unchecking a box on an electronic form.
(Added to NRS by 2023, 3276)
2023 Nevada Revised Statutes › Chapter 691E - Travel Insurance › NRS 691E.320 - Provision of information concerning travel insurance offered through certain Internet websites; conditions authorized to be imposed on purchase of certain trip or travel packages when destination jurisdiction requires travel insurance coverage.

1. If travel insurance is marketed directly to a prospective purchaser by an insurer through the Internet website of the insurer or by a person through an aggregator site, the insurer or person may provide on the Internet website or aggregator site an accurate summary or short description of the travel insurance coverage, so long as the prospective purchaser has access to the full provisions of the policy of travel insurance by electronic means.
2. If a producer of limited lines travel insurance or travel retailer offers a trip or travel package to a prospective purchaser and the destination jurisdiction of the prospective purchaser requires travel insurance coverage, the producer of limited lines travel insurance or travel retailer may require the prospective purchaser, as a condition of purchasing the trip or travel package, to choose between:
(a) Purchasing the coverage required by the destination jurisdiction through the producer of limited lines travel insurance or travel retailer supplying the trip or travel package; or
(b) Agreeing to obtain and provide proof of coverage that meets the requirements of the destination jurisdiction before departure.
(Added to NRS by 2023, 3276)
2023 Nevada Revised Statutes › Chapter 691E - Travel Insurance › NRS 691E.330 - Applicability of certain provisions relating to trade practices to producers of limited lines travel insurance and travel retailers.

A producer of limited lines travel insurance and each travel retailer who offers or disseminates travel insurance under the license of a producer of limited lines travel insurance is subject to the provisions of NRS 683A.451 to 683A.520, inclusive, and chapter 686A of NRS.
(Added to NRS by 2023, 3275)
2023 Nevada Revised Statutes › Chapter 691E - Travel Insurance › NRS 691E.340 - Authorized forms of travel insurance; classification and filing of travel insurance; establishment and use of eligibility and underwriting standards.

1. Travel insurance may be provided in this State in the form of an individual policy of travel insurance, a policy of group travel insurance or a policy of blanket travel insurance.
2. Except as otherwise provided in this subsection, for the purposes of any filing required by chapter 686B of NRS or the regulations adopted pursuant thereto, travel insurance must be classified and filed under an inland marine line of insurance. Travel insurance that provides coverage, either exclusively or in conjunction with coverage for emergency evacuation or repatriation of remains, for sickness, accident, disability or death occurring during travel, may be classified and filed under an accident and health line of insurance or an inland marine line of insurance.
3. An insurer may establish and use eligibility and underwriting standards for travel insurance based on travel protection plans designed for individual or identified marketing or distribution channels so long as the standards meet any requirements imposed by this title or the regulations adopted pursuant thereto relating to eligibility and underwriting standards for inland marine insurance.
(Added to NRS by 2023, 3277)
2023 Nevada Revised Statutes › Chapter 692A - Title Insurance › NRS 692A.011 - Definitions.

As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 692A.015 to 692A.080, inclusive, have the meanings ascribed to them in those sections.
(Added to NRS by 1977, 977; A 1985, 1826; 1993, 2334)
2023 Nevada Revised Statutes › Chapter 692A - Title Insurance › NRS 692A.015 - "Abstract of title" defined.

"Abstract of title" means any written representation listing all recorded conveyances, instruments and documents which, under the laws of this State, impart constructive notice with respect to the chain of title of the real property described therein. The term does not include a binder, commitment to insure or preliminary report of title.
(Added to NRS by 1993, 2333)
2023 Nevada Revised Statutes › Chapter 692A - Title Insurance › NRS 692A.022 - "Business of title insurance" and "title insurance business" defined.

