1. Except as provided in NRS 680A.310, no authorized insurer may make, write, place, renew or cause to be made, placed or renewed, any policy or duplicate policy, endorsement or contract of insurance of any kind upon persons, property or risks resident, located or to be performed in this State, except through its duly appointed and licensed agents, any one of whom shall countersign the policy, endorsement or contract.
2. Where two or more insurers jointly issue a single policy, the policy may be countersigned, on behalf of all insurers appearing thereon, by a duly appointed and licensed agent of any one insurer.
3. In any case where it is necessary to execute an emergency bond and a commissioned agent authorized to execute the bond is not present, a manager or other employee of the insurer having authority under a power of attorney may execute the bond in order to produce a valid contract between the insurer and the obligee. The bond must subsequently be countersigned by a commissioned agent who is authorized to execute the bond. The commissioned agent who executes the bond shall make and retain an adequate office record of the transaction.
4. An insurer may use an endorsement to the policy for the sole purpose of countersigning the policy, as required in this section, only if:
(a) The endorsement is attached to the policy to which it applies; and
(b) The policy insures persons or property in this State and one or more other states.
(Added to NRS by 1971, 1589; A 1981, 704; 2009, 1765)
1. Except as provided in NRS 680A.310, no authorized insurer may make, write, place, renew or cause to be made, placed or renewed, any policy or duplicate policy, endorsement or contract of insurance of any kind upon persons, property or risks resident, located or to be performed in this State, except through its duly appointed and licensed agents, any one of whom shall countersign the policy, endorsement or contract.
2. Where two or more insurers jointly issue a single policy, the policy may be countersigned, on behalf of all insurers appearing thereon, by a duly appointed and licensed agent of any one insurer.
3. In any case where it is necessary to execute an emergency bond and a commissioned agent authorized to execute the bond is not present, a manager or other employee of the insurer having authority under a power of attorney may execute the bond in order to produce a valid contract between the insurer and the obligee. The bond must subsequently be countersigned by a commissioned agent who is authorized to execute the bond. The commissioned agent who executes the bond shall make and retain an adequate office record of the transaction.
4. An insurer may use an endorsement to the policy for the sole purpose of countersigning the policy, as required in this section, only if:
(a) The endorsement is attached to the policy to which it applies; and
(b) The policy insures persons or property in this State and one or more other states.
(Added to NRS by 1971, 1589; A 1981, 704; 2009, 1765)
1. Except as provided in NRS 680A.310, no authorized insurer may make, write, place, renew or cause to be made, placed or renewed, any policy or duplicate policy, endorsement or contract of insurance of any kind upon persons, property or risks resident, located or to be performed in this State, except through its duly appointed and licensed agents, any one of whom shall countersign the policy, endorsement or contract.
2. Where two or more insurers jointly issue a single policy, the policy may be countersigned, on behalf of all insurers appearing thereon, by a duly appointed and licensed agent of any one insurer.
3. In any case where it is necessary to execute an emergency bond and a commissioned agent authorized to execute the bond is not present, a manager or other employee of the insurer having authority under a power of attorney may execute the bond in order to produce a valid contract between the insurer and the obligee. The bond must subsequently be countersigned by a commissioned agent who is authorized to execute the bond. The commissioned agent who executes the bond shall make and retain an adequate office record of the transaction.
4. An insurer may use an endorsement to the policy for the sole purpose of countersigning the policy, as required in this section, only if:
(a) The endorsement is attached to the policy to which it applies; and
(b) The policy insures persons or property in this State and one or more other states.
(Added to NRS by 1971, 1589; A 1981, 704; 2009, 1765)
