reglab/statecodes huggingface dataset:
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › ADMINISTRATORS › Section 683A.105 - Application for certificate of registration

Current through June 11, 2024
1.  Each applicant for a certificate of registration as an
						administrator shall submit:
(a)  If the applicant is a newly formed
						business:
(1)  A financial statement pursuant to subsection 1 of NRS 683A.08522  that has been reviewed by an independent certified public
						accountant;
(2)  A financial statement pursuant to subsection 2 that has
						been audited by an independent certified public accountant; or
(3)  A pro forma balance sheet and a statement listing estimated
						income and expenses for the first year, compiled in a form which complies with
						generally accepted accounting principles.
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › ADMINISTRATORS › Section 683A.115 - Evaluation of applicant

Current through June 11, 2024
1. The Division
					will, to evaluate the competency and personal and business reputations of an
					applicant, review the applicant's past performance in handling, settling and
					adjudicating claims. The applicant must include with his or her application
					information in his or her business plan concerning:
(a) The names, experience and qualifications
					of the members of his or her staff;
(b) A description of the facilities for
					handling claims, including a description of any computer software used in the
					process; and
(c) The method used
					for handling inquiries from claimants.
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › ADMINISTRATORS › Section 683A.119 - Determination of whether administrator or applicant is financially unsound

Current through June 11, 2024
The Commissioner will consider the following to determine
						whether an administrator or an applicant for a certificate of registration as
						an administrator is financially unsound pursuant to NRS 683A.08524  or
						683A.0892:
1.  The administrator or applicant:
(a)  Submits a financial statement to the Commissioner, pursuant
						to NRS 683A.08522  or 683A.08528  or subsection 2 of NAC 683A.105,
						reporting:
(1)  The sum of its assets is less than the sum of its
						liabilities;
(2)  A recurring operating loss;
(3)  Negative cash flow from operations; or
(4)  A significant decrease in assets within a fiscal year or
						over a period of years;
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › ADMINISTRATORS › Section 683A.125 - Duty to notify Commissioner of certain changes and provide copies of certain agreements

Current through June 11, 2024
An administrator shall notify the Commissioner of any change in
						:
1.  Its members, owners, directors or officers within 30 days
						after the change. The administrator shall submit a notarized affidavit as
						described in subsection 6 of NRS 683A.08522  for each new member, owner,
						director or officer within 30 days after the change.
2.  The physical location, mailing address or electronic mail
						address of an office of the administrator within 30 days after the
						change.
Added to NAC by Comm'r
						of Insurance, eff. 1-22-86; A 11-21-88; 12-15-94; R152-99,
						1-28-2000;	A by
						R087-17AP,
						eff. 6/26/2018
NRS 679B.130
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › ADMINISTRATORS › Section 683A.131 - Annual report: Contents of financial statement

Current through June 11, 2024
The financial statement of an administrator submitted pursuant
						to
						NRS
						683A.08528 must include:
1. A balance sheet that reports the assets,
					liabilities and net worth of the administrator;
2. An income statement that reports the
					revenue and expenses of the administrator;
3. A statement of cash flow; and
4. Notes to the financial
					statement.
Added to NAC by Comm'r
						of Insurance by R171-03, eff. 12-16-2003
NRS
							679B.130,
							683A.08528
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › ADMINISTRATORS › Section 683A.133 - Annual report: Filing fee (Repealed)

Current through June 11, 2024
Added to NAC by Comm'r
						of Insurance by R171-03, eff. 12-16-2003;	R by
				R124-20A,
				eff. 4/14/2021
NRS 679B.130,
				680B.010, 683A.08528
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › ADMINISTRATORS › Section 683A.165 - Administrator of self-insurance reserve fund

Current through June 11, 2024
An administrator of a self-insurance reserve fund pursuant to
						paragraph (c) of subsection 1 of
						NRS
						287.010:
1. If it is a corporation, shall submit to
					the Division to establish that it is a resident of Nevada, evidence that it
					has:
(a) Its principal place of business in
					Nevada;
(b) Been qualified to do
					business in Nevada by the Secretary of State; or
(c) Articles of incorporation which authorize
					it to transact business in Nevada.
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › PRELICENSING EDUCATION › Section 683A.170 - Exemptions