"Business of title insurance" or "title insurance business" includes:
1. The issuance of or proposal to issue any policy of title insurance as an insurer, guarantor or indemnitor;
2. The solicitation, negotiation or execution of a policy of title insurance, or the performance of any related services arising out of the execution of a policy of title insurance, excluding reinsurance;
3. The performance by a title insurer, a title agent or an escrow agency owned, in whole or in part, by a title insurer or title agent, of any service in conjunction with the issuance or contemplated issuance of a policy of title insurance, including, but not limited to, the handling of any escrow, settlement or closing in connection therewith, or doing or proposing to do any business which is in substance the equivalent of the services described in this subsection; and
4. The act of a title insurer whereby the title insurer provides a closing protection letter pursuant to NRS 692A.225.
(Added to NRS by 1993, 2333; A 2013, 817)
2023 Nevada Revised Statutes › Chapter 692A - Title Insurance › NRS 692A.023 - "Commitment to insure" and "preliminary report of title" defined.

"Commitment to insure" or "preliminary report of title" means a report furnished in connection with an application for title insurance which constitutes an offer to issue a policy of title insurance subject to the terms, conditions and exceptions stated in the report, but which does not constitute a representation as to the condition of the title to real property. The term does not include an abstract of title.
(Added to NRS by 1993, 2334)
2023 Nevada Revised Statutes › Chapter 692A - Title Insurance › NRS 692A.024 - "Escrow" defined.

"Escrow" means any transaction wherein one person, for the purpose of effecting the sale, transfer, encumbering or leasing of real or personal property to another person, delivers any written instrument, money, evidence of title to real or personal property, or other thing of value to a third person until the happening of a specified event or the performance of a prescribed condition, when it is then to be delivered by the third person to a grantee, grantor, promisee, promisor, obligee, obligor, bailee, bailor or any agent or employee of any of them. The term includes the collection of payments and the performance of related services by a third person in connection with a loan secured by a lien on real property.
(Added to NRS by 1985, 1822; A 1991, 1857)
2023 Nevada Revised Statutes › Chapter 692A - Title Insurance › NRS 692A.035 - "Policy of title insurance" and "title policy" defined.

"Policy of title insurance" or "title policy" means a written instrument or contract by which title insurance liability is assumed. The term does not include an abstract of title, binder, commitment to insure or preliminary report of title.
(Added to NRS by 1993, 2334)
2023 Nevada Revised Statutes › Chapter 692A - Title Insurance › NRS 692A.041 - "Premium" defined.

1. "Premium" means charges for:
(a) Assuming a risk;
(b) Abstracting, searching and examining title to determine insurability; and
(c) Any other activity associated with the assumption of risk.
2. "Premium" does not include charges for:
(a) Escrow;
(b) Settlement or closing; or
(c) Other special services not associated with the assumption of risk,
whether or not they are called premiums.
(Added to NRS by 1977, 977)
2023 Nevada Revised Statutes › Chapter 692A - Title Insurance › NRS 692A.050 - "Single risk" defined.

"Single risk" means the insured amount of any policy or contract of title insurance issued by a title insurer unless two or more policies or contracts are simultaneously issued on different estates in identical real property, in which event it means the sum of the insured amounts of all such policies or contracts. Any policy or contract which insures a mortgage interest that is excepted in a fee or leasehold policy or contract, and which does not exceed the insured amount of the fee or leasehold policy or contract, shall be excluded in computing the amount of a single insurance risk.
(Added to NRS by 1977, 978)
2023 Nevada Revised Statutes › Chapter 692A - Title Insurance › NRS 692A.060 - "Title agent" defined.

"Title agent" is a person, firm or corporation appointed by a title insurer to solicit applications for insurance or to negotiate for title insurance contracts on its behalf, and if authorized to do so by the insurer, to prepare and countersign title insurance policies and contracts.
(Added to NRS by 1977, 978)
2023 Nevada Revised Statutes › Chapter 692A - Title Insurance › NRS 692A.100 - Title agents, title insurers and escrow officers: Licensing required; maintenance and examination of records; separation of money held in escrow; regulations.

