694A.080 - Regulations; classification of insurers and securities; acts done or omitted in good faith. - Nevada Statutes

694A.080  Regulations; classification of insurers and securities; acts done or omitted in good faith.

      1.  The Commissioner shall have the power to make such rules and regulations as may be necessary for the execution of the functions vested in the Commissioner by NRS 694A.010 to 694A.070, inclusive, and may for such purpose classify domestic stock insurers, securities and other persons or matters within the jurisdiction of the Commissioner.

      2.  No provision of NRS 694A.020, 694A.030 and 694A.040 imposing any liability shall apply to any act done or omitted in good faith in conformity with any rule or regulation of the Commissioner, notwithstanding that such rule or regulation may, after such act or omission, be amended or rescinded or determined by judicial or other authority to be invalid for any reason.

      (Added to NRS by 1971, 1826)