688C.214 - Action against producer of life insurance for acting in bad faith. - Nevada Statutes

688C.214  Action against producer of life insurance for acting in bad faith.

      1.  If the Commissioner finds that a producer of life insurance has violated a provision of this chapter or other applicable provisions or has acted in bad faith with regard to a viator, the Commissioner may:

      (a) Refuse to:

             (1) Issue a license to the producer of life insurance; or

             (2) Renew a license of the producer of life insurance;

      (b) Suspend the producer of life insurance for a period not to exceed 12 months; or

      (c) Place the producer of life insurance on probation.

      2.  If the Commissioner takes action as described in paragraph (a), (b) or (c) of subsection 1, the producer of life insurance may apply in writing for a hearing before the Commissioner to determine the reasonableness of the action taken by the Commissioner, pursuant to the provisions of NRS 679B.310 to 679B.370, inclusive.

      (Added to NRS by 2009, 1790)