NRS: CHAPTER 680C - FUND FOR INSURANCE ADMINISTRATION AND ENFORCEMENT

[Rev. 6/29/2024 4:57:13 PM--2023]

CHAPTER 680C - FUND FOR INSURANCE ADMINISTRATION AND ENFORCEMENT

NRS 680C.100 Creation; use; investment.

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NRS 680C.100 Creation; use; investment.

1. The Fund for Insurance Administration and Enforcement is hereby created in the State Treasury as an enterprise fund.

2. The Fund must be used solely for the administration and enforcement of the Code and other laws and regulations enforced by the Division.

3. The State Treasurer shall invest the money in the Fund in the same manner and in the same securities in which he or she is authorized to invest state general funds that are in his or her custody. Income realized from the investment of the assets of the Fund must be credited to the Fund.

4. The money in each account within the Fund may not be used for any purpose other than that provided by law for that account.

(Added to NRS by 2009, 1761; A 2011, 982)

NRS 680C.110 Fees.

1. In addition to any other fee or charge, the Commissioner shall collect in advance and receipt for, and persons so served must pay to the Commissioner, the fees required by this section.

2. A fee required by this section must be:

(a) If an initial fee, paid at the time of an initial application or issuance of a license, as applicable;

(b) Except as otherwise provided in NRS 680A.180, 683A.378, 686A.380, 690C.160, 694C.230, 695A.080, 695B.135, 695D.150, 695H.090 and 696A.150, if an annual fee, paid on or before the date established by regulation of the Commissioner;

(c) If a triennial fee, paid on or before the time of continuation, renewal or other similar action in regard to a certificate, license, permit or other type of authorization, as applicable; and

(d) Deposited in the Fund for Insurance Administration and Enforcement created by NRS 680C.100.

3. The fees required pursuant to this section are not refundable.

4. The following fees must be paid by the following persons to the Commissioner:

(a) Associations of self-insured private employers, as defined in NRS 616A.050:

(1) Initial fee..................................................................................................... $1,300

(2) Annual fee................................................................................................... $1,300

(b) Associations of self-insured public employers, as defined in NRS 616A.055:

(1) Initial fee..................................................................................................... $1,300

(2) Annual fee................................................................................................... $1,300

(1) Initial fee........................................................................................................... $60

(2) Annual fee........................................................................................................ $60

(d) Producers of insurance, as defined in NRS 679A.117:

(1) Initial fee........................................................................................................... $60

(2) Triennial fee..................................................................................................... $60

(e) Reinsurers, as provided for in NRS 681A.1551 or 681A.160, as applicable:

(1) Initial fee..................................................................................................... $1,300

(2) Annual fee................................................................................................... $1,300

(f) Intermediaries, as defined in NRS 681A.330:

(1) Initial fee........................................................................................................... $60

(2) Triennial fee..................................................................................................... $60

(g) Reinsurers, as defined in NRS 681A.370:

(1) Initial fee..................................................................................................... $1,300

(2) Annual fee................................................................................................... $1,300

(h) Administrators, as defined in NRS 683A.025:

(1) Initial fee........................................................................................................... $60

(2) Triennial fee..................................................................................................... $60

(i) Managing general agents, as defined in NRS 683A.060:

(1) Initial fee........................................................................................................... $60

(2) Triennial fee..................................................................................................... $60

(j) Agents who perform utilization reviews, as defined in NRS 683A.376:

(1) Initial fee........................................................................................................... $60

(2) Annual fee........................................................................................................ $60

(k) Insurance consultants, as defined in NRS 683C.010:

(1) Initial fee........................................................................................................... $60

(2) Triennial fee..................................................................................................... $60

(l) Independent adjusters, as defined in NRS 684A.030:

(1) Initial fee........................................................................................................... $60

(2) Triennial fee..................................................................................................... $60

(m) Public adjusters, as defined in NRS 684A.030:

(1) Initial fee........................................................................................................... $60

(2) Triennial fee..................................................................................................... $60

(n) Motor vehicle physical damage appraisers, as defined in NRS 684B.010:

(1) Initial fee........................................................................................................... $60

(2) Triennial fee..................................................................................................... $60

(o) Brokers, as defined in NRS 685A.031:

(1) Initial fee........................................................................................................... $60

(2) Triennial fee..................................................................................................... $60

(p) Companies, as defined in NRS 686A.330:

(1) Initial fee..................................................................................................... $1,300

(2) Annual fee................................................................................................... $1,300

(q) Rate service organizations, as defined in NRS 686B.020:

(1) Initial fee..................................................................................................... $1,300

(2) Annual fee................................................................................................... $1,300

(r) Brokers of viatical settlements, as defined in NRS 688C.030:

(1) Initial fee........................................................................................................... $60

