Nev. Admin. Code § 679B.111 - Repayment

1. The Commissioner may treat any payment from the Account in settlement of a claim or toward satisfaction of a final judgment against a licensee as sufficient ground for the revocation or suspension of his or her license or for any other appropriate discipline. No license may be reinstated until the licensee has repaid the amount paid from the Account on his or her behalf, plus interest at the prevailing rate for a judgment rendered in any court of this State. The interest must be calculated from the date the payment was made from the Account.

2. A discharge in bankruptcy of the debt created by the final judgment does not relieve a person from the penalties provided in NAC 679B.041 to 679B.151, inclusive, and section 1.

Notes

Nev. Admin. Code § 679B.111

Added to NAC by Comm'r of Insurance, eff. 3-18-82; A by R152-99, 1-28-2000; A by R001-16, eff. 6/28/2016

NRS 679B.130 and 679B.305, as amended by section 2 of Assembly Bill No. 486, chapter 480, Statutes of Nevada 2015, at page 2832