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Nevada Revised Statutes Title 57. Insurance § 690D.150. Restrictions on business name of creditor;  exception

Current as of January 01, 2021 | Updated by FindLaw Staff

1. Except as otherwise provided in this section, a creditor who sells or offers for sale guaranteed asset protection waivers shall not include in the name of the business of the creditor:

(a) The words “insurance,” “casualty,” “surety,” “mutual” or any other word or term that implies that the creditor is engaged in the business of transacting insurance or is a surety company;  or

(b) A name that is deceptively similar to the name or description of an insurer or surety company.

2. A creditor may include the word “guaranty” or a similar word in the name of the business of the creditor.

3. This section does not apply to a creditor who, before January 1, 2016, includes in the name of the business of the creditor a name that does not comply with the provisions of subsection 1.  Such a creditor shall include in each guaranteed asset protection waiver the creditor sells or offers for sale a statement that the guaranteed asset protection waiver is not a contract of insurance.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 57. Insurance § 690D.150. Restrictions on business name of creditor;  exception - last updated January 01, 2021 | https://codes.findlaw.com/nv/title-57-insurance/nv-rev-st-690d-150/

Read this complete Nevada Revised Statutes Title 57. Insurance § 690D.150. Restrictions on business name of creditor;  exception on Westlaw

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

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