NRS 691C.250
Credit personal property insurance sold in conjunction with closed-end credit transaction

  • insurer prohibited from issuing or selling certain insurance.
For credit personal property insurance sold in conjunction with a closed-end credit transaction, an insurer shall not:

1.

Issue credit personal property insurance unless the amount financed exceeds $300;

2.

Issue credit personal property insurance in an amount that exceeds the amount of the underlying credit transaction; and

3.

Sell credit personal property insurance with a term that exceeds the scheduled term of the underlying credit transaction.

Source: Section 691C.250 — Credit personal property insurance sold in conjunction with closed-end credit transaction; insurer prohibited from issuing or selling certain insurance., https://www.­leg.­state.­nv.­us/NRS/NRS-691C.­html#NRS691CSec250.

691C.010
Definitions. 691C.020
“Closed-end credit” defined. 691C.030
“Collateral” defined. 691C.040
“Compensation” defined. 691C.050
“Credit agreement” defined. 691C.060
“Credit personal property insurance” defined. 691C.070
“Credit transaction” defined. 691C.080
“Creditor” defined. 691C.090
“Creditor-placed insurance” defined. 691C.100
“Debtor” defined. 691C.110
“Dual-interest insurance” defined. 691C.120
“Experience” defined. 691C.130
“Experience period” defined. 691C.140
“Finance charge” defined. 691C.150
“Gross debt” defined. 691C.160
“Identifiable charge” defined. 691C.170
“Incurred losses” defined. 691C.180
“Loss ratio” defined. 691C.190
“Net debt” defined. 691C.200
“Nonfiling insurance” defined. 691C.210
“Open-end credit” defined. 691C.220
“Reverse competition” defined. 691C.230
“Single-interest insurance” defined. 691C.240
Scope. 691C.250
Credit personal property insurance sold in conjunction with closed-end credit transaction 691C.260
Coverage. 691C.270
Insurer prohibited from requiring other credit insurance coverage with credit personal property insurance 691C.280
Required disclosures. 691C.290
Offer to extend coverage. 691C.300
Individual policy or certificate of insurance: Contents 691C.310
Delivery of individual policy or certificate of insurance. 691C.320
Policies, forms and schedules: Filing 691C.330
Adoption of forms by regulation 691C.340
Use of certain rates without filing rates with Commissioner 691C.350
Approved rates 691C.360
Open-end credit transactions. 691C.370
Report of credit personal property insurance. 691C.380
Transfers to unauthorized insurer. 691C.390
Refund of unearned premiums upon cancellation 691C.400
Claims. 691C.410
Settlement or adjustment of claims. 691C.420
Debtor ineligible for coverage 691C.430
Regulations. 691C.440
Administrative fines
Last Updated

Feb. 5, 2021

§ 691C.250’s source at nv​.us