Nev. Admin. Code § 680C.220 - Due date for payment of annual fee; administrative fine for failure to pay

1. Except as otherwise provided in subsection 2, an insurer shall pay the annual fee set forth in NAC 680C.200 not later than July 1 of each year.

2. If an insurer pays the initial fee required pursuant to subsection 5 of NRS 680C.110:

(a) On or before July 1, the insurer shall pay the annual fee set forth in NAC 680C.200 on or before July 15 of that year. The insurer shall pay all subsequent annual fees set forth in NAC 680C.200 not later than July 1 of each year.

(b) After July 1, the insurer shall pay the annual fee set forth in NAC 680C.200 not later than 30 days after the insurer pays the initial fee. The insurer shall pay all subsequent annual fees set forth in NAC 680C.200 not later than July 1 of each year.

3. An insurer who fails to pay the annual fee set forth in NAC 680C.200 by the date the fee is due is subject to an administrative fine of not less than $25 for each day the fee remains unpaid.

Notes

Nev. Admin. Code § 680C.220

Added to NAC by Comm'r of Insurance by R001-16, eff. 6-28-2016; A by R024-17, 12-19-2017, eff. 7-1-2019

NRS 679B.130, 680C.110