NAC693A.670. Applicability.

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The provisions of NAC 693A.600 to 693A.770, inclusive, do not apply if:

     1. A controlling broker:

     (a) Places insurance only with a controlled insurer, or only with the controlled insurer and an affiliate of the controlled insurer, and receives no compensation based upon the amount of premiums written in connection with that insurance; and

     (b) Accepts insurance only from other nonaffiliated brokers and not directly from insureds; and

     2. The controlled insurer, except for insurance business written through a residual market plan, accepts insurance business only from a controlling broker or a broker that is a subsidiary of the controlled insurer.

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

                    
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