{"data":{"id":"us-nv/nrs-681a.470","jurisdiction":"us-nv","citation":"NRS 681A.470","heading":"Brokers: Maintenance of records of transactions; access to accounts and records by insurer.","body":"1. For 10 years after expiration of each contract of reinsurance transacted by the broker for reinsurance, he or she shall keep a complete record for each transaction, including evidence of:\n(a) The type of contract, limits, underwriting restrictions, classes or risks and territory;\n(b) The period of coverage, including effective and expiration dates and the provisions concerning cancellation and notice of cancellation;\n(c) The requirements for reporting and settling balances;\n(d) The rate used to compute the reinsurance premium;\n(e) The names and addresses of assuming reinsurers;\n(f) The rates of all commissions for reinsurance, including the commissions on any retrocessions handled by the broker for reinsurance;\n(g) Any related correspondence and memoranda;\n(h) Proof of placement;\n(i) Details regarding retrocessions handled by the broker for reinsurance, including the identity of retrocessionaires and the percentage of each contract assumed or ceded;\n(j) Financial records, including accounts of premium and loss; and\n(k) If the broker for reinsurance procures a contract of reinsurance on behalf of a licensed ceding insurer:\n(1) Directly from any assuming reinsurer, written evidence that the assuming reinsurer has agreed to assume the risk; or\n(2) Through a representative of the assuming reinsurer, other than an employee, written evidence that the reinsurer has delegated binding authority to the representative.\n2. A broker for reinsurance shall allow an insurer to have access to and to copy and audit all accounts and records maintained by him or her related to its contract.","path":["TITLE 57 — INSURANCE","CHAPTER 681A - KINDS OF INSURANCE; LIMITS ON RISK; REINSURANCE","REINSURANCE","Brokers and Managers"],"source_url":"https://www.leg.state.nv.us/NRS/NRS-681A.html#NRS681ASec470","current_through":"2025 session (NRS as revised 2026-08-25)","vintage":"","retrieved_at":"2026-09-03T05:51:46Z","sha256":"76ceeef166dfcab34bd4f3831f81c6821573132ec8887d3a267a6b4d7b79b92b","source_id":"us-nv","stale":true,"prev":"us-nv/nrs-681a.460","next":"us-nv/nrs-681a.480"},"notice":"GroundRules: Original legal text. Not legal advice."}