Nevada Revised Statutes 679B.185 – Administrative fine for willfully engaging in unauthorized transaction of insurance: Limitation; enforcement
1. If any person willfully engages in the unauthorized transaction of insurance, the Commissioner may impose an administrative fine of not more than $10,000 for each act or violation.
Terms Used In Nevada Revised Statutes 679B.185
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
- Statute: A law passed by a legislature.
2. An administrative fine imposed pursuant to this section is in addition to any other administrative fine or penalty provided for in this title, except a fine or penalty imposed pursuant to NRS 686A.183, 686A.187, 696B.500 or 696B.520.
3. If the administrative fine is not paid when due, the fine must be recovered in a civil action brought by the Attorney General on behalf of the Commissioner.
4. Except as otherwise provided by specific statute, the Commissioner shall commence a proceeding to impose an administrative fine pursuant to subsection 1 not later than 5 years after the date on which the act or violation occurred.