§ 688C.510 — Injunctive and other relief; administrative fine; restitution; civil action; rescission

Nevada § 688C.510

• Jurisdiction: Nevada
• Title 57: INSURANCE
• Ch. 688C: Viatical

Text

1. In addition to the penalties and other means of enforcement provided under this chapter:
(a) If a person violates a provision of this chapter or of a regulation adopted under this chapter, the Commissioner may seek an injunction and apply for temporary and permanent orders the Commissioner determines to be necessary to restrain the violator.
(b) A person who violates a provision of this chapter is subject to an administrative fine of not more than $1,000 for each violation.
(c) In addition to a criminal penalty imposed, the court shall order restitution to the person aggrieved by the violation.
2. A person aggrieved by a violation of this chapter may bring a civil action against the violator to recover the damages suffered.
3. A violation of this chapter attendant to the signing of an agreement to purchase a viatical settlement renders the agreement voidable and subject to rescission by the purchaser of viatical settlements, upon tender of the viaticated policy by the purchaser of viatical settlements to the provider of viatical settlements. Suit for rescission may be brought:
(a) In a court of competent jurisdiction;
(b) In the jurisdiction where the alleged violator resides;
(c) In the jurisdiction where the alleged violator has a principal place of business; or
(d) In the jurisdiction where the alleged violation occurred.

Legislative History

(Added to NRS by 2001, 2179 ; A 2009, 1806 )