NAC690B.320. Reporting requirements for policies used as proof of insurance for payment of tort liabilities; penalties.

     1. An insurer, which executes a contract of insurance for a motor vehicle liability policy that may be used to meet the requirements for NRS 485.185, shall comply with the reporting requirements set forth in NRS 485.313 to 485.318, inclusive.

     2. An insurer who violates subsection 1 is subject to the penalties set forth in NRS 680A.200. Each failure to provide records as required by NRS 485.314 shall be deemed a violation of this section. The Commissioner of Insurance may, pursuant to NRS 680A.200:

     (a) For a first violation, assess an administrative fine of not more than $500.

     (b) For a second violation within 3 years, assess an administrative fine of not more than $1,000.

     (c) For a third or subsequent violation within 3 years, assess an administrative fine of not more than $2,000.

     3. The Division of Insurance of the Department of Business and Industry will maintain a record for 3 years of each violation of this section by an insurer.

     (Added to NAC by Comm’r of Insurance, eff. 12-15-94; A 3-28-96)