NAC686A.555. Duties of replacing insurer.

     1. Each replacing insurer shall:

     (a) Inform its agents of the requirements of NAC 686A.510 to 686A.577, inclusive.

     (b) Furnish to each agent who may solicit the replacement of a policy, three copies of the notice.

     (c) Retain copies of the notice and copies of the policy summary for at least 3 years after the applicant signs the notice or until the conclusion of the next succeeding regular examination by the department of insurance of its state of domicile, whichever is later.

     (d) If it is not the insurer for the existing policy, within 3 working days after receiving the application, send to the insurer under any existing policy, a copy of the notice.

     2. The replacing insurer shall not issue a policy until a signed copy of the notice is attached to the application.

     [Comm’r of Insurance, LH-3 § 15, eff. 1-4-80]—(NAC A 10-26-84)