Section 687B.053 - Compensation to producers for sale, renewal or replacement of contract or certificate1. An insurer or similar organization may pay compensation to a producer for the sale of a long-term care insurance contract or certificate on the basis of a set schedule. The amount of the compensation paid for the replacement of a long-term care insurance contract or certificate must be made in accordance with the renewal schedule of the replacing insurer unless the long-term care insurance contract or certificate cannot be renewed by the original insurer.2. The compensation provided by the insurer or similar organization for the renewal of a replacement long-term care insurance contract in subsequent years by the replacing insurer must be the same compensation schedule as provided by the replacing insurer unless the original insurer cannot renew the long-term care insurance contract or certificate.3. If long-term care insurance is provided as part of an annuity contract, life insurance policy, disability income insurance policy or rider or endorsement, the requirements of this section apply only to the compensation attributable to the long-term care insurance provided by the policy.4. As used in this section, "compensation" has the meaning ascribed to it in NAC 683A.708.Nev. Admin. Code § 687B.053
Added to NAC by Comm'r of Insurance by R121-07, 9-18-2008, eff. 10-1-2008; A by R053-09, 10-27-2009; R028-10, 12-16-2010, eff. 10-1-2011