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Nevada Revised Statutes Title 57. Insurance § 683C.040. Renewal of license; fees; expiration; reinstatement; contents of license; change of address

Current as of January 01, 2025 | Updated by Findlaw Staff

<See notes for changes to this section effective under certain conditions.>

1. A license may be renewed for additional 3-year periods by submitting to the Commissioner an application for renewal and:

(a) If the application is made:

(1) On or before the renewal date of the license, all applicable renewal fees; or

(2) Not more than 30 days after the renewal date of the license, all applicable renewal fees plus a penalty of 50 percent of all applicable renewal fees except for any fee required pursuant to NRS 680C.110;

(b) If the applicant is a natural person, the statement required pursuant to NRS 683C.043; and

(c) If the applicant is a resident, proof of the successful completion of appropriate courses of study required for renewal, as established by the Commissioner by regulation.

2. Except as otherwise provided in subsection 5, a license as an insurance consultant expires if the Commissioner does not receive from the insurance consultant an application for renewal pursuant to subsection 1 on or before the date which is 30 days after the renewal date.

3. The fees specified in this section are not refundable.

4. A natural person who allows his or her license as an insurance consultant to expire pursuant to subsection 2 may, within 12 months after the renewal date, reinstate the license without passing a written examination if the natural person:

(a) Completes all applicable continuing education requirements; and

(b) Pays a penalty of twice all applicable fees for renewal, except for any fee required pursuant to NRS 680C.110.

5. An insurance consultant who is unable to renew his or her license because of military service, extended medical disability or other extenuating circumstance may request a waiver of the time limit and of any fine or sanction otherwise required or imposed because of the failure to renew.

6. A license must state the licensee's name, address, personal identification number, the date of issuance, the lines of authority and the date of expiration and must contain any other information the Commissioner considers necessary. The license must be made available for public inspection upon request.

7. A licensee shall inform the Commissioner of each change of business, residence or electronic mail address, in writing or by other means acceptable to the Commissioner, within 30 days after the change.

8. As used in this section, “renewal date” means:

(a) For the first renewal of the license, the last day of the month which is 3 years after the month in which the Commissioner originally issued the license.

(b) For each renewal after the first renewal of the license, the last day of the month which is 3 years after the month in which the license was last due to be renewed.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 57. Insurance § 683C.040. Renewal of license; fees; expiration; reinstatement; contents of license; change of address - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-57-insurance/nv-rev-st-683c-040/

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