Current through June 11, 2024
1. NAC 683A.170 to 683A.261, inclusive, do
					not apply to:
(a) A person applying for a
					nonresident license.
(b) A person
					exempted from the requirement of taking the licensing examination by
					NRS
					683A.291.
(c) A person who has been employed by an
					insurer for at least 10 years and has been actively involved in the
					underwriting of insurance or settling claims.
(d) A person with at least 10 years' current
					experience as a licensed insurance producer. For the purposes of this
					paragraph, "current" means active employment as a producer of insurance within
					the last 15 years.
(e) A person
					who:
(1) Pursuant to NAC 683A.325, is subject
					to the provisions of NAC 683A.318 to 683A.370, inclusive; and
(2) Successfully completes, within the 12
					months immediately preceding his or her application for a license, 30 hours of
					continuing education in courses approved by the Division pursuant to NAC
					683A.318 to 683A.370, inclusive.
(f) A person who has earned and continues to
					maintain a designation, for the line of authority of:
(1) Life insurance, as a:
(I) Certified employee benefit specialist
					(CEBS);
(II) Certified financial
					planner (CFP);
(III) Certified
					insurance counselor (CIC);
(IV)
					Chartered financial consultant (ChFC);
(V) Chartered life underwriter
					(CLU);
(VI) Fellow, life management
					institute (FLMI); and
(VII) Life
					underwriter training council fellow (LUTCF);
(2) Accident and health insurance, as a:
(I) Certified employee benefit specialist
					(CEBS);
(II) Health insurance
					associate (HIA);
(III) Registered
					employee benefits consultant (REBC); and
(IV) Registered health underwriter (RHU);
					and
(3) Casualty
					insurance, personal lines of insurance or property insurance, as:
(I) An accredited adviser in insurance
					(AAI);
(II) An associate in risk
					management (ARM);
(III) A certified
					insurance counselor (CIC); and
(IV)
					A chartered property casualty underwriter (CPCU).
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › PRELICENSING EDUCATION › Section 683A.180 - Course of instruction required; passing grade (Repealed)

Current through June 11, 2024
Added to NAC by Comm'r
						of Insurance, eff. 6-4-86; A by R152-99, 1-28-2000; R172-01,
						7-5-2002;	R by
				R184-22A,
				eff. 12/29/2022
NRS 679B.130
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › PRELICENSING EDUCATION › Section 683A.190 - Approval of course of instruction and instructor

Current through June 11, 2024
1. A course
					of instruction and the instructor for the course must be approved by the
					Division before the course is offered to a prospective applicant for a license.
					The sponsor of the course shall submit to the Division:
(a) An application for approval of the
					instructor, specifying his or her experience and qualifications;
(b) An application for approval of the
					course, including a detailed outline of the course and a description of the
					scale to be used in grading the persons taking the course;
(c) A schedule of the times the course is to
					be taught; and
(d) A certification
					that the content of the course complies with NAC 683A.170 to 683A.261,
					inclusive.
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › PRELICENSING EDUCATION › Section 683A.201 - Qualifications of instructor; limitation on instruction by unqualified instructor or mechanical aid

Current through June 11, 2024
1. An instructor
					must:
(a) Have at least 5 years of relevant
					experience in the line or lines of insurance which he or she plans to teach;
					or
(b) Be approved by the Nevada
					System of Higher Education to teach insurance within that System.
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › PRELICENSING EDUCATION › Section 683A.211 - Correspondence, extension or self-study course

Current through June 11, 2024
1. A
					correspondence, extension or self-study course may be approved by the Division
					if:
(a) The course satisfies all of the
					requirements of NAC 683A.170 to 683A.261, inclusive;
(b) The student has quick and easy access to
					the sponsor or instructor of the course; and
(c) The student must pass a final examination
					at the end of the course to receive credit and the examination is directly
					supervised by the sponsor, instructor or his or her representative.
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › PRELICENSING EDUCATION › Section 683A.221 - Subject matter of courses; hours of instruction

Current through June 11, 2024
A course must consist of at least 5 hours of instruction in the
						classroom, or the equivalent in a self-study course approved by the Division
						pursuant to NAC 683A.211, in the provisions of title 57 of NRS and the
						regulations adopted pursuant to those provisions, at least one-half of which
						must cover the laws and regulations common to all lines of insurance,
						and:
1. For a course in life
					insurance, at least 15 hours of instruction in the classroom or the equivalent
					in a self-study course approved pursuant to NAC 683A.211, covering:
(a) Principles and concepts of insurance in
					general;
(b) Basic principles and
					concepts of life insurance;
(c) The
					contract for life insurance and provisions of the policy;
(d) Classifications and types of life
					insurance;
(e) Annuities;
(f) The ethical responsibilities of the
					producer;
(g) The organization of
					the business of life insurance; and
(h) Regulation by the government.
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › PRELICENSING EDUCATION › Section 683A.225 - Course of instruction for bail bonds

Current through June 11, 2024
A person who requests approval of the course of instruction for
						bail bonds required by
						NRS
						697.150,
						697.170
						or
						697.184
						must comply with the provisions of NAC 683A.190, 683A.201, 683A.211 and
						683A.231 to 683A.261, inclusive.
Added to NAC by Comm'r
						of Insurance by R152-99, eff. 1-28-2000
NRS
							679B.130
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › PRELICENSING EDUCATION › Section 683A.231 - Records; submission of certain information quarterly; certificate of completion for student

