Title 57

NRS 690A.015 “Credit insurance” and “consumer credit insurance” defined. “Credit insurance” or “consumer credit insurance” means any or all of the following: 1. Credit life insurance; 2. Credit accident and health insurance; 3. Credit unemployment insurance; or 4. Any other insur…

NRS 690A.016 “Credit life insurance” defined. “Credit life insurance” means insurance on the life of a debtor pursuant to or in connection with a specific loan or other credit transaction to provide for satisfaction of a debt, in whole or in part, upon the death of an insured deb…

NRS 690A.0163 “Credit transaction” defined. “Credit transaction” means any transaction for which the terms of repayment of money loaned or loan commitment made, or payment of goods, services or properties sold or leased, is to be made at a future date or dates. (Added to NRS by 2…

NRS 690A.0167 “Credit unemployment insurance” defined. “Credit unemployment insurance” means insurance on a debtor to provide indemnity for payments or a debt becoming due on a specific loan or other credit transaction while the debtor is involuntarily unemployed as defined in th…

NRS 690A.017 “Creditor” defined. “Creditor” means the lender of money or vendor or lessor of goods, services, property, rights or privileges for which payment is arranged through a credit transaction, and includes: 1. The successor to the right, title or interest of; 2. An affili…

NRS 690A.018 “Debtor” defined. “Debtor” means a borrower of money or a purchaser or lessee of goods, services, property, rights or privileges for which payment is arranged through a credit transaction. (Added to NRS by 1987, 2288)

NRS 690A.0195 “Gross debt” defined. “Gross debt” means the sum of the remaining payments owed to a creditor by a debtor. (Added to NRS by 2005, 2137)

NRS 690A.0205 “Identifiable charge” defined. “Identifiable charge” means a charge for consumer credit insurance that is made to debtors who have that insurance and not made to debtors who do not have that insurance. The term includes a charge for insurance that is disclosed in th…

NRS 690A.0243 “Net debt” defined. “Net debt” means the amount required to liquidate the remaining debt in a single lump-sum payment, excluding all unearned interest and other unearned finance charges. (Added to NRS by 2005, 2138)

NRS 690A.0247 “Open-end credit” defined. “Open-end credit” means credit extended by a creditor under an agreement in which: 1. The creditor reasonably contemplates repeated transactions; 2. The creditor periodically imposes a finance charge on any outstanding unpaid balance; and …

NRS 690A.045 Amounts of credit life insurance. 1. Except as otherwise provided in this section, the amount of credit life insurance must not exceed the greater of the actual net debt or the scheduled net debt. 2. If coverage is written on the actual net debt, the amount payable a…

NRS 690A.050 Amounts of credit accident and health insurance or credit unemployment insurance. 1. Except as otherwise provided in subsection 2, the total amount of periodic indemnity payable pursuant to a policy of credit accident and health insurance or credit unemployment insur…

NRS 690A.055 Combinations of consumer credit insurance; prohibition or limitation by regulation. The types of consumer credit insurance defined in this chapter may be written separately or in combination with other types of consumer credit insurance on an individual policy or gro…

NRS 690A.063 Commencement of consumer credit insurance; prohibited charging or retention of payment. 1. Except as otherwise provided in this section, for consumer credit insurance that is made available to and elected by a debtor before or with the credit transaction to which it …

NRS 690A.067 Term and cancellation of consumer credit insurance. 1. The term of any consumer credit insurance must not extend beyond the date of termination specified in the policy. The date of termination of the insurance must not occur more than 15 days after the scheduled matu…

NRS 690A.073 Required disclosures. 1. Before a debtor elects to purchase consumer credit insurance in connection with a credit transaction, the following information must be disclosed to the debtor in writing: (a) That the purchase of consumer credit insurance from the creditor i…

