679B.185 - Administrative fine for willfully engaging in unauthorized transaction of insurance: Limitation; enforcement. - Nevada Statutes

679B.185  Administrative fine for willfully engaging in unauthorized transaction of insurance: Limitation; enforcement.

      1.  If any person willfully engages in the unauthorized transaction of insurance, the Commissioner may impose an administrative fine of not more than $10,000 for each act or violation.

      2.  An administrative fine imposed pursuant to this section is in addition to any other administrative fine or penalty provided for in this title, except a fine or penalty imposed pursuant to NRS 686A.183, 686A.187, 696B.500 or 696B.520.

      3.  If the administrative fine is not paid when due, the fine must be recovered in a civil action brought by the Attorney General on behalf of the Commissioner.

      4.  Except as otherwise provided by specific statute, the Commissioner shall commence a proceeding to impose an administrative fine pursuant to subsection 1 not later than 5 years after the date on which the act or violation occurred.

      (Added to NRS by 1993, 2381; A 1997, 3017)