(2) Annual fee........................................................................................................ $60

(s) Providers of viatical settlements, as defined in NRS 688C.080:

(1) Initial fee........................................................................................................... $60

(2) Annual fee........................................................................................................ $60

(t) Agents for prepaid burial contracts subject to the provisions of chapter 689 of NRS:

(1) Initial fee........................................................................................................... $60

(2) Triennial fee..................................................................................................... $60

(u) Agents for prepaid funeral contracts subject to the provisions of chapter 689 of NRS:

(1) Initial fee........................................................................................................... $60

(2) Triennial fee..................................................................................................... $60

(v) Sellers of prepaid burial contracts subject to the provisions of chapter 689 of NRS:

(1) Initial fee........................................................................................................... $60

(2) Triennial fee..................................................................................................... $60

(w) Sellers of prepaid funeral contracts subject to the provisions of chapter 689 of NRS:

(1) Initial fee........................................................................................................... $60

(2) Triennial fee..................................................................................................... $60

(x) Providers, as defined in NRS 690C.070:

(1) Initial fee..................................................................................................... $1,300

(2) Annual fee................................................................................................... $1,300

(y) Escrow officers, as defined in NRS 692A.028:

(1) Initial fee........................................................................................................... $60

(2) Triennial fee..................................................................................................... $60

(z) Title agents, as defined in NRS 692A.060:

(1) Initial fee........................................................................................................... $60

(2) Triennial fee..................................................................................................... $60

(aa) Captive insurers, as defined in NRS 694C.060:

(1) Initial fee........................................................................................................ $250

(2) Annual fee...................................................................................................... $250

(bb) Purchasing groups, as defined in NRS 695E.100:

(1) Initial fee........................................................................................................ $250

(2) Annual fee...................................................................................................... $250

(cc) Risk retention groups, as defined in NRS 695E.110:

(1) Initial fee........................................................................................................ $250

(2) Annual fee...................................................................................................... $250

(dd) Medical discount plans, as defined in NRS 695H.050:

(1) Initial fee..................................................................................................... $1,300

(2) Annual fee................................................................................................... $1,300

(ee) Club agents, as defined in NRS 696A.040:

(1) Initial fee........................................................................................................... $60

(2) Triennial fee..................................................................................................... $60

(ff) Motor clubs, as defined in NRS 696A.050:

(1) Initial fee..................................................................................................... $1,300

(2) Annual fee................................................................................................... $1,300

(gg) Bail agents, as defined in NRS 697.040:

(1) Initial fee........................................................................................................... $60

(2) Triennial fee..................................................................................................... $60

(hh) Bail enforcement agents, as defined in NRS 697.055:

(1) Initial fee........................................................................................................... $60

(2) Triennial fee..................................................................................................... $60

(ii) Bail solicitors, as defined in NRS 697.060:

(1) Initial fee........................................................................................................... $60

(2) Triennial fee..................................................................................................... $60

(jj) General agents, as defined in NRS 697.070:

(1) Initial fee........................................................................................................... $60

(2) Triennial fee..................................................................................................... $60

(kk) Exchange enrollment facilitators, as defined in NRS 695J.050:

(1) Initial fee........................................................................................................... $60

(2) Triennial fee..................................................................................................... $60

5. An initial fee of $1,000 must be paid to the Commissioner by each:

(a) Insurer who is authorized to transact casualty insurance, as defined in NRS 681A.020;

(b) Insurer who is authorized to transact health insurance, as defined in NRS 681A.030;

(d) Insurer who is authorized to transact property insurance, as defined in NRS 681A.060;

(e) Title insurer, as defined in NRS 692A.070;

(f) Fraternal benefit society, as defined in NRS 695A.010;

(g) Corporation subject to the provisions of chapter 695B of NRS;

(h) Health maintenance organization, as defined in NRS 695C.030;

(i) Organization for dental care, as defined in NRS 695D.060; and

(j) Prepaid limited health service organization, as defined in NRS 695F.050.

6. An insurer who is required to pay an initial fee of $1,000 pursuant to subsection 5 shall also pay to the Commissioner an annual fee in an amount determined by the Commissioner. When determining the amount of the annual fee, the Commissioner must consider:

(a) The direct written premiums reported to the Commissioner by the insurer during the previous year;

(b) The number of insurers who are required to pay an annual fee pursuant to this subsection;

(d) The budget of the Division.

7. An insurer who is not required to pay an initial or annual fee pursuant to subsection 4 or subsections 5 and 6 shall pay to the Commissioner an initial fee of $1,300 and an annual fee of $1,300.

(Added to NRS by 2009, 1761; A 2011, 2006, 3349; 2013, 3601; 2015, 2833, 3378; 2019, 1691, 3025)