cern licensing, apply to persons exempt from licensing pursuant to subsection 1. (Added to NRS by 1985, 1154; A 1993, 1917) NRS 686A.360 Application for license. 1. An application for a license to engage in the business of a company must be filed with the Commissioner on a form prescribed by him and must include: (a) A nonrefundable fee for application and for investigation of the applicant of $500; (b) A surety bond payable to the State of Nevada in the amount of $50,000, executed by a surety company which is authorized to do business in Nevada; (c) A current certified financial statement or another financial statement if individually approved by the Commissioner; (d) An appointment of the Commissioner and his successors in office as the applicant’s attorney to receive service of process; and (e) If the applicant is a corporation, a copy of its articles of incorporation. 2. The applicant shall provide the Commissioner with any material change concerning information contained in the application within 10 days after the change occurs. (Added to NRS by 1985, 1154; A 1991, 1629; 1993, 2395) NRS 686A.370 True name and fictitious name of licensee; grounds for disapproval of name. 1. An unincorporated licensee or unincorporated applicant for a license who desires the issuance of a license under a fictitious name must file with the Commissioner a certified copy of the entry in the county clerk’s register and of the certificate or any renewal certificate filed pursuant to chapter 602 of NRS. An incorporated licensee and incorporated applicant must file with the Commissioner in writing the corporation’s true name and the fictitious names under which it conducts or intends to conduct business in this state. After licensing, each licensee shall file promptly with the Commissioner written notice of any change in or discontinuance of any fictitious name. 2. The Commissioner may in writing disapprove the use of any true name, other than the bona fide natural name of a natural person, or any fictitious name used or proposed to be used by any applicant or licensee, on any of the following grounds: (a) The name interferes with or is deceptively similar to a name already filed and in use by another licensee; (b) Use of the name may mislead the public in any respect; or (c) The name states or implies that the licensee or applicant is an insurer or is entitled to engage in insurance activities not authorized under the licenses which he holds or for which he has applied. (Added to NRS by 1985, 1154; A 2001, 814) NRS 686A.380 Renewal of license. 1. A company must renew its license on or before March 1 of each year. An application for renewal must be submitted on a form prescribed by the Commissioner and must be accompanied by: (a) A financial statement for the preceding year; and (b) A fee of $500 and any penalty imposed pursuant to subsection 2. 2. The Commissioner may grant an extension allowing a company to file an application for renewal after March 1 if the company shows that for reasons beyond its control it cannot apply before that date. If a company which has not been granted an extension files its application for renewal after March 1, the company shall pay a penalty of $25 for each day the application is late. (Added to NRS by 1985, 1155; A 1987, 463; 1991, 1629) NRS 686A.385 Schedule of rates and charges to be filed with Commissioner. 1. A company shall, immediately after it has been issued a license, file with the Commissioner a schedule of rates and charges it intends to use in this state. The schedule must include, and separately identify, any commission which is required to be paid to an agent or broker who completes an agreement. Any change in the schedule must be filed with the Commissioner at least 60 days before the rates become effective. 2. A company may not impose a charge included in an agreement unless the charge is included in the schedule filed with the Commissioner. 3. The Commissioner shall not approve any charge listed in the schedule which is unfairly discriminatory in relation to similar risks. (Added to NRS by 1993, 2393) NRS 686A.390 Approval of forms. 1. Before using a form for an agreement or notice required by this chapter, a company must submit the proposed form to the Commissioner for approval. If the Commissioner does not disapprove a form within 60 days after it is submitted, the form shall be deemed approved. 2. The Commissioner shall not approve any form unless it complies with the provisions of NRS 686A.330 to 686A.520, inclusive. 3. An insurer, including any subsidiary of an insurer or corporation under substantially the same management or control as an insurer, shall file all forms for agreements and any related forms. The filing required in this subsection is in addition to the filings required pursuant to chapter 686B of NRS. (Added to NRS by 1985, 1155; A 1993, 2395) NRS 686A.400 Records: Maintenance; form of preservation; open to Commissioner. 1. A company shall maintain records of each transaction for 3 years after making the final entry with respect to the transaction. The records may be preserved in photographic form, on microfilm or microfiche or in a form approved by the Commissioner. 2. The records must be open to the Commissioner at all times. The Commissioner may require a company to furnish to him in any form he requires any information maintained in the company’s records. (Added to NRS by 1985, 1155) NRS 686A.410 Examination of company by Commissioner. The Commissioner may conduct an examination of a company at any time in accordance with NRS 679B.250 to 679B.287, inclusive. The expense of the examination must be borne by the company in accordance with NRS 679B.290 as if the company were an insurer. (Added to NRS by 1985, 1155; A 1995, 1773) NRS 686A.420 Contents of agreement. 1. An agreement executed in this state must be dated and signed by the insured. The printed portion of the agreement must be in not less than 8-point type. The agreement must include: (a) The name and the address and telephone number of the business of the insurance agent for the insurance contract to which the agreement relates; (b) The name and the address of the business or residence of the insured; (c) The name, address and telephone number of the company to which payments must be made; (d) A brief description of any insurance policy involved; and (e) Such other information as may be required by the Commissioner. 2. An agreement must have at its top in type which is more prominent than the text of the agreement, the words “Agreement For Financing Premium” or words of similar meaning. An agreement must contain a notice in type which is more prominent than the text of the agreement which reads as follows: Notice: 1. Do not sign this agreement before you have read it or if it contains any blank spaces. 2. You are entitled to a copy of this agreement which is complete. (Added to NRS by 1985, 1155) NRS 686A.430 Furnishing of completed copy of agreement to insured. The agent, broker or other person preparing an agreement shall furnish a completed copy of the agreement to the insured immediately after the insured signs the agreement. (Added to NRS by 1985, 1156) NRS 686A.440 Interest; prepayment. 1. A company shall not charge or collect a charge for interest which is not permitted by this section. 2. Interest must be computed on the balance due, after subtracting the down payment, from the effective date of the insurance contract or agreement, whichever is earlier, through the date on which the final installment is payable. 3. The rate of interest must be specified in the agreement.

Vegas Law