Nevada § 683A.520 Failure of producer of insurance or surplus lines broker to remit premiums: Report to Commissioner; suspension of license

Nevada Statutes

§ 683A.520 — Failure of producer of insurance or surplus lines broker to remit premiums: Report to Commissioner; suspension of license

Nevada § 683A.520

Title 57INSURANCE

Ch. 683APersons

DISCIPLINARY ACTION

This text of Nevada § 683A.520 (Failure of producer of insurance or surplus lines broker to remit premiums: Report to Commissioner; suspension of license) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 683A.520 (2026).

Text

1.If within 30 days after the contractual due date of any premium received by a producer of insurance or a surplus lines broker, the producer of insurance or surplus lines broker fails to remit the premium to the insurer or agency to whom it is owing, the insurer or agency, as the case may be, shall promptly report the failure to the Commissioner in writing.

2.The Commissioner may suspend the licenses of the producer or surplus lines broker so failing to remit, until the remittance has been made or the insurer or agency has filed with the Commissioner a release of the indebtedness satisfactory to the Commissioner.

3.The applicable procedures provided for in NRS 683A.461 apply to suspensions of a license under this section.

4.If the Commissioner, by the admission of the producer or surp

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1. If within 30 days after the contractual due date of any premium received by a producer of insurance or a surplus lines broker, the producer of insurance or surplus lines broker fails to remit the premium to the insurer or agency to whom it is owing, the insurer or agency, as the case may be, shall promptly report the failure to the Commissioner in writing.
2. The Commissioner may suspend the licenses of the producer or surplus lines broker so failing to remit, until the remittance has been made or the insurer or agency has filed with the Commissioner a release of the indebtedness satisfactory to the Commissioner.
3. The applicable procedures provided for in NRS 683A.461 apply to suspensions of a license under this section.
4. If the Commissioner, by the admission of the producer or surplus lines broker, or by examination of the records of the producer or surplus lines broker, determines that the charged failure to remit is true, the Commissioner may suspend the license without hearing.