1. The Commissioner shall provide by regulation for the licensing of title agents, their branch offices, direct writing title insurers and escrow officers.
2. Each title agent shall maintain his or her books of account and record and his or her vouchers pertaining to title insurance business in a manner which permits the Commissioner or a representative of the Commissioner to ascertain readily whether the agent has complied with the provisions of this chapter.
3. A title agent or escrow officer may engage in the business of handling escrows, settlements and closings if the title agent or escrow officer maintains a separate record of all receipts and disbursements of money held in escrow and does not commingle that money with his or her own.
4. For the purpose of determining its financial condition, fulfillment of its contractual obligations and compliance with law, the Commissioner or a representative of the Commissioner or the Commissioner of Financial Institutions of the Department of Business and Industry or a representative of the Commissioner of Financial Institutions of the Department of Business and Industry when requested by the Commissioner of Insurance shall each year examine or cause to be examined the affairs, transactions, agreements, assets, records and accounts, including the escrow accounts, of a title agent, title insurer or escrow officer.
5. A title agent or insurer may engage a certified public accountant to perform such an examination in lieu of the Commissioner. In such a case, the examination must be equivalent to the type of examination made by the Commissioner and the expense must be borne by the title agent or insurer being examined.
6. The Commissioner shall determine whether an examination performed by an accountant pursuant to subsection 5 is equivalent to an examination conducted by the Commissioner. The Commissioner may examine any area of the operation of a title agent or insurer if the Commissioner determines that the examination of that area is not equivalent to an examination conducted by the Commissioner.
7. A person shall not become licensed to circumvent the provisions of this chapter or any other law of this state.
(Added to NRS by 1977, 978; A 1985, 1826; 1991, 1857; 1993, 1920, 2334; 1995, 696)
2023 Nevada Revised Statutes › Chapter 692A - Title Insurance › NRS 692A.1033 - Payment of child support: Statement by applicant for license as title agent or escrow officer; grounds for denial of license; duty of Commissioner. [Effective until the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occupational and recreational licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.]

1. An applicant for the issuance or renewal of a license as a title agent or escrow officer shall submit to the Commissioner the statement prescribed by the Division of Welfare and Supportive Services of the Department of Health and Human Services pursuant to NRS 425.520. The statement must be completed and signed by the applicant.
2. The Commissioner shall include the statement required pursuant to subsection 1 in:
(a) The application or any other forms that must be submitted for the issuance or renewal of the license; or
(b) A separate form prescribed by the Commissioner.
3. A license as a title agent or escrow officer may not be issued or renewed by the Commissioner if the applicant:
(a) Fails to submit the statement required pursuant to subsection 1; or
(b) Indicates on the statement submitted pursuant to subsection 1 that the applicant is subject to a court order for the support of a child and is not in compliance with the order or a plan approved by the district attorney or other public agency enforcing the order for the repayment of the amount owed pursuant to the order.
4. If an applicant indicates on the statement submitted pursuant to subsection 1 that the applicant is subject to a court order for the support of a child and is not in compliance with the order or a plan approved by the district attorney or other public agency enforcing the order for the repayment of the amount owed pursuant to the order, the Commissioner shall advise the applicant to contact the district attorney or other public agency enforcing the order to determine the actions that the applicant may take to satisfy the arrearage.
(Added to NRS by 1997, 2200)
2023 Nevada Revised Statutes › Chapter 692A - Title Insurance › NRS 692A.1035 - Suspension of license for failure to pay child support or comply with certain subpoenas or warrants; reinstatement of license. [Effective until the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occupational and recreational licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.]

