defined. NRS 679A.115 “Premium” defined. NRS 679A.117 “Producer of insurance” defined. NRS 679A.118 “Provider of insurance” defined. NRS 679A.120 “State” defined. NRS 679A.130 “Transacting insurance” defined. NRS 679A.140 Purposes; construction. NRS 679A.150 Compliance required. NRS 679A.160 Application of Code to particular types of insurers. NRS 679A.165 Required manner of obtaining insurance. NRS 679A.170 Particular provisions prevail. NRS 679A.180 General penalty; penalty in addition to administrative discipline. NRS 679A.190 Disciplinary proceeding, fine and penalty authorized after expiration or voluntary surrender of license or certificate issued pursuant to Code. NRS 679A.200 Prohibiting fee to include provider of health care on panel of providers; penalty; award of costs and attorney’s fees. _________ NRS 679A.010 Short title. This title shall be known and may be cited as the Nevada Insurance Code. (Added to NRS by 1971, 1557) NRS 679A.020 Definitions. As used in this Code, unless the context otherwise requires, the words and terms defined in NRS 679A.030 to 679A.130, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 1971, 1557; A 1983, 1933; 1991, 1613; 1993, 1897; 2001, 2179) NRS 679A.030 “Authorized” and “unauthorized” insurer defined. 1. An “authorized” insurer is one authorized to transact insurance or reinsurance in this State under a subsisting certificate of authority issued by the Commissioner. 2. An “unauthorized” insurer is one not so authorized. (Added to NRS by 1971, 1557; A 1987, 641) NRS 679A.040 “Bona fide resident” defined. “Bona fide resident” means a person who actually resides in this state with domiciliary intent. (Added to NRS by 1971, 1558) NRS 679A.050 “Code” defined. “Code” means the Nevada Insurance Code. (Added to NRS by 1971, 1558) NRS 679A.060 “Commissioner” defined. “Commissioner” means the Commissioner of Insurance. (Added to NRS by 1971, 1558) NRS 679A.085 “Division” defined. “Division” means the Division of Insurance of the Department of Business and Industry. (Added to NRS by 1993, 1897) NRS 679A.090 “Domestic,” “foreign” and “alien” insurer defined. 1. A “domestic” insurer is one: (a) Formed under the laws of Nevada, unless it has converted into a foreign insurer; or (b) Which has converted into a domestic insurer. 2. A “foreign” insurer is one: (a) Formed under the laws of any jurisdiction other than this state, unless it has converted into a domestic insurer; or (b) Which has converted into a foreign insurer. 3. An “alien” insurer is one formed under the laws of any country other than the United States of America or any of its states. 4. Except where distinguished by context, “foreign” insurer includes also “alien” insurer. (Added to NRS by 1971, 1558; A 1983, 683) NRS 679A.095 “Hospice care” defined. “Hospice care” has the meaning ascribed to it in NRS 449.0115. (Added to NRS by 1983, 1933; A 1989, 1031) NRS 679A.100 “Insurer” defined. “Insurer” includes every person engaged as principal and as indemnitor, surety or contractor in the business of entering into contracts of insurance. (Added to NRS by 1971, 1558) NRS 679A.110 “Individual” defined. An “individual” is a natural person. (Added to NRS by 1971, 1559; A 1985, 537) NRS 679A.112 “Policy” defined. “Policy” means the written contract of or written agreement for or effecting insurance, by whatever name called, and includes all clauses, riders, endorsements and papers which are a part thereof. (Added to NRS by 1981, 1141) NRS 679A.115 “Premium” defined. “Premium” means the consideration for insurance, by whatever name called. The term includes any “assessment,” or any “membership,” “policy,” “survey,” “inspection,” “service” or similar fee or other charge assessed or collected by the insurer or his agent in consideration for an insurance contract or its procurement. (Added to NRS by 1981, 1141) NRS 679A.117 “Producer of insurance” defined. “Producer of insurance” means a person required to be licensed under the laws of this state to sell, solicit or negotiate insurance. (Added to NRS by 2001, 2179) NRS 679A.118 “Provider of insurance” defined. “Provider of insurance” includes an insurer, producer of insurance, managing general agent, third-party administrator, organization composed of or using preferred providers of health care, health maintenance organization, commercial bank, trust company, savings and loan association, credit union, thrift company, financial holding company, affiliate or subsidiary of an insurer or financial holding company, broker-dealer in securities, mortgage lender, and any other person engaged in the business of insurance. (Added to NRS by 2001, 2179) NRS 679A.120 “State” defined. When used in context signifying a jurisdiction other than the State of Nevada, “state” means any state, district, commonwealth, territory or possession of the United States of America. (Added to NRS by 1971, 1559; A 1983, 154) NRS 679A.130 “Transacting insurance” defined. In addition to other aspects of insurance operations to which provisions of this Code by their terms apply, “transact” with respect to a business of insurance includes any of the following, by mail or otherwise or whether or not for the purpose of profit: 1. Solicitation or inducement. 2. Negotiations. 3. Effectuation of a contract of insurance. 4. Transaction of matters subsequent to effectuation and arising out of such a contract. (Added to NRS by 1971, 1559) NRS 679A.140 Purposes; construction. 1. The purposes of this Code are to: (a) Protect policyholders and all having an interest under insurance policies; (b) Implement the public interest in the business of insurance; (c) Provide adequate standards of solidity of insurers, and of integrity and competence in conduct of their affairs in the home offices and in the field; (d) Improve and thereby preserve state regulation of insurance; (e) Insure that policyholders, claimants and insurers are treated fairly and equitably; (f) Encourage full cooperation of the office of Commissioner with other regulatory bodies, both of this and other states and of the Federal Government; (g) Insure that the State has an adequate and healthy insurance market characterized by competitive conditions and the exercise of initiative; (h) Prevent misleading, unfair and monopolistic practices in insurance operations; and (i) Continue to provide the State of Nevada with a comprehensive, modern and adequate body of law, in response to the McCarran Act (Public Law 15, 79th Congress, 15 U.S.C. §§ 1011 to 1015, inclusive), for the effective regulation and supervision of insurance business transacted within, or affecting interests of the people of this state. 2. The provisions of this Code shall be given reasonable and liberal construction for the fulfillment of these purposes. (Added to NRS by 1971, 1559) NRS 679A.150 Compliance required. No person shall transact a business of insurance in Nevada, or relative to a subject of insurance resident, located or to be performed in Nevada or elsewhere, without complying with the applicable provisions of this Code. (Added to NRS by 1971, 1560) NRS 679A.160 Application of Code to particular types of insurers. Except as otherwise provided by specific statute, no provision of this Code applies to: 1. Fraternal benefit societies, as identified in chapter 695A of NRS, except as stated in chapter 695A of NRS.

Vegas Law