NRS 683A.187
Billing, collecting and remitting charges

compensation for licensee
money held in trust.

1.

If a customer purchases personal property storage insurance from the licensee, the licensee may bill and collect the charges for the personal property storage insurance.

2.

A licensee which bills and collects charges for personal property storage insurance coverage on behalf of an insurer is not required to maintain such money in a segregated account if the licensee:

(a)

Is authorized by the insurer to hold such money in an alternative manner; and

(b)

Remits such amounts to the supervising entity within 60 days after receipt.

3.

A licensee may receive compensation from a supervising entity for sales, billing and collection services. Such compensation may be dependent on the sale of the types of coverage described in NRS 683A.181 to 683A.189, inclusive.

Ê All money collected by a licensee from an enrolled customer for the sale of personal property storage insurance shall be deemed to be held in trust by the licensee in a fiduciary capacity for the benefit of the insurer, and the insurer shall be deemed to have received the premium from the enrolled customer upon payment of the premium by the enrolled customer to the licensee.

Source: Section 683A.187 — Billing, collecting and remitting charges; compensation for licensee; money held in trust., https://www.leg.state.nv.us/NRS/NRS-683A.html#NRS683ASec187.

683A.181
Definitions. 683A.182
“Occupant” defined. 683A.183
“Rental agreement” defined. 683A.184
Commissioner: Forms for application for initial licensure and renewal 683A.185
Examination or education not required to receive or renew license. 683A.186
Certain written or electronic materials required to be made available to occupant or prospective occupant. 683A.187
Billing, collecting and remitting charges 683A.188
Licensee required to provide training program for employees and authorized representatives. 683A.189
Responsibility and duties of supervising entity relating to licensee, employees and authorized representatives. 683A.1815
“Facility” defined. 683A.1823
“Owner” defined. 683A.1826
“Personal property” defined. 683A.1828
“Personal property storage insurance” defined. 683A.1835
“Storage space” defined. 683A.1837
“Supervising entity” defined. 683A.1845
License to offer, sell, solicit or negotiate personal property storage insurance: Issuance by Commissioner 683A.1855
Restrictions relating to sales and coverage 683A.1865
Satisfaction of insurance requirement by occupant or prospective occupant as condition of rental agreement. 683A.1875
Employee or authorized representative may act for licensee. 683A.1885
Restriction relating to advertising and representations by licensee.

Last Updated

Feb. 5, 2021

§ 683A.187’s source at nv.us

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Location: https://nevada.public.law/statutes/nrs_683a.187

Original Source: Section 683A.187 — Billing, collecting and remitting charges; compensation for licensee; money held in trust., https://www.leg.state.nv.us/NRS/NRS-683A.html#NRS683ASec187 (last accessed Feb. 5, 2021).