1. If the Commissioner receives a copy of a court order issued pursuant to NRS 425.540 that provides for the suspension of all professional, occupational and recreational licenses, certificates and permits issued to a person who is the holder of a license as a title agent or escrow officer, the Commissioner shall deem the license issued to that person to be suspended at the end of the 30th day after the date on which the court order was issued unless the Commissioner receives a letter issued to the holder of the license by the district attorney or other public agency pursuant to NRS 425.550 stating that the holder of the license has complied with the subpoena or warrant or has satisfied the arrearage pursuant to NRS 425.560.
2. The Commissioner shall reinstate a license as a title agent or escrow officer that has been suspended by a district court pursuant to NRS 425.540 if the Commissioner receives a letter issued by the district attorney or other public agency pursuant to NRS 425.550 to the person whose license was suspended stating that the person whose license was suspended has complied with the subpoena or warrant or has satisfied the arrearage pursuant to NRS 425.560.
(Added to NRS by 1997, 2201)
2023 Nevada Revised Statutes › Chapter 692A - Title Insurance › NRS 692A.1037 - Application for issuance of license as title agent or escrow officer must include social security number. [Effective until the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occupational and recreational licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.]

An application for the issuance of a license as a title agent or escrow officer must include the social security number of the applicant.
(Added to NRS by 1997, 2201)
2023 Nevada Revised Statutes › Chapter 692A - Title Insurance › NRS 692A.1039 - License: Required; application; fee; issuance; period of validity; renewal; suspension or revocation; exception.

1. No person may engage in business as a title plant company unless the person has been granted a license to do so by the Commissioner.
2. An applicant for a license to conduct business as a title plant company shall submit as part of his or her application:
(a) A copy of the proposed articles of incorporation or association and bylaws, or the partnership agreement, which will govern the operation of the business.
(b) A list of the owners or participants and the nature and degree of their interest.
(c) A list of the persons who will operate the business, and their addresses and qualifications, including experience.
(d) The conditions under which ownership or participation in the business may be sold or acquired.
(e) A statement of whether or not title information will be compiled for persons other than owners or participants in the business.
(f) A pro forma balance sheet and other financial information to indicate the sufficiency of financing of the business.
(g) Other information which the Commissioner requires.
(h) The fee specified in NRS 680B.010.
3. If the Commissioner finds that:
(a) The business of the applicant will be sufficiently financed;
(b) The persons who will be operating the business are qualified;
(c) The rules of operation expressed in the articles of incorporation or association and the bylaws, or in the partnership agreement, will promote the efficiency of the operation of the owners or participants; and
(d) The operation of the business will not unduly restrict competition,
the Commissioner may issue a license to the applicant and permit organization of the business.
4. A license issued under this section is valid for a period of 1 year, and may be renewed by the submission of any information which the Commissioner requires and the fee specified in NRS 680B.010.
5. A license issued under this section may be suspended or revoked by the Commissioner if:
(a) The licensee ceases to operate in a manner set forth in its approved application.
(b) In the opinion of the Commissioner, the operation of the business has become a restraint on competition or is not in the best interests of the public.
(c) The licensee has not informed the Commissioner promptly of each change in conditions set forth in its application.
6. The Commissioner shall give written notice to any licensee whose license the Commissioner intends to suspend or revoke, and the licensee shall be granted a hearing if the licensee requests it in writing within 15 days after the receipt of the notice from the Commissioner. A decision of the Commissioner after hearing is final administrative action.
7. This section does not apply to any person licensed under the provisions of this chapter engaged in the business of a title plant company when the operation is not in concert with others.
(Added to NRS by 1977, 982; A 2021, 2982)—(Substituted in revision for NRS 692A.230)
2023 Nevada Revised Statutes › Chapter 692A - Title Insurance › NRS 692A.1041 - Title agent and insurer required to deposit surety bond or substitute form of security with Commissioner; requirements for bond or other security.

