Nev. Rev. Stat. § 691C.250

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1

Section 691C.250 - Credit personal property insurance sold in conjunction with closed-end credit transaction: Insurer prohibited from issuing or selling certain insurance

For credit personal property insurance sold in conjunction with a closed-end credit transaction, an insurer shall not:

1. Issue credit personal property insurance unless the amount financed exceeds $300;

2. Issue credit personal property insurance in an amount that exceeds the amount of the underlying credit transaction; and

3. Sell credit personal property insurance with a term that exceeds the scheduled term of the underlying credit transaction.

NRS 691C.250

Added to NRS by 2005, 2108