Title 57

NRS 690C.330 Civil penalty for violation of chapter or order or regulation of Commissioner. A person who violates any provision of this chapter or an order or regulation of the Commissioner issued or adopted pursuant thereto may be assessed a civil penalty by the Commissioner of …

NRS 690D.010 Definitions. As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 690D.020 to 690D.075, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 2015, 2635)

NRS 690D.020 “Administrator” defined. “Administrator” means a person who is responsible for administering a guaranteed asset protection waiver that is sold or offered for sale by a creditor. (Added to NRS by 2015, 2636)

NRS 690D.025 “Benefits” defined. “Benefits” means a waiver, pursuant to a guaranteed asset protection waiver, of part or all of the amount due on a finance agreement after a total physical damage loss or unrecovered theft of a vehicle covered by the finance agreement. (Added to N…

NRS 690D.030 “Borrower” defined. “Borrower” means a person who owes money to a creditor pursuant to a finance agreement. (Added to NRS by 2015, 2636)

NRS 690D.035 “Creditor” defined. “Creditor” means a person to whom money is owed pursuant to a finance agreement, including, without limitation, the assignee of such an agreement. (Added to NRS by 2015, 2636)

NRS 690D.040 “Dealer” defined. “Dealer” means a seller of a vehicle who provides or arranges for the provision of credit to the buyer of the vehicle for the purpose of financing the purchase of the vehicle. (Added to NRS by 2015, 2636)

NRS 690D.045 “Finance agreement” defined. “Finance agreement” means: 1. A loan made to the buyer of a vehicle for the purpose of financing the purchase of the vehicle and that is secured by the vehicle. 2. A lease between a long-term lessee and a long-term lessor. 3. A retail ins…

NRS 690D.050 “Free-look period” defined. “Free-look period” means a period beginning on or after the effective date of a guaranteed asset protection waiver in which the borrower may cancel the guaranteed asset protection waiver with no penalty, fee or other cost. (Added to NRS by…

NRS 690D.055 “Guaranteed asset protection waiver” defined. “Guaranteed asset protection waiver” means a contract pursuant to which a creditor, in exchange for separately stated consideration, agrees to waive part or all of the amount due to the creditor pursuant to a finance agre…

NRS 690D.060 “Lease” defined. “Lease” has the meaning ascribed to it in NRS 482.053. (Added to NRS by 2015, 2636)

NRS 690D.065 “Long-term lessee” defined. “Long-term lessee” has the meaning ascribed to it in NRS 482.053. (Added to NRS by 2015, 2636)

NRS 690D.070 “Long-term lessor” defined. “Long-term lessor” has the meaning ascribed to it in NRS 482.053. (Added to NRS by 2015, 2636)

NRS 690D.075 “Vehicle” defined. “Vehicle” has the meaning ascribed to it in NRS 482.135, and includes, without limitation, any boat, recreational vehicle, all-terrain vehicle, trailer, personal watercraft or snowmobile. (Added to NRS by 2015, 2636)

NRS 690D.095 Applicability of chapter and title 57 of NRS; certificate of authority not required to issue, sell, offer for sale or administer waiver. 1. Except as otherwise provided in this chapter, the marketing, issuance, sale, offering for sale, making, proposing to make and a…

NRS 690D.100 Applicability of provisions to certain transactions involving vehicles for commercial use. 1. The provisions of subsection 2 of NRS 690D.170, subsection 2 of NRS 690D.190 and NRS 690D.230 do not apply to a guaranteed asset protection waiver offered for sale or sold i…

NRS 690D.150 Restrictions on business name of creditor; exception. 1. Except as otherwise provided in this section, a creditor who sells or offers for sale guaranteed asset protection waivers shall not include in the name of the business of the creditor: (a) The words “insurance,…

NRS 690D.160 Dealer required to carry policy of contractual liability insurance; other creditors authorized to purchase such policy; requirements of policy; cancellation or termination. 1. A dealer who sells or offers to sell guaranteed asset protection waivers shall purchase a p…

NRS 690D.170 Creditor authorized to offer waiver to certain borrowers; manner of payment; cost of waiver required to be listed separately; waiver becomes part of finance agreement and remains such if assigned, sold or transferred. 1. Any creditor may offer to sell or sell a guara…

NRS 690D.180 Requiring purchase of waiver as condition of sale, lease or terms or approval of credit prohibited. A creditor shall not require the purchase of a guaranteed asset protection waiver as a condition for the approval of credit, the terms of the credit or the terms of th…

NRS 690D.190 Required written disclosures. 1. A guaranteed asset protection waiver must contain a conspicuous statement, printed in at least 12-point type that is larger than the surrounding text and with a heading that is printed in all capital letters, stating that: (a) A guara…