1. In addition to all other requirements set forth in this title and except as otherwise provided in subsections 2, 3 and 4 and NRS 692A.1042, as a condition to doing business in this State, each title agent and title insurer shall deposit with the Commissioner and keep in full force and effect a corporate surety bond which complies with NRS 679B.175 and is in an amount as determined by the Commissioner. The bond must name as principals the title agency or title insurer and all escrow officers employed by or associated with the title agent or title insurer.
2. Each title agent and title insurer may, in lieu of a corporate surety bond that complies with the provisions of subsection 1, deposit a substitute form of security that complies with the provisions of NRS 692A.1042 in an amount as determined by the Commissioner. The Commissioner shall determine the appropriate amount of the substitute form of security that must be deposited initially by the title agent or title insurer based upon the expected average collected balance of the trust account or escrow account maintained by the title agent or title insurer pursuant to NRS 692A.250. After the initial deposit, the Commissioner shall, on an annual basis, determine the appropriate amount of the substitute form of security that must be deposited by the title agent or title insurer based upon the average collected balance of the trust account or escrow account maintained by the title agent or title insurer pursuant to NRS 692A.250.
3. A title agent or title insurer may offset or reduce the amount of the substitute form of security that the title agent or title insurer is required to deposit pursuant to subsection 2 by the amount of any of the following:
(a) Cash or securities deposited with the Commissioner in this State pursuant to NRS 680A.140 or 682B.015.
(b) Reserves against unpaid losses and loss expenses maintained pursuant to NRS 692A.150 or 692A.170.
(c) Unearned premium reserves maintained pursuant to NRS 692A.160 or 692A.170.
(d) Fidelity bonds maintained by the title agent or title insurer.
(e) Other bonds or policies of insurance maintained by the title agent or title insurer covering liability for economic losses to customers caused by the title agent or title insurer.
4. A natural person licensed as a title agent is not obligated to deposit a corporate surety bond or substitute security, as defined in NRS 692A.1042, if that natural person is employed by a title insurer, or by a firm or corporation licensed as a title agent.
(Added to NRS by 1999, 3811; A 2011, 3387; 2021, 2980)
2023 Nevada Revised Statutes › Chapter 692A - Title Insurance › NRS 692A.1042 - Additional requirements regarding substitute form of security; interest or dividends accrue to depositor.

1. As a substitute for the surety bond required by NRS 692A.1041, a title agent or title insurer may, in accordance with the provisions of this section, deposit with any bank or trust company authorized to do business in this state, in a form approved by the Commissioner:
(a) An obligation of a bank, savings and loan association, savings bank, thrift company or credit union licensed to do business in this state;
(b) Bills, bonds, notes, debentures or other obligations of the United States or any agency or instrumentality thereof, or guaranteed by the United States; or
(c) Any obligation of this state or any city, county, town, township, school district or other instrumentality of this state, or guaranteed by this state.
2. The obligations of a bank, savings and loan association, savings bank, thrift company or credit union must be held to secure the same obligation as would the surety bond. With the approval of the Commissioner, the depositor may substitute other suitable obligations for those deposited which must be assigned to the State of Nevada and are negotiable only upon approval by the Commissioner.
3. Any interest or dividends earned on the deposit accrue to the account of the depositor.
4. The deposit must be in an amount at least equal to the required surety bond and must state that the amount may not be withdrawn except by direct and sole order of the Commissioner. The value of any item deposited pursuant to this section must be based upon principal amount or market value, whichever is lower.
(Added to NRS by 1999, 3813)
2023 Nevada Revised Statutes › Chapter 692A - Title Insurance › NRS 692A.1044 - Action on bond: Procedure; limitation on time; duties of Commissioner; preliminary payment by surety; action for interpleader; payment.

