Nev. Admin. Code § 690C.100

Current through November 8, 2024

Section 690C.100 - Submission and approval of contract; fees

1. A provider shall not issue, sell or offer for sale a service contract in this State unless the service contract has been:

(a) Filed with the Commissioner in accordance with the System for Electronic Rate and Form Filing developed and implemented by the National Association of Insurance Commissioners or its successor organization; and

(b) Approved by the Commissioner.

2. A provider who files a service contract with the Commissioner for approval pursuant to subsection 1 must also file with the service contract:

(a) All documents that are part of the application for the service contract;

(b) All documents that are part of the service contract; and

(c) The appropriate fee described in subsection 3.

3. The provider must pay the following fees by using the Electronic Funds Transfer function within the System for Electronic Rate and Form Filing:

(a) Twenty-five dollars for:

(1) The initial filing of all the forms that comprise a new service contract.

(2) The filing of a service contract that modifies a service contract which has been approved by the Commissioner pursuant to this section.

(b) Ten dollars for the filing of a rider or endorsement to a service contract that has been approved by the Commissioner pursuant to this section.

4. The Commissioner may approve or disapprove a service contract filed pursuant to this section within 60 days after the date on which the Commissioner determines that the provider has fully complied with the requirements of subsection 2. If the Commissioner does not approve or disapprove the service contract within the 60 days described in this subsection, the service contract shall be deemed to be approved by the Commissioner. Each service contract shall be deemed to be complete upon its filing with the Commissioner, unless the Commissioner, within 15 business days after the service contract is filed with him or her, determines that the proposal is incomplete because the proposal does not comply with subsection 2.

Nev. Admin. Code § 690C.100

Added to NAC by Comm'r of Insurance by R195-99, eff. 1-27-2000; A by R093-17AP, eff. 2/27/2018

NRS 679B.130, 679B.136, 690C.300