NRS 690D.200 Free-look period required; cancellation and refund during or after free-look period; manner and limitations on time for request of refund; creditor authorized to apply refund to balance owed on finance agreement. 1. A guaranteed asset protection waiver must provide a…

NRS 690D.210 Required records; length of retention; manner of storage. 1. A creditor or the designee of a creditor shall maintain records of the transactions governed by this chapter. The records must include, without limitation: (a) A copy of each type of guaranteed asset protec…

NRS 690D.220 Inspection of records by Commissioner. A creditor shall, within 14 business days after a request by the Commissioner, make available to the Commissioner for inspection any accounts, books and records concerning any guaranteed asset protection waiver sold or offered f…

NRS 690D.230 Authority of Commissioner to issue cease and desist order; notice and hearing; fines. Except as otherwise provided in NRS 690D.100: 1. The Commissioner may order any person, including, without limitation, a creditor or administrator, to cease and desist any conduct t…

NRS 691A.010 Applicability of other provisions. All contracts of property insurance covering subjects located in this state are subject to the applicable provisions of chapter 687B of NRS (the insurance contract), and to other applicable provisions of this Code. (Added to NRS by …

NRS 691A.020 Insurer of certain manufactured homes or mobile homes required to offer coverage which pays replacement value in event of total loss of manufactured home or mobile home; exception. 1. Except as otherwise provided in subsection 3, each insurer which provides a policy …

NRS 691A.030 Loans secured by real property: Lender prohibited from requiring borrower to insure improvements to property for more than their replacement value. 1. A lender shall not require a borrower, as a condition of obtaining or maintaining a loan secured by real property, t…

NRS 691A.035 Coverage of peril of wildfire in policy of property insurance. 1. An insurer that issues a policy of property insurance may exclude the peril of wildfire from the coverage provided under the policy. 2. An insurer may, subject to any other applicable provisions of thi…

NRS 691A.040 Regulations. The Commissioner may adopt regulations to carry out the provisions of this chapter. (Added to NRS by 2011, 3387)

NRS 691B.010 Applicability of other provisions. All contracts of surety insurance covering subjects located or to be performed in this state are subject to the applicable provisions of chapter 687B of NRS (the insurance contract), and to other applicable provisions of this Code. …

NRS 691B.020 Power of certain insurers to execute instrument; limitation of liability if two or more such insurers execute instrument; execution satisfies legal requirements. 1. Whenever a bond, undertaking, recognizance, guaranty or other obligation is required, permitted, autho…

NRS 691B.030 Estoppel of insurer which executes surety contract to deny power to execute contract in proceeding to enforce liability. Any insurer which executes any surety contract as surety shall be estopped, in any proceeding to enforce the liability which it has assumed to inc…

NRS 691C.010 Definitions. As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 691C.020 to 691C.230, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 2005, 2105)

NRS 691C.020 “Closed-end credit” defined. “Closed-end credit” means a credit transaction that is not open-end credit. (Added to NRS by 2005, 2105)

NRS 691C.030 “Collateral” defined. “Collateral” means personal property in which a purchase money security interest is retained or personal property that is pledged as security for the satisfaction of a debt. (Added to NRS by 2005, 2105)

NRS 691C.040 “Compensation” defined. “Compensation” means any valuable consideration, direct or indirect, paid by or on behalf of the insurer, or by any subsidiary or parent, or subsidiary of the parent of the insurer, or by any other person to or on behalf of any group policyhol…

NRS 691C.050 “Credit agreement” defined. “Credit agreement” means the written document that sets forth the terms of the credit transaction and includes the security agreement. (Added to NRS by 2005, 2106)

NRS 691C.060 “Credit personal property insurance” defined. “Credit personal property insurance” means a policy, endorsement, rider, binder, certificate or other instrument or evidence of insurance written in connection with a credit transaction that: 1. Covers perils to the goods…

NRS 691C.070 “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. (Added to NRS by 2005, 2106)

NRS 691C.080 “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 691C.090 “Creditor-placed insurance” defined. “Creditor-placed insurance” means single-interest insurance or dual-interest insurance that is purchased by the creditor, as the named insured, after a credit transaction: 1. According to the terms of the credit agreement as a res…

NRS 691C.100 “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 2005, 2106)

NRS 691C.110 “Dual-interest insurance” defined. “Dual-interest insurance” means credit personal property insurance covering the interest of the creditor or seller and any portion of the interest of the borrower in goods purchased through the credit transaction or pledged as colla…

NRS 691C.120 “Experience” defined. “Experience” means earned premiums and incurred losses during the experience period. (Added to NRS by 2005, 2106)

NRS 691C.130 “Experience period” defined. “Experience period” means the most recent period of time that is not more than 3 years and for which earned premiums and incurred losses are reported. (Added to NRS by 2005, 2106)