NRS
680A.300 Agent required; execution of emergency bond.
1. No authorized insurer may make, write,
place, renew or cause to be made, placed or renewed, any policy or duplicate
policy, endorsement or contract of insurance of any kind upon persons, property
or risks resident, located or to be performed in this State, except through its
duly appointed and licensed agents.
2. In any case where it is necessary to
execute an emergency bond and a commissioned agent authorized to execute the
bond is not present, a manager or other employee of the insurer having
authority under a power of attorney may execute the bond in order to produce a
valid contract between the insurer and the obligee. The commissioned agent who
executes the bond shall make and retain an adequate office record of the
transaction.
(Added to NRS by 1971,
1589; A 1981,
704; 2009,
1765; 2019,
1691)
Notes of Decisions
Grand Hotel Gift Shop v. Granite State Ins., 839 P.2d 599 (Nev. 1992).
· cites it 2× “The insurance licensing statutes require out-of-state insurers to appoint resident agents or brokers in Nevada to transact business.”
Council of Ins. Agents + Brokers v. Molasky-Arman, 358 F. Supp. 2d 981 (D. Nev. 2004).
· cites it 4× “In this action, the Plaintiffs Council of Insurance Agents + Brokers (“The Council”) and Rebecca Restrepo (“Restrepo”) challenge Nevada’s “countersignature” law, Nev.Rev.Stat. § 680A.300, that precludes an insurance agent or broker who is duly licensed by the State of Nevada but…”
Council of Ins. v. Molasky-Arman (9th Cir. 2008).
“In this case, the Council challenges Nevada’s “countersig- nature” statute, Nev. Rev. Stat. § 680A.300, which provides that no authorized insurer may make, write, place, or renew any insurance policy on persons, property, or risks in Nevada, “except through its duly appointed…”
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