Current through June 11, 2024
1. Each sponsor of
					a course shall maintain a complete record of each person attending the course.
					The record must:
(a) Indicate each person's
					attendance;
(b) Indicate his or her
					final grade in the course; and
(c)
					Be available for review by the Division upon request during normal business
					hours.
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › PRELICENSING EDUCATION › Section 683A.241 - Changes in sponsor, instructor or outline of course; suspension and revocation of approval of course

Current through June 11, 2024
1. If the sponsor,
					instructor or outline of a course changes after approval has been granted, the
					new sponsor, instructor or outline of the course must be approved by the
					Division.
2. A person designated by
					the Division may audit any approved course to ensure that the course,
					instructor or sponsor continues to meet the requirements of this
					regulation.
3. If the sponsor,
					instructor or outline of the course has changed and has not been reapproved, or
					if the sponsor or instructor is not following the approved outline of the
					course, the Division may suspend its approval of that course.
4. If the sponsor or instructor has not taken
					appropriate action to correct the conditions that were the basis of the
					suspension within 30 days, the Division may revoke its approval of the
					course.
5. If the sponsor or
					instructor of an approved course solicits from any person information on the
					content of the questions on the Division's licensing examination, the Division
					may revoke its approval of that instructor or sponsor for at least 1
					year.
Added to NAC by Comm'r
						of Insurance, eff. 6-4-86; A 5-27-92; R152-99,
						1-28-2000
NRS
							679B.130
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › PRELICENSING EDUCATION › Section 683A.251 - Submission or issuance of false or fraudulent documents; determination of sponsor or instructor as unsuitable person

Current through June 11, 2024
1. The
					Commissioner will refuse to license, or will suspend or revoke the license of
					any person who knowingly submits to the Division a false or fraudulent
					certificate of completion of education.
2. The Division shall revoke its approval of
					any sponsor or instructor who knowingly submits or issues a false or
					fraudulent:
(a) Certificate of
					completion;
(b) Outline or schedule
					for a course; or
(c) Application
					for approval as an instructor or sponsor.
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › PRELICENSING EDUCATION › Section 683A.261 - Forms

Current through June 11, 2024
Every application, certificate or other form required to be
						filed with the Division pursuant to NAC 683A.170 to 683A.261, inclusive, must
						be on a form furnished by the Division.
Added to NAC by Comm'r
						of Insurance, eff. 6-4-86; A 5-27-92
NRS
							679B.130
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › LICENSING OF PRODUCERS OF INSURANCE AND INSURANCE CONSULTANTS › Section 683A.270 - Required score on examination

Current through June 11, 2024
An applicant for a license as a producer of insurance or an
				insurance consultant who is required to complete an examination for licensure must
				attain a score of 70 or more on the appropriate licensing examination to pass the
				examination. The examination must have been successfully completed within 1 year
				immediately preceding the date of application for the license.
Added to NAC by Comm'r
						of Insurance, eff. 3-15-84; A by R172-01, 7-5-2002; R162-08,
						9-18-2008;	A by
				R184-22A,
				eff. 12/29/2022
NRS 679B.130, 692A.090,
				  692A.100
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › LICENSING OF PRODUCERS OF INSURANCE AND INSURANCE CONSULTANTS › Section 683A.272 - Search of records of criminal history

Current through June 11, 2024
1. An applicant for
							a license as a resident producer of insurance must:
(a) Submit with his or her application:
(1) Two complete sets of fingerprints which
							the Commissioner may forward to the Central Repository for Nevada Records of
							Criminal History for a search concerning him or her:
(I) Conducted by the Federal Bureau of
							Investigation in its national criminal records; and
(II) Of the Central Repository for Nevada
							Records of Criminal History; and
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › LICENSING OF PRODUCERS OF INSURANCE AND INSURANCE CONSULTANTS › Section 683A.275 - Short-term lessor of passenger vehicles: Licensure requirement; provision for training and supervision of employees; maintenance and availability of records

Current through June 11, 2024
1. A person
							licensed as a short-term lessor of passenger vehicles pursuant to
							NRS
							482.363 must be licensed as a limited
							producer pursuant to paragraph (k) of subsection 1 of
							NRS
							683A.261 before engaging in the sale or
							solicitation of policies of insurance requested by short-term lessees of
							passenger vehicles.
2. Each
							short-term lessor of passenger vehicles shall provide training for each
							employee who will solicit or sell policies of insurance to short-term lessees.
							The training must include instruction relating to:
(a) The policies of insurance that will be
							offered for sale to short-term lessees;
(b) Ethical practices concerning the sale of
							policies of insurance; and
(c) The
							sales materials and disclosures provided to short-term lessees.
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › REGISTRATION OF AGENTS WHO PERFORM UTILIZATION REVIEW › Section 683A.280 - Definitions