NRS 690A.075 Acceptance of insurance by insurer other than named insurer; nonacceptance. 1. If a named insurer does not accept the insurance and another insurer accepts the insurance, the insurer shall provide an individual policy or group certificate that includes the name and a…

NRS 690A.077 Policies and certificates of insurance: Contents; delivery. 1. All consumer credit insurance must be evidenced by an individual policy or a group certificate that is delivered to the debtor. 2. The individual policy or group certificate must, in addition to other req…

NRS 690A.083 Application or notice of proposed insurance: Delivery to insured; contents; use to meet certain requirements. 1. If the individual policy or group certificate is not delivered to the debtor at the time the debt is incurred or at such other time as the debtor purchase…

NRS 690A.085 Policies, certificates, forms and schedules of rates: Filing; approval or disapproval; withdrawal of approval. 1. Except as otherwise provided in NRS 690A.087 and 690A.093, all policies, certificates of insurance, applications for insurance, enrollment forms, endorse…

NRS 690A.087 Adoption of forms by regulation; use of forms by insurer. 1. The Commissioner may adopt by regulation forms for use in the issuance of consumer credit insurance, including applications, policies, forms for claims and any other forms required for the sale, issuance an…

NRS 690A.093 Establishment of reasonable rates by regulation; use of certain rates without filing with Commissioner. 1. The Commissioner shall, by regulation, establish reasonable rates as described in this chapter and in accordance with the standards established in NRS 686B.050 …

NRS 690A.095 Filing of revised schedule of premium rates. Except as otherwise provided in NRS 690A.093, if an insurer revises its schedule of premium rates, the insurer shall file the revised schedule with the Commissioner pursuant to NRS 690A.085. An insurer shall not issue cons…

NRS 690A.097 Refund of unearned premiums upon cancellation of insurance; regulations; approval of refund formula. 1. Each individual policy or group certificate must provide for a refund of unearned premiums if the consumer credit insurance is cancelled before the scheduled date …

NRS 690A.103 Actions by creditor if creditor requires debtor to make payment for consumer credit insurance without issuance of individual policy or group certificate. If a creditor requires a debtor to make a payment for consumer credit insurance and an individual policy or group…

NRS 690A.107 Limitation on amount charged for consumer credit insurance. The amount charged to a debtor for any consumer credit insurance must not exceed the amount of the premiums charged by the insurer as determined at the time that the contract was accepted by the debtor. (Add…

NRS 690A.120 Delivery or issuance of policies and certificates of consumer credit insurance: Authorized entities. All policies and certificates of consumer credit insurance may be delivered or issued for delivery in this State only by an insurer authorized to do an insurance busi…

NRS 690A.130 Claims: Reporting to insured; maintenance by insurer; settlement; payment. 1. All claims must be promptly reported to the insurer or its designated representative, and the insurer shall maintain adequate files on all reported claims. All claims must be settled as soo…

NRS 690A.140 Consumer credit insurance required as additional security for debt: Use of existing insurance or through another insurer. When any form of consumer credit insurance is required as additional security for any debt, the debtor may furnish the required amount of insuran…

NRS 690A.260 Transfers to unauthorized insurer. 1. Except as otherwise provided in subsection 2, an authorized insurer issuing consumer credit insurance may not enter into any agreement whereby the authorized insurer transfers, by reinsurance or otherwise, to an unauthorized insu…

NRS 690A.273 Authority for creditor as agent of insurer to carry out duty imposed on insurer. Except as otherwise prohibited by law, any duty imposed on an insurer pursuant to this chapter may be carried out by a creditor who is acting as an agent of the insurer. (Added to NRS by…

NRS 690A.277 Regulations. The Commissioner may adopt regulations to carry out the provisions of this chapter. (Added to NRS by 2005, 2143)

NRS 690A.280 Administrative penalties; revocation or suspension of license or certificate of authority. In addition to any other penalty provided by law, any person who violates any provision of this chapter or a regulation adopted or a final order of the Commissioner issued purs…