616B.506 - Imposition of administrative fine for violations; withdrawal of certification. - Nevada Statutes

616B.506  Imposition of administrative fine for violations; withdrawal of certification.  The Commissioner shall impose an administrative fine, not to exceed $1,000 for each violation, and may withdraw the certification of any third-party administrator who:

      1.  Fails to comply with regulations of the Commissioner regarding reports or other requirements necessary to carry out the purposes of chapters 616A to 616D, inclusive, or chapter 617 of NRS; or

      2.  Violates any provision of NRS 616B.503 or any regulation adopted by the Commissioner or the Administrator concerning the administration of the plan of insurance.

      (Added to NRS by 1991, 2393; A 1993, 711; 1999, 218)

      NRS 616B.509  Regulations.  The Commissioner may adopt any regulations that are necessary to carry out the provisions of NRS 616B.500, 616B.503 and 616B.506.

      (Added to NRS by 1991, 2393)—(Substituted in revision for NRS 616.304)