Current through June 11, 2024
As used in
							NAC 683A.280 to 683A.295, inclusive:
1. "Agent who performs utilization review"
							has the meaning ascribed to it in
							NRS
							683A.376.
2. "Insured" has the meaning ascribed to it
							in
							NRS
							683A.376.
3. "Insurer" includes:
(a) An authorized insurer;
(b) A fraternal benefit society that is
							certified pursuant to chapter 695A of NRS;
(c) A nonprofit corporation for hospital,
							medical or dental services that is certified pursuant to chapter 695B of
							NRS;
(d) A health maintenance
							organization that is certified pursuant to chapter 695C of NRS; and
(e) An organization for dental care that is
							certified pursuant to chapter 695D of NRS.
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › REGISTRATION OF AGENTS WHO PERFORM UTILIZATION REVIEW › Section 683A.285 - Registration of insurer; plan for utilization review; insurer to report changes; renewal of registration

Current through June 11, 2024
1. An insurer shall
							not perform utilization review for another person unless it registers with the
							Commissioner as an agent who performs utilization review and has a medical
							director who is a physician or, in the case of an agent who reviews dental
							services, a dentist, licensed in any state.
2. An insurer may apply for registration by
							filing with the Commissioner the following information on a form provided by
							the Commissioner:
(a) The insurer's name,
							address, telephone number and normal business hours;
(b) The name and telephone number of a person
							the Commissioner may contact for information concerning the insurer;
(c) The name of the medical director of the
							insurer and the state in which he or she is licensed to practice medicine or
							dentistry; and
(d) A summary of the
							insurer's plan for utilization review, including procedures for appealing
							determinations made through utilization review.
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › REGISTRATION OF AGENTS WHO PERFORM UTILIZATION REVIEW › Section 683A.290 - Employee of registered agent not required to pay certain fees for registration or renewal

Current through June 11, 2024
A person employed by a registered agent who
							performs utilization review is not required to pay the fees for registration or
							renewal set forth in
							NRS
							683A.378.
Added to NAC by Comm'r of
							Insurance, eff. 1-24-92; A by R103-09, 1-28-2010
NRS
							679B.130,
							683A.378
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › REGISTRATION OF AGENTS WHO PERFORM UTILIZATION REVIEW › Section 683A.295 - Fees for photocopies of plan for utilization review; written request for photocopies required

Current through June 11, 2024
1. The Commissioner
							will charge the following fees for photocopies of a plan for utilization review
							filed pursuant to
							NRS
							683A.378 or NAC 683A.285:
(a) If the photocopies are made by the
							Division, a fee of 50 cents per page, plus postage.
(b) If the photocopies are made at the
							Division's offices by the person requesting the copies, a fee of 7 cents per
							page.
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › MISCELLANEOUS PROVISIONS › Section 683A.310 - Payments of premium made after termination of producer's agreement

Current through June 11, 2024
Where the
							license and agency contract of the original writing producer are terminated,
							and a mutual agreement between the company and producer is made, the producer
							may collect and forward future installment premium payments to the company on a
							net basis.
Comm'r of Insurance, PC-13, eff.
							9-23-72-NAC A by R172-01, 7-5-2002
NRS
							679B.130
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › MISCELLANEOUS PROVISIONS › Section 683A.315 - Sale of annuities by banks: Required disclosures

Current through June 11, 2024
1.
							A bank licensed by the Commissioner to sell annuities shall disclose to its
							customers that the annuities sold by the bank:
(a) Are not insured by the Federal Deposit
							Insurance Corporation;
(b) Are not
							obligations of the bank;
(c) Are
							not guaranteed by the bank; and
(d)
							Involve investment risks, including the possible loss of principal.
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › MISCELLANEOUS PROVISIONS › Section 683A.317 - Renewal of appointment of producer of insurance: Verification of records; fee

Current through June 11, 2024
1. Pursuant to subsection 4 of
							NRS
							683A.321, an insurer shall annually renew
							each appointment of a producer of insurance who acts as his or her agent. An
							appointment as a producer expires on June 30 of each year beginning June 30,
							2002.
2. Before June 30, 2002, each
							insurer shall verify that the records of the insurer and those of the Division
							are the same. Verification can be made:
(a)
							Electronically through a vendor that provides information concerning
							appointments of producers of insurance; or
(b) By written request to the Division and
							payment of the appropriate fee.
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › CONTINUING EDUCATION › Section 683A.318 - Definitions

Current through June 11, 2024
As used in
							NAC 683A.318 to 683A.370, inclusive, unless the context otherwise requires, the
							words and terms defined in NAC 683A.320 and 683A.322 have the meanings ascribed
							to them in those sections.
Supplied in
							codification
NRS
							679B.130
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › CONTINUING EDUCATION › Section 683A.320 - "Course" defined

