NRS 691D.220 Employee or authorized representative of licensee authorized to sell or offer portable electronics insurance without license under certain circumstances; restrictions; compensation.

293 words·~1 min read·/nv/chapter-691d-portable-electronics-insurance/691d-220·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

1. Notwithstanding any other provision of law, an employee or authorized representative of a vendor that holds a license as a producer of insurance in portable electronics insurance issued by the Commissioner pursuant to NRS 683A.261 or 683A.271 may, without a license issued by the Commissioner, sell or offer coverage under a policy of portable electronics insurance at any location at which the vendor does business if:

(a)The employee or authorized representative of the vendor sells or offers coverage under a policy of portable electronics insurance only on behalf of, and under the supervision of, the vendor; and

(b)Before the employee or authorized representative of the vendor sells or offers coverage under a policy of portable electronics insurance, he or she completes a program of training provided by the vendor pursuant to NRS 691D.300 .

2. An employee or authorized representative of a vendor who sells or offers coverage under a policy of portable electronics insurance pursuant to this section shall not advertise, represent or otherwise hold himself or herself out as a licensed producer of insurance unless the person is licensed as a producer of insurance.

3. An employee or authorized representative of a vendor who offers to a customer coverage under a policy of portable electronics insurance pursuant to this section and enrolls the customer under the policy may receive from the vendor compensation that is:

(a)Incidental to the overall compensation received by the employee or authorized representative of the vendor; and

(b)Relating to the offering of the coverage and the enrolling of the customer under the policy of portable electronics insurance.

MISCELLANEOUS PROVISIONS