1. Any person claiming against a bond may bring an action in a court of competent jurisdiction on the bond for damages to the extent covered by the bond. A person who brings an action on a bond shall notify the Commissioner in writing upon filing the action. An action may not be commenced after the expiration of 3 years following the commission of the act on which the action is based.
2. Upon receiving a request from a person for whose benefit a bond is required, the Commissioner shall notify the person:
(a) That a bond is in effect and the amount of the bond; and
(b) If there is an action against the bond, the title, court and case number of the action and the amount sought by the plaintiff.
3. If a surety wishes to make payment without awaiting action by a court, the amount of the bond must be reduced to the extent of any payment made by the surety in good faith under the bond. Any payment must be based on written claims received by the surety before any action is taken by a court.
4. The surety may bring an action for interpleader against all claimants upon the bond. If it does so, it shall publish notice of the action at least once each week for 2 weeks in every issue of a newspaper of general circulation in the county where the title agent or title insurer has its principal place of business. The surety may deduct its costs of the action, including attorney’s fees and publication, from its liability under the bond.
5. Claims against a bond have equal priority, and if the bond is insufficient to pay all claims in full, they must be paid on a pro rata basis. Partial payment of claims is not full payment, and any claimant may bring an action against the title agent or title insurer for the unpaid balance.
(Added to NRS by 1999, 3813)
2023 Nevada Revised Statutes › Chapter 692A - Title Insurance › NRS 692A.1045 - Title insurers and title agents: Fees for supervision and examination by Commissioner; standards for determining adequate supervision of title agents and escrow officers; regulations.

1. The Commissioner shall establish by regulation the fees to be paid by title agents and title insurers for their supervision and examination by the Commissioner or a representative of the Commissioner.
2. In establishing the fees pursuant to subsection 1, the Commissioner shall consider:
(a) The complexity of the various examinations to which the fees apply;
(b) The skill required to conduct such examinations;
(c) The expenses associated with conducting such examinations and preparing reports; and
(d) Any other factors the Commissioner deems relevant.
3. The Commissioner shall, with the approval of the Commissioner of Financial Institutions, adopt regulations prescribing the standards for determining whether a title insurer or title agent has maintained adequate supervision of a title agent or escrow officer pursuant to the provisions of this chapter.
(Added to NRS by 1991, 1855; A 1993, 580; 2001, 2228)
2023 Nevada Revised Statutes › Chapter 692A - Title Insurance › NRS 692A.107 - Disciplinary action against title insurer or refusal to license.

1. In addition to the grounds provided in NRS 680A.200 for insurers generally, the Commissioner may refuse to license any title insurer or may suspend any license or impose a fine of not more than $500 for each violation by entering an order to that effect, with findings in respect thereto, if upon a hearing, it is determined that the applicant or licensee:
(a) Has committed fraud in connection with any transaction governed by this chapter;
(b) Has failed without reasonable cause to furnish to the parties of an escrow their respective statements of the settlement within a reasonable time after the close of escrow;
(c) Has failed without reasonable cause to deliver, within a reasonable time after the close of escrow, to the respective parties of an escrow transaction any money, documents or other properties held in escrow in violation of the provisions of the escrow instructions;
(d) Has commingled the money of others with his or her own or converted the money of others to his or her own use;
(e) Has failed, before the close of escrow, to obtain written instructions concerning any essential or material fact or intentionally failed to follow the written instructions which have been agreed upon by the parties and accepted by the holder of the escrow;
(f) Has failed to disclose in writing that the applicant or licensee is acting in the dual capacity of escrow agent or agency and undisclosed principal in any escrow transaction; or
(g) Has failed to maintain adequate supervision of an escrow officer or title agent whom the applicant or licensee has certified pursuant to subsection 3 of NRS 692A.110.
2. The Commissioner may refuse to issue a license to any person who, within 10 years before the date of applying for a current license, has had suspended or revoked a license issued pursuant to this chapter or a comparable license issued by any other state, district or territory of the United States or any foreign country.
(Added to NRS by 1985, 1824; A 1991, 1859)
2023 Nevada Revised Statutes › Chapter 692A - Title Insurance › NRS 692A.108 - Powers of Commissioner when assets or capital of title agent impaired or title agent’s affairs are in unsafe condition.