Current through June 11, 2024
"Course" includes, but is not limited to, a
							program of instruction, correspondence course, course of independent study,
							self-study course or seminar.
Added to NAC by Comm'r of
							Insurance, eff. 3-7-90; A 2-15-95; R152-99,
							1-28-2000
NRS
							679B.130
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › CONTINUING EDUCATION › Section 683A.322 - "Designated representative" defined

Current through June 11, 2024
"Designated representative" means a person with
							whom the Commissioner contracts pursuant to NAC 683A.327.
Added to NAC by Comm'r of
							Insurance by R170-03, eff. 2-12-2004
NRS
							679B.130
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › CONTINUING EDUCATION › Section 683A.325 - Applicability of provisions

Current through June 11, 2024
1. Except as
							otherwise provided in subsection 2, the provisions of NAC 683A.318 to 683A.370,
							inclusive, apply to a person who:
(a) Holds a
							license as a producer of insurance issued pursuant to chapter 683A of NRS or an
							insurance consultant issued pursuant to chapter 683C of NRS; and
(b) Engages in the business of
							insurance.
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › CONTINUING EDUCATION › Section 683A.327 - Designated representative: Authority of Commissioner

Current through June 11, 2024
The Commissioner may contract
							with a person outside the Division to perform all or part of the administrative
							duties of the continuing education program, subject to the direction and
							approval of the Commissioner.
Added to NAC by Comm'r of
							Insurance by R170-03, eff. 2-12-2004
NRS
							679B.130
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › CONTINUING EDUCATION › Section 683A.330 - Requirements for renewal of license

Current through June 11, 2024
1. Except as
							otherwise provided in this section, to renew a license as a producer of
							insurance or an insurance consultant, each licensee must certify that he or she
							has successfully completed 30 hours of approved continuing education within the
							3-year period before the date of renewal. Three of the 30 hours of continuing
							education must be in the subject of ethics. The hours of continuing education
							must be related to the line or lines of insurance for which the licensee holds
							such a license.
2. The Commissioner
							will exempt a licensee from the requirements for continuing education if the
							licensee certifies that he or she:
(a) Has
							earned and continues to maintain his or her designation as a chartered property
							casualty underwriter (CPCU), chartered life underwriter (CLU), certified
							insurance counselor (CIC), certified financial planner (CFP) or chartered
							financial consultant (ChFC); or
(b)
							Has 20 years of continuous experience and has earned his or her primary source
							of income in the business of insurance by selling, marketing, underwriting,
							adjusting, practicing law, managing or regulating, or engaging in any
							combination of these fields of insurance.
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › CONTINUING EDUCATION › Section 683A.335 - Requirements for approval of courses

Current through June 11, 2024
1. Any person who
							requests approval for a course for continuing education shall furnish to the
							Commissioner or to a designated representative thereof at least 60 days before
							the beginning of the course:
(a) An outline of
							the subject matter;
(b) The method
							of presentation;
(c) The
							qualifications of the instructor;
(d) The number of classroom hours or, if for
							a correspondence course, a self-study course or an on-line computer course, the
							equivalent of classroom hours, and a written procedure for conducting a
							supervised final examination;
(e)
							Any applicable fees established and required by the Commissioner; and
(f) Any other information required by the
							Commissioner or a designated representative.
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › CONTINUING EDUCATION › Section 683A.337 - Requirements for advertisement of courses

Current through June 11, 2024
1. A course of
							continuing education must not be advertised unless the Commissioner or his or
							her designated representative has approved the course in writing.
2. Any advertisement of an approved course of
							continuing education must contain:
(a) The
							title of the course;
(b) The name
							and address of the person approved to provide the course;
(c) The lines of insurance for which the
							course has been approved;
(d) The
							number of hours of credit for continuing education for which the course has
							been approved; and
(e) A brief
							summary or outline of the contents of the course.
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › CONTINUING EDUCATION › Section 683A.340 - Duties of providers of approved courses

Current through June 11, 2024
The provider of a course approved by the
							Commissioner or a designated representative thereof shall:
1. Give a certificate of completion to each
							person who successfully completes the course. The certificate must be on a form
							approved by the Commissioner.
2.
							Maintain records of attendance and examination scores for 4 years.
3. Make these records and scores available to
							the Division upon request.
4. Not
							employ an unsuitable person as an instructor for the course.
Added to NAC by Comm'r of
							Insurance, eff. 3-7-90; A by R152-99, 1-28-2000; R170-03,
							2-12-2004
NRS
							679B.130
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › CONTINUING EDUCATION › Section 683A.345 - Credit for completion of certain unapproved courses

