Section 693A.720 - Limit on writings of controlling producer: Provision; notification1. A contract between a controlling producer and a controlled insurer must provide a limit on the controlling producer's writings that is within the limit on the controlled insurer's surplus and total writings. A different limit for each line or subline of insurance may be established in the contract.2. A controlled insurer shall notify the controlling producer when the producer is approaching the limit established pursuant to subsection 1. The controlled insurer shall not accept insurance business from the controlling producer if the producer has reached the limit. The controlling producer shall not place insurance business with the controlled insurer if the producer has been notified by the controlled insurer that he or she has reached his or her limit.Nev. Admin. Code § 693A.720
Added to NAC by Comm'r of Insurance, eff. 6-28-96; A by R094-14, eff. 12/21/2015