1. If the Commissioner ascertains that the assets or capital of any title agent are impaired or that a title agent’s affairs are in an unsafe condition, the Commissioner may immediately take possession of all the property, business and assets of the title agent which are located in this state and retain possession of them pending further proceedings provided for in this chapter.
2. If the board of directors or any officer or person in charge of the offices of such a title agent refuses to permit the Commissioner to take possession of the property, the Commissioner shall communicate that fact to the Attorney General. Thereupon the Attorney General shall immediately institute such proceedings as may be necessary to place the Commissioner in immediate possession of the property of the title agent. The Commissioner thereupon shall make or cause to be made an inventory of the assets and known liabilities of the title agent.
3. The Commissioner shall file one copy of the inventory in his or her office and one copy in the office of the clerk of the district court of the county in which the principal office of the title agent is located and shall mail one copy to each stockholder, partner, officer or associate of the agent at his or her last known address.
4. The clerk of the court with which the copy of the inventory is filed shall file it as any other case or proceeding pending in the court and shall give it a docket number.
(Added to NRS by 1991, 1856)
2023 Nevada Revised Statutes › Chapter 692A - Title Insurance › NRS 692A.109 - Period to remedy deficit or unsafe condition; receivership.

1. The officers, directors, partners, associates or stockholders of the title agent may, within 60 days after the date the Commissioner takes possession of the property, business and assets, make good any deficit which may exist or remedy the unsafe condition of its affairs.
2. At the expiration of such time, if the deficiency in assets or capital has not been made good or the unsafe condition remedied, the Commissioner may apply to the court to be appointed receiver and proceed to liquidate the assets of the title agent which are located in this state in the same manner as now provided by law for liquidation of a private corporation in receivership.
3. No other person may be appointed receiver by any court without first giving the Commissioner reasonable notice of his or her application.
4. The inventory made by the Commissioner and all claims filed by creditors are open at all reasonable times for inspection and any action taken by the receiver upon any of the claims is subject to the approval of the court before which the cause is pending.
5. The expenses of the receiver and compensation of counsel, as well as all expenditures required in the liquidation proceedings, must be fixed by the Commissioner subject to the approval of the court, and, upon certification of the Commissioner, must be paid out of the money that he or she possesses as receiver.
(Added to NRS by 1991, 1856)
2023 Nevada Revised Statutes › Chapter 692A - Title Insurance › NRS 692A.110 - Title insurers: Authorized activities; prohibited activity; certification and supervision of title agents and escrow officers.

1. Each title insurer may:
(a) Engage in title insurance business if licensed to do so by the Commissioner.
(b) Take action incidental to the making of a contract or policy of title insurance, directly or through a title agent or escrow officer employed by the title insurer, including the conducting or holding of money in escrow, making settlements and closing transactions.
(c) Provide any other service related or incidental to the sale and transfer of property if it has filed notice with the Commissioner of its intention to provide the service, and the Commissioner has not disapproved the service within 30 days after the Commissioner’s receipt of the notice.
(d) Invest in title plants.
2. No title insurer may engage in the business of guaranteeing the obligations of other persons.
3. Each title insurer shall, no later than February 1 of each calendar year, certify to the Commissioner the title agents and escrow officers it employs or appoints, including title agents and escrow officers employed by a title agent whom it has appointed. Each title insurer is responsible for and shall supervise the acts of each person that is required to be certified pursuant to this section.
(Added to NRS by 1977, 979; A 1985, 1826; 1991, 1859)
2023 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)
2023 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)
2023 Nevada Revised Statutes › Chapter 692A - Title Insurance › NRS 692A.120 - Rate schedules, schedules of charges and forms: Filing; approval by Commissioner; exceptions; prohibited acts.

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)
2023 Nevada Revised Statutes › Chapter 692A - Title Insurance › NRS 692A.130 - Publication, contents and filing of schedule of fees and charges; using services of rating organizations; engaging in 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)