Current through June 11, 2024
A licensee who is seeking
							approval for hours of continuing education after completing a course organized
							by and conducted with the supervision of a trade association of the insurance
							industry or a national association of agents and brokers that was not approved
							by the Commissioner or a designated representative thereof must:
1. Request approval of the hours from the
							Commissioner or a designated representative;
2. Submit the information required in
							subsection 1 of NAC 683A.335; and
3. Submit a document signed by the instructor
							or provider of the course which verifies the attendance of the licensee and his
							or her successful completion of each portion of the course for which credit is
							sought.
Added to NAC by Comm'r of
							Insurance, 3-7-90, eff. 7-1-90; A by R170-03,
							2-12-2004
NRS
							679B.130
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › CONTINUING EDUCATION › Section 683A.350 - Number of hours approved for certain courses; credit for licensee who attends or teaches course

Current through June 11, 2024
1. The following
							courses are approved for continuing education for the hours set forth below:
(a) Any of the parts of the life insurance
							curriculum of the Life Underwriter Training Council, 30 hours for each
							part.
(b) The health insurance
							curriculum of the Life Underwriter Training Council, 25 hours.
(c) Any part of the curriculum of the
							American College, Bryn Mawr, Pennsylvania, leading to the professional
							designation of Chartered Life Underwriter (CLU), 30 hours for each
							part.
(d) Any part of the
							curriculum of the American Institute for Property and Liability Underwriters
							leading to the professional designation of Chartered Property Casualty
							Underwriter (CPCU), 30 hours for each part.
(e) Any part of the curriculum of the Life
							Office Management Association, Atlanta, Georgia, leading to the professional
							designation of Fellow, Life Management Institute, 30 hours for each
							part.
(f) Any part of the
							curriculum of the Insurance Institute of America leading to the designation as
							an associate in a specialty such as underwriting, management, claims, loss
							control or auditing, 25 hours for each part.
(g) Any of the parts of the general insurance
							curriculum of the Insurance Institute of America, 25 hours for each
							part.
(h) Any part of the
							curriculum of the College for Financial Planning, Denver, Colorado, leading to
							the professional designation of Certified Financial Planner, 25 hours for each
							part.
(i) Any part of the
							educational program of the Health Insurance Association of America, 15 hours
							for each part.
(j) Any part of the
							educational program of the Society of Certified Insurance Counselors, 25 hours
							for each part.
(k) Any part of the
							curriculum of the National Association of Health Underwriters, 25 hours for
							each part.
(l) Any course relating
							to insurance taught by an accredited college or university, 10 hours for each
							unit of credit awarded by the college or university.
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › CONTINUING EDUCATION › Section 683A.355 - Limitations on receipt and use of credit

Current through June 11, 2024
A licensee:
1. May receive credit for continuing
							education only once during a renewal period for each course taken.
2. May not carry forward to the next renewal
							period any hours of continuing education that are accumulated during a renewal
							period in excess of the hours required pursuant to NAC 683A.330.
Added to NAC by Comm'r of
							Insurance, eff. 3-7-90
NRS
							679B.130
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › CONTINUING EDUCATION › Section 683A.360 - Verification of continuing education

Current through June 11, 2024
1. Each licensee
							shall furnish to the Division upon the renewal of his or her license or upon
							the request of the Division, the original certificate of completion issued by
							the provider for each course.
2.
							The licensee shall keep a copy of each certificate of completion for 4 years
							after the completion of the course.
3. Failure to provide verification of
							continuing education credits upon request by the Division is evidence that the
							licensee did not complete the required continuing education.
Added to NAC by Comm'r of
							Insurance, 3-7-90, eff. 7-1-90; A 5-27-92; R152-99,
							1-28-2000
NRS
							679B.130
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › CONTINUING EDUCATION › Section 683A.365 - Suspension or revocation of approval of course; auditing of course; reinstatement of approval

Current through June 11, 2024
1. The Commissioner
							or a designated representative thereof may suspend or revoke the approval of a
							course if he or she determines that:
(a) The
							content of the course has been changed without notice to the Commissioner or a
							designated representative and the change affects the number of hours of credit
							assigned to the course;
(b) A
							certificate of completion has been issued and hours credited to a person who
							has not completed the course;
(c) A
							certificate of completion has not been issued and hours have not been credited
							when requested to a person who has successfully completed the course;
(d) The quality of instruction is
							inadequate;
(e) The content of the
							course does not meet the objectives of subsection 3 of NAC 683A.335;
(f) The provider has not maintained the
							records required by subsection 2 of NAC 683A.340; or
(g) The provider has employed an unsuitable
							person as an instructor for the course.
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › CONTINUING EDUCATION › Section 683A.370 - Compliance with requirements; submission of false or fraudulent affidavit

