NAC683A.275. Short-term lessor of passenger vehicles: Licensure requirement; provision for training and supervision of employees; maintenance and availability of records.

     1. A person licensed as a short-term lessor of passenger vehicles pursuant to NRS 482.363 must be licensed as a limited producer pursuant to paragraph (k) of subsection 1 of NRS 683A.261 before engaging in the sale or solicitation of policies of insurance requested by short-term lessees of passenger vehicles.

     2. Each short-term lessor of passenger vehicles shall provide training for each employee who will solicit or sell policies of insurance to short-term lessees. The training must include instruction relating to:

     (a) The policies of insurance that will be offered for sale to short-term lessees;

     (b) Ethical practices concerning the sale of policies of insurance; and

     (c) The sales materials and disclosures provided to short-term lessees.

     3. The manager of each location of a short-term lessor of passenger vehicles is responsible for the supervision of each employee who solicits or sells policies of insurance at that location.

     4. A short-term lessor of passenger vehicles shall maintain the following records for at least 5 years:

     (a) A copy of the instructional materials used to train employees pursuant to subsection 2;

     (b) A list that includes the name of each manager who is responsible for the supervision of employees pursuant to subsection 3;

     (c) A list that includes the name of each employee who is authorized by the short-term lessor to solicit or sell policies of insurance to short-term lessees; and

     (d) Proof that each such employee has completed the training required by subsection 2.

     5. A short-term lessor of passenger vehicles shall make the records required by subsection 4 available for examination by the Commissioner or a designee thereof upon request.

     (Added to NAC by Comm’r of Insurance by R152-99, eff. 1-28-2000; A by R172-01, 7-5-2002)