681B.260 - Life insurance: Confidentiality of material provided by insurer to Commissioner. - Nevada Statutes

681B.260  Life insurance: Confidentiality of material provided by insurer to Commissioner.

      1.  Except as otherwise provided in this section and NRS 239.0115, an opinion, and any other material provided by an insurer to the Commissioner in connection therewith, must be kept confidential by the Commissioner, is not open to the public, and is not subject to subpoena, except for the purpose of defending an action seeking damages from any person by reason of any action required by NRS 681B.200 to 681B.260, inclusive, or by regulation adopted under those sections.

      2.  A memorandum or other material may be released by the Commissioner with the written consent of the insurer or to the American Academy of Actuaries or its successor organization upon request stating that the memorandum or other material is required for the purpose of professional disciplinary proceedings and setting forth procedures satisfactory to the Commissioner for preserving the confidentiality of the memorandum or other material.

      3.  If any portion of a confidential memorandum is cited by the insurer in its marketing or is cited before any governmental agency other than a state commissioner of insurance or is released by an insurer to the public, all portions of the memorandum are no longer confidential.

      (Added to NRS by 1995, 1769; A 2007, 2156)