Current through June 11, 2024
1. The Division will not:
(a) Renew the license of a licensee who fails
							to comply with the requirements of NAC 683A.318 to 683A.370, inclusive;
							or
(b) Issue any license to a
							licensee until he or she complies with the requirements of NAC 683A.318 to
							683A.370, inclusive.
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › FIDUCIARY ACCOUNTS › Section 683A.390 - "Licensee" defined

Current through June 11, 2024
As used in NAC 683A.390 to 683A.440, inclusive,
							"licensee" includes any person licensed by the Commissioner, including
							producers of insurance, surplus lines brokers, motor club agents, bail bondsmen
							and administrators.
Added to NAC by Comm'r of
							Insurance, eff. 12-3-84; A by R172-01, 7-5-2002
NRS
							679B.130
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › FIDUCIARY ACCOUNTS › Section 683A.400 - Authorized types of accounts

Current through June 11, 2024
The types of accounts which may be maintained
							by a person for the deposit of money received pursuant to
							NRS
							683A.400 are:
1. Checking accounts, whether or not they
							bear interest;
2. Time deposits;
							and
3. Savings accounts.
Added to NAC by Comm'r of
							Insurance, eff. 12-3-84
NRS
							679B.130,
							683A.400
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › FIDUCIARY ACCOUNTS › Section 683A.410 - Licensee to be named as trustee; signature cards

Current through June 11, 2024
The licensee must be named as trustee
							on accounts maintained pursuant to
							NRS
							683A.400. The signature card for the account
							must include language which has substantially the same effect as the
							following:
To: (Name of Bank)
The account referred to
							on this card and carried by the undersigned with you in the name of John Doe,
							Trustee, is an account maintained under the provisions of
							NRS
							683A.400. In the event of death of the
							undersigned, the executor or administrator of his or her estate will be the
							successor trustee.
(John Doe)
Comm'r of Insurance, M-2, eff.
							5-13-72-NAC A 12-3-84
NRS
							679B.130,
							683A.400
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › FIDUCIARY ACCOUNTS › Section 683A.420 - Formula for determining status of fiduciary account

Current through June 11, 2024
The Commissioner will use the
							following formula to determine the status of a fiduciary account:
1. From the total of the gross accounts
							receivable from insureds the Commissioner will deduct any uncollected
							commissions remaining in the accounts receivable then add the total of the
							deposits in all accounts identified as trust accounts. The Commissioner will
							use the average rate for commissions to determine the uncollected
							commissions.
2. The Commissioner
							will add the net accounts payable to producers of insurance to the sum of all
							accounts receivable which are more than 90 days old.
3. If the total in subsection 2 is greater
							than the total in subsection 1, the account has a deficit.
Added to NAC by Comm'r of
							Insurance, eff. 12-3-84; A by R172-01, 7-5-2002
NRS
							679B.130,
							683A.400
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › FIDUCIARY ACCOUNTS › Section 683A.430 - Curing of deficiency

Current through June 11, 2024
1. Any person
							having a deficit in his or her fiduciary account, as measured pursuant to NAC
							683A.420, must cure the deficiency within 5 days after receiving notice of the
							deficiency from the Commissioner by:
(a)
							Depositing an amount equal to the deficiency in the trust account;
							and
(b) Sending a written
							explanation for the deficiency to the Commissioner.
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › FIDUCIARY ACCOUNTS › Section 683A.440 - Failure to remit return premium

Current through June 11, 2024
The Commissioner will consider any person who
							fails to remit a return premium to the person to whom it is owed within 30 days
							after receiving the return premium:
1.
							To have violated the provisions of
							NRS
							683A.400; and
2. To be financially irresponsible pursuant
							to subsection 4 of
							NRS
							683A.451.
Added to NAC by Comm'r of
							Insurance, eff. 12-3-84; A by R172-01, 7-5-2002
NRS
							679B.130,
							683A.400,
							683A.451
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › MANAGING GENERAL AGENTS › Section 683A.450 - Definitions

Current through June 11, 2024
As used in
							NAC 683A.450 to
							683A.560, inclusive, unless the
							context otherwise requires:
1.
							"Actuary" means a person who is a member in good standing of the American
							Academy of Actuaries.
2. "Insurer"
							means a person who holds a certificate of authority in this State pursuant to
							NRS
							680A.060.
3. "Managing general agent" has the meaning
							ascribed to it in NRS 683A.060, as amended by
							section 24 of Assembly Bill No. 83, chapter 376, Statutes of Nevada 2017, at
							page 2336.
4. "Underwrite" means
							the authority to assume or reject risks on behalf of the insurer.
Added to NAC by Comm'r of
							Insurance, eff. 9-19-90; A by R172-01, 7-5-2002; A by
							R089-17AP,
							eff. 5/16/2018
NRS 679B.130
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › MANAGING GENERAL AGENTS › Section 683A.460 - Licensing and bonding; maintenance of policy for errors and omissions

