Nev. Admin. Code § 679B.858 - Form of opt-out notice to joint consumers; opt-out methods

1. If two or more consumers jointly obtain an insurance product or service from a licensee, the licensee may provide a single opt-out notice.

2. In addition to the requirements of NAC 679B.856, an opt-out notice provided by a licensee must explain how the licensee will treat an opt-out direction by a joint consumer.

3. Any joint consumer may exercise the right to opt out. The licensee may:

(a) Treat an opt-out direction by a joint consumer as applying to all the associated joint consumers; or

(b) Permit each joint consumer to opt out separately.

4. If a licensee permits each joint consumer to opt out separately, the licensee shall permit one of the joint consumers to opt out on behalf of all the joint consumers.

5. A licensee may not require all joint consumers to opt out before implementing any opt-out direction.

Notes

Nev. Admin. Code § 679B.858

Added to NAC by Comm'r of Insurance by R130-01, eff. 12-17-2002

NRS 679B.130, 686A.025