679B.460  Penalties for violation of or noncompliance with provisions or regulations.

1.  An insurer who willfully or repeatedly violates or fails to comply with a provision of NRS 679B.400 to 679B.450, inclusive, or 690B.260 or a regulation adopted pursuant to NRS 679B.430 is subject, after notice and a hearing held pursuant to NRS 679B.310 to 679B.370, inclusive, to payment of an administrative fine of not more than $1,000 for each day of the violation or failure to comply, up to a maximum fine of $50,000.

2.  An insurer who fails or refuses to comply with an order issued by the Commissioner pursuant to NRS 679B.430 is subject, after notice and a hearing held pursuant to NRS 679B.310 to 679B.370, inclusive, to suspension or revocation of the insurer’s certificate of authority to transact insurance in this state.

3.  The imposition of an administrative fine pursuant to this section must not be considered by the Commissioner in any other administrative proceeding unless the fine has been paid or a court order for payment of the fine has become final.

(Added to NRS by 1989, 1229; A 2003, 3279)