Current through June 11, 2024
A managing
							general agent:
1. Shall not represent
							an insurer in this State unless he or she holds a license issued by this State
							as a producer of insurance.
2.
							Shall maintain a bond for $50,000 and may maintain a policy that covers any
							errors and omissions of the managing general agent.
Added to NAC by Comm'r of
							Insurance, eff. 9-19-90; A by R172-01, 7-5-2002
NRS
							679B.130
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › MANAGING GENERAL AGENTS › Section 683A.470 - Written contract with insurer

Current through June 11, 2024
1. A managing
							general agent shall not bind an insurer to a contract of insurance with a third
							person unless the managing general agent enters into a written contract with
							the insurer.
2. Such a contract
							must set forth:
(a) The rights and duties of
							the insurer and managing general agent and, if a duty is shared by them, the
							contract must specify the duty each party performs.
(b) The rights and duties set forth in NAC
							683A.470 to 683A.530, inclusive.
(c) Guidelines which the managing general
							agent agrees to follow when underwriting insurance, including:
(1) The maximum annual premium volume of
							insurance he or she may write;
(2)
							The rules he or she must follow to establish the rates for the insurance he or
							she may write;
(3) The types of
							insurance he or she may write;
(4)
							The maximum amount of liability per policy which he or she may commit the
							insurer to assume;
(5) The
							exclusions from coverage, including any special limits on the coverage he or
							she writes for the insurer;
(6) The
							territory in which he or she may write;
(7) The provisions for the cancellation of
							the insurance; and
(8) The maximum
							period for which each policy may be written.
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › MANAGING GENERAL AGENTS › Section 683A.480 - Accounts, books and records

Current through June 11, 2024
Each managing general agent shall:
1. Submit to the insurer an accounting of
							each transaction that the managing general agent enters into on behalf of the
							insurer. The records of each insurer of the managing general agent must be kept
							separate.
2. Hold in a fiduciary
							capacity and immediately deposit, in an account set up for the insurer in a
							bank which is a member of the Federal Reserve System, all money collected on
							behalf of each insurer.
3. Submit
							to the insurer all money due to the insurer not less than once each
							month.
4. Allow the insurer to
							examine and copy all books, records and accounts pertaining to the insurer in
							the control of the managing general agent.
5. Allow the Commissioner to examine and copy
							all books, records and bank accounts of the managing general agent.
6. Keep at his or her principal place of
							business in this State his or her books, records, documents, accounts and
							vouchers as required by the provisions of
							NRS
							693A.050 for domestic insurers.
Added to NAC by Comm'r of
							Insurance, eff. 9-19-90
NRS
							679B.130
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › MANAGING GENERAL AGENTS › Section 683A.490 - Retention of reserve; assignment of contract with insurer

Current through June 11, 2024
A managing general agent shall
							not:
1. Retain more than 3 months'
							reserve for:
(a) An amount estimated to be
							necessary to pay all of the unpaid claims of the insurer; and
(b) The allocated loss adjustment expenses,
							in the account set up for the insurer pursuant to the requirements of NAC
							683A.480.
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › MANAGING GENERAL AGENTS › Section 683A.500 - Authority of insurer to terminate contract with agent, suspend agent's authority, and cancel or refuse to renew policy

Current through June 11, 2024
An insurer may:
1. Terminate his or her contract with a
							managing general agent for cause by written notice to the agent.
2. If the insurer and the managing general
							agent enter into a dispute regarding the cause for the termination of the
							agent, suspend the authority of the agent to underwrite insurance for the
							insurer during the dispute.
3.
							Cancel or refuse to renew any policy of insurance subject to the provisions of
							NRS
							687B.310 to
							687B.410,
							inclusive.
Added to NAC by Comm'r of
							Insurance, eff. 9-19-90
NRS
							679B.130
Nevada Administrative Code › Chapter 683A - Persons Involved in Sale or Administration of Insurance › MANAGING GENERAL AGENTS › Section 683A.510 - Handling of claims which agent has authority to settle; suspension and termination of authority to settle claims

Current through June 11, 2024
If the contract required pursuant to NAC
							683A.470 allows the managing general agent to settle claims on behalf of the
							insurer:
1. The managing general agent
							shall:
(a) Report all claims to the insurer in
							a timely manner; and
(b) Send the
							insurer a copy of the claim file if the insurer so requests or as soon as the
							managing general agent knows that the claim:
(1) Has the potential to exceed an amount
							determined by the Commissioner or exceeds the limit set by the insurer,
							whichever is less;
(2) Involves a
							coverage dispute;
(3) May exceed
							the agent's authority to settle a claim;
(4) Is open for more than 6 months;
							or
(5) Is closed by payment of an
							amount set by the Commissioner or an amount set by the insurer, whichever is
							less.