691C.350 - Approved rates; period of effectiveness; filing of revised schedule of premium rates.
691C.350 Approved rates; period of effectiveness; filing of revised schedule of premium rates. Except as otherwise provided in NRS 691C.340:
1. A rate that has been filed and approved pursuant to NRS 691C.320 is effective for a period not to exceed 3 years after the date of approval. The insurer shall file a rate for approval before the expiration of the 3-year period. The insurer may file a rate for approval at any time before the expiration of the 3-year period.
2. If an insurer revises its schedule of premium rates, the insurer shall file the revised schedule with the Commissioner pursuant to NRS 691C.320. An insurer shall not issue credit personal property insurance for which the premium rates exceed the rates determined by the schedule approved by the Commissioner.
(Added to NRS by 2005, 2111)