1. Any unauthorized insurer who transacts any unauthorized act of an insurance business as set forth in the Unauthorized Insurers Act may be fined not more than $10,000 for each act or violation.
2. In addition to the penalties provided in subsection 1, such a violator is liable, personally, jointly and severally with any other person liable therefor, for the payment of premium taxes at the same rate of tax as imposed by law on the premiums of similar coverages written by authorized insurers.
(Added to NRS by 1971, 1686; A 1993, 2393; 2003, 3303; 2005, 2131)
Structure Nevada Revised Statutes
Chapter 685B - Unauthorized Insurers; Prohibitions, Process and Advertising
NRS 685B.010 - Purpose of chapter.
NRS 685B.030 - Transaction of unauthorized insurance business unlawful; exceptions; venue; effect.
NRS 685B.040 - Injunctive relief.
NRS 685B.050 - Service of process on unauthorized insurer.
NRS 685B.070 - Enforcement of foreign decrees.
NRS 685B.080 - Penalty; liability for payment of premium taxes.
NRS 685B.083 - Penalty for representing or aiding unauthorized insurer.
NRS 685B.087 - Penalty for transaction of unauthorized insurance business.
NRS 685B.110 - Action by Commissioner; penalty.
NRS 685B.120 - Person providing specified coverage; exception.
NRS 685B.130 - Proof of regulation by Federal Government.
NRS 685B.140 - Submission to examination of Commissioner.
NRS 685B.150 - Information to be provided to agents, brokers and others.
NRS 685B.160 - Statement of charges; notice of hearing.
NRS 685B.170 - Order after hearing; administrative fines; modification of order.