697.240 - Appointment of bail agents.
697.240 Appointment of bail agents.
1. Each insurer appointing a bail agent shall file with the Commissioner a written appointment and pay the applicable fee for the appointment.
2. Each appointment remains in effect until the bail agent’s license is revoked or otherwise terminated, or there is an earlier termination of the appointment.
3. No insurer may appoint a bail agent whose contingent liability exceeds an amount equal to 10 times his or her reserve account unless the appointment is first approved by the Commissioner.
(Added to NRS by 1971, 1912; A 1979, 1402; 1981, 1811)