Nevada Administrative Code
Chapter 683A - Persons Involved in Sale or Administration of Insurance
MANAGING GENERAL AGENTS
Section 683A.560 - Disciplinary action; rights of policyholders, claimants and auditors not restricted
Universal Citation: NV Admin Code 683A.560
Current through September 16, 2024
1. If the Commissioner finds after a hearing, that a person has violated any provision of NAC 683A.450 to 683A.550, inclusive, the Commissioner will order:
(a) The revocation or suspension of the
person's license; and
(b) The
managing general agent to reimburse the insurer, the rehabilitator, or
liquidator of the insurer for any losses incurred by the insurer and caused by
a violation committed by the managing general agent.
2. The Commissioner will take any other disciplinary action authorized by title 57 of NRS which he or she deems appropriate under the circumstances.
3. NAC 683A.450 to 683A.560, inclusive, are not intended to limit or restrict the rights of policyholders, claimants and auditors.
Added to NAC by Comm'r of Insurance, eff. 9-19-90
NRS 679B.130
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