Nevada Revised Statutes Section 694A.080 - Insurance

Regulations; classification of insurers and securities; acts done or omitted in good faith.

1. The Commissioner shall have the power to make such rules and regulations as may be necessary for the execution of the functions vested in him by NRS 694A.010 to 694A.070, inclusive, and may for such purpose classify domestic stock insurers, securities and other persons or matters within his jurisdiction.

2. No provision of NRS 694A.020, 694A.030 and 694A.040 imposing any liability shall apply to any act done or omitted in good faith in conformity with any rule or regulation of the Commissioner, notwithstanding that such rule or regulation may, after such act or omission, be amended or rescinded or determined by judicial or other authority to be invalid for any reason.

Last modified: February 27, 2006