NAC683A.560. Disciplinary action; rights of policyholders, claimants and auditors not restricted.

     1. If the Commissioner finds after a hearing, that a person has violated any provision of NAC 683A.450 to 683A.550, inclusive, the Commissioner will order:

     (a) The revocation or suspension of the person’s license; and

     (b) The managing general agent to reimburse the insurer, the rehabilitator, or liquidator of the insurer for any losses incurred by the insurer and caused by a violation committed by the managing general agent.

     2. The Commissioner will take any other disciplinary action authorized by title 57 of NRS which he or she deems appropriate under the circumstances.

     3. NAC 683A.450 to 683A.560, inclusive, are not intended to limit or restrict the rights of policyholders, claimants and auditors.

     (Added to NAC by Comm’r of Insurance, eff. 9-19-90)