Nev. Admin. Code § 679B.750 - Penalties

1. If the Commissioner determines that there has been a knowing violation of NAC 679B.675 to 679B.730, inclusive, he or she may:

(a) Issue a cease and desist order following notice and a hearing on the violation.

(b) Order payment of a monetary penalty of not more than $2,000 for each violation.

2. Any person who knowingly violates a cease and desist order of the Commissioner will be subject to one or more of the following penalties, at the discretion of the Commissioner:

(a) A monetary fine of not more than $2,000 for each violation;

(b) A monetary fine of not more than $2,000 if the Commissioner finds that violations have occurred often enough to constitute a general business practice; or

(c) Suspension or revocation of an insurance institution's or agent's license.

Notes

Nev. Admin. Code § 679B.750

Added to NAC by Comm'r of Insurance, 10-4-88, eff. 1-1-89

NRS 679B.130