NAC693A.770. Procedure upon noncompliance with certain provisions.

     1. If the Commissioner believes that a controlling broker has not complied with a provision of NAC 693A.600 to 693A.770, inclusive, or any order issued pursuant to those sections, the Commissioner may:

     (a) After giving notice and an opportunity to be heard pursuant to NRS 679B.310 to 679B.370, inclusive, order the controlling broker to cease placing insurance business with a controlled insurer.

     (b) Invoke the aid of the courts to enjoin an existing or threatened violation of a provision of NAC 693A.600 to 693A.770, inclusive, or to enforce an order made pursuant to paragraph (a).

     2. If an order for liquidation or rehabilitation of the controlled insurer has been entered pursuant to chapter 696B of NRS and the Commissioner, acting as domiciliary receiver, believes that the controlling broker has not complied with a provision of NAC 693A.600 to 693A.770, inclusive, or any order issued pursuant to those sections, and the controlled insurer suffered a loss or damage therefrom, the receiver may, on behalf of the controlled insurer and pursuant to NRS 696B.290, maintain a civil action to recover compensatory damages or obtain other appropriate relief against the controlling broker.

     3. This section does not affect:

     (a) The right of the Commissioner to impose any other penalties provided for in title 57 of NRS; or

     (b) The rights of policyholders, claimants, creditors or other third parties to maintain any civil action against a controlling broker.

     (Added to NAC by Comm’r of Insurance, eff. 6-28-96)