§ 686B.1793 — Penalties

Nevada § 686B.1793

• Jurisdiction: Nevada
• Title 57: INSURANCE
• Ch. 686B: Rates

Text

1. An insurer or other person who violates any provision of NRS 686B.1751 to 686B.1799 , inclusive, shall, upon the order of the Commissioner, pay an administrative fine not to exceed $1,000 for each violation and not to exceed $10,000 for each willful violation. These administrative fines are in addition to any other penalty provided by law. Any insurer using a rate before it has been filed with the Commissioner as required by NRS 686B.1775 , shall be deemed to have committed a separate violation for each day the insurer failed to file the rate.
2. The Commissioner may suspend or revoke the license of any advisory organization or insurer who fails to comply with an order within the time specified by the Commissioner or any extension of that time made by the Commissioner. Any suspension of a license is effective for the time stated by the Commissioner in his or her order or until the order is modified, rescinded or reversed.
3. The Commissioner, by written order, may impose a penalty or suspend a license pursuant to this section only after written notice to the insurer, organization or plan for apportioned risks and a hearing.

Legislative History

(Added to NRS by 1995, 2055 ; A 1999, 2223 ; 2017, 2348 )