NAC683A.480. Accounts, books and records.

Each managing general agent shall:

     1. Submit to the insurer an accounting of each transaction that the managing general agent enters into on behalf of the insurer. The records of each insurer of the managing general agent must be kept separate.

     2. Hold in a fiduciary capacity and immediately deposit, in an account set up for the insurer in a bank which is a member of the Federal Reserve System, all money collected on behalf of each insurer.

     3. Submit to the insurer all money due to the insurer not less than once each month.

     4. Allow the insurer to examine and copy all books, records and accounts pertaining to the insurer in the control of the managing general agent.

     5. Allow the Commissioner to examine and copy all books, records and bank accounts of the managing general agent.

     6. Keep at his or her principal place of business in this State his or her books, records, documents, accounts and vouchers as required by the provisions of NRS 693A.050 for domestic insurers.

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