NRS 688C.215 License to operate as investment agent or broker of viatical settlements not required for certain producers of insurance; registration with Division and compliance with certain provisions required; fee; penalty.
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NRS 688C.215 License to operate as investment agent or broker of viatical settlements not required for certain producers of insurance; registration with Division and compliance with certain provisions required; fee; penalty.
1. A natural person who has been licensed for at least 1 year and who is in good standing as a resident or nonresident producer of insurance with a life insurance qualification is not required to be licensed as an investment agent or a broker of viatical settlements.
2. A licensed producer of insurance specified in subsection 1 must register with the Division not more than 30 days after first operating as an investment agent or a broker of viatical settlements, on a form prescribed by the Commissioner, and pay the fee for registration pursuant to NRS 680B.010 . Failure to register within the required period or late payment of or failure to pay the fee may result in the imposition of an administrative fine of not more than $500.
3. A producer of insurance who acts as an investment agent or a broker of viatical settlements pursuant to subsection 1 shall comply with the provisions of NRS 688C.220 to 688C.250 , inclusive, and 688C.310 .