ns. (f) Extending credit for the payment of any premium, and for which credit a reasonable rate of interest is charged and collected. 2. Nothing in NRS 686A.010 to 686A.310, inclusive, shall be construed as including within the definition of securities as inducements to purchase insurance the selling or offering for sale, contemporaneously with life insurance, of mutual fund shares or face amount certificates of regulated investment companies under offerings registered with the Securities and Exchange Commission where such shares or such face amount certificates or such insurance may be purchased independently of and not contingent upon purchase of the other, at the same price and upon similar terms and conditions as where purchased independently. (Added to NRS by 1971, 1690) NRS 686A.130 Property, casualty, surety and title insurance: Unfair discrimination and rebates prohibited. 1. No property, casualty, surety or title insurer or underwritten title company or any employee or representative thereof, and no broker, agent or solicitor may pay, allow or give, or offer to pay, allow or give, directly or indirectly, as an inducement to insurance, or after insurance has been effected, any rebate, discount, abatement, credit or reduction of the premium named in a policy of insurance, or any special favor or advantage in the dividends or other benefits to accrue thereon, or any valuable consideration or inducement whatever, not specified or provided for in the policy, except to the extent provided for in an applicable filing with the Commissioner. 2. No title insurer or underwritten title company may: (a) Pay, directly or indirectly, to the insured or any person acting as agent, representative, attorney or employee of the owner, lessee, mortgagee, existing or prospective, of the real property or interest therein which is the subject matter of title insurance or as to which a service is to be performed, any commission, rebate or part of its fee or charges or other consideration as inducement or compensation for the placing of any order for a title insurance policy or for performance of any escrow or other service by the insurer or underwritten title company with respect thereto; or (b) Issue any policy or perform any service in connection with which it or any agent or other person has paid or contemplates paying any commission, rebate or inducement in violation of this section. 3. No insured named in a policy or any employee of that insured may knowingly receive or accept, directly or indirectly, any such rebate, discount, abatement, credit or reduction of premium, or any such special favor or advantage or valuable consideration or inducement. 4. No such insurer may make or permit any unfair discrimination between insured or property having like insuring or risk characteristics, in the premium or rates charged for insurance, or in the dividends or other benefits payable thereon, or in any other of the terms and conditions of insurance. 5. No casualty insurer may make or permit any unfair discrimination between persons legally qualified to provide a particular service, in the amount of the fee or charge for that service payable as a benefit under any policy or contract of casualty insurance. 6. The provisions of this section do not prohibit: (a) The payment of commissions or other compensation to licensed agents, brokers or solicitors. (b) The extension of credit to an insured for the payment of any premium and for which credit a reasonable rate of interest is charged and collected. (c) Any insurer from allowing or returning to its participating policyholders, members or subscribers, dividends, savings or unabsorbed premium deposits. (d) With respect to title insurance, bulk rates or special rates for customers of prescribed classes if the bulk or special rates are provided for in the effective schedule of fees and charges of the title insurer or underwritten title company. 7. The provisions of this section do not apply to wet marine and transportation insurance. (Added to NRS by 1971, 1691; A 1983, 326; 1999, 2799) NRS 686A.140 Violations concerning rebates and inducements: Penalties; effect. 1. Any person violating the provisions of NRS 686A.110 or 686A.130 is guilty of a misdemeanor. 2. No agent or broker violating any of such provisions shall be entitled to receive any commission for the sale of any policy on which any rebate or inducement prohibited by NRS 686A.110 or 686A.130 has been given or offered, and the full amount of any commission so paid may be recovered by the insurer so paying. 3. The amount of any insurance upon which the insured has knowingly received or accepted, either directly or indirectly, any unlawful rebate of the premium or agent’s, solicitor’s or broker’s commission shall be reduced in such proportion as the amount or value of such rebate, commission or other consideration so received by the insured bears to the total premium on such policy. 4. A title insurer or underwritten title company shall be liable to the State of Nevada for five times the amount of any unlawful commission or rebate paid in violation of NRS 686A.130, which amount may be recovered by the Commissioner in addition to any other penalty imposed by law. (Added to NRS by 1971, 1692) NRS 686A.150 Using security, advisory board contract or agreement offering or promising profit as inducement prohibited. Except as provided in subsection 2 of NRS 686A.120 (contemporaneous sales of life insurance and mutual fund shares), no person shall sell, agree or offer to sell, or give or offer to give, directly or indirectly in any manner whatsoever, as an inducement to insurance or in connection therewith, any stock, shares, bonds or other securities of any kind, or any advisory board contract or other contract or agreement of any kind offering or promising returns and profits. (Added to NRS by 1971, 1693) NRS 686A.160 Enforcement: Prohibited practices. If the Commissioner has cause to believe that any person has been engaged or is engaging, in this state, in any unfair method of competition or any unfair or deceptive act or practice prohibited by NRS 686A.010 to 686A.310, inclusive, and that a proceeding by him in respect thereto would be in the interest of the public, he may issue and serve upon such person a statement of the charges and a notice of the hearing to be held thereon. The statement of charges and notice of hearing shall comply with the requirements of NRS 679B.320 and shall be served upon such person directly or by certified or registered mail, return receipt requested. (Added to NRS by 1971, 1693; A 1975, 1288; 1977, 432) NRS 686A.170 Enforcement: Undefined practices. 1. If the Commissioner believes that any person engaged in the insurance business is in the conduct of such business engaging in this state in any method of competition or in any act or practice not defined in NRS 686A.010 to 686A.310, inclusive, which is unfair or deceptive and that a proceeding by him in respect thereto would be in the public interest, the Commissioner shall, after a hearing of which notice and of the charges against such person are given him, make a written report of his findings of fact relative to such charges and serve a copy thereof upon such person and any intervener at the hearing. 2. If such report charges a violation of NRS 686A.010 to 686A.310, inclusive, and if such method of competition, act or practice has not been discontinued, the Commissioner may, through the Attorney General, at any time after 20 days after the service of such report cause an action to be instituted in the district court of the county wherein the person resides or has his principal place of business to enjoin and restrain such person from engaging in such method, act or practice. The court shall have jurisdiction of the proceeding and shall have power to make and enter appropriate orders

Vegas Law