Nevada 2023 Regular Session

Nevada Senate Bill SB436 Compare Versions

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Old	New	Differences
1	1
2	2
3	3	- 82nd Session (2023)
4	4	Senate Bill No. 436–Committee on Commerce and Labor
5	5
6	6	CHAPTER..........
7	7
8	8	AN ACT relating to insurance; requiring the Commissioner of
9	9	Insurance to submit to the Joint Interim Standing Committee
10	10	on Commerce and Labor a report concerning the service
11	11	contract provider industry in this State; and providing other
12	12	matters properly relating thereto.
13	13	Legislative Counsel’s Digest:
14	14	Existing law provides for the regulation of providers of service contracts by the
15	15	Commissioner of Insurance. (Chapter 690C of NRS) Existing law defines a service
16	16	contract as a contract pursuant to which a provider, in exchange for separately
17	17	stated consideration, is obligated for a specified period to a holder to repair, replace
18	18	or perform maintenance on, or indemnify or reimburse the holder for the costs of
19	19	repairing, replacing or performing maintenance on, goods that are described in the
20	20	service contract and which have an operational or structural failure as a result of a
21	21	defect in materials, workmanship or normal wear and tear. Types of service
22	22	contracts include contracts that: (1) pay reimbursement for towing, rental and
23	23	emergency road service; and (2) provide for the repair, replacement or maintenance
24	24	of goods for damages that result from power surges or accidental damage from
25	25	handling. (NRS 690C.080) Existing law authorizes the Commissioner to assess a
26	26	civil penalty against a provider who fails to comply with existing law or who
27	27	violates an order or regulation of the Commissioner. (NRS 690C.330)
28	28	This bill requires the Commissioner of Insurance to submit to the Joint Interim
29	29	Standing Committee on Commerce and Labor an annual report that provides certain
30	30	information concerning the service contract industry in this State.
31	31
32	32	EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted.
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34	34
35	35	THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN
36	36	SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
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38	38	Section 1. Chapter 690C of NRS is hereby amended by adding
39	39	thereto the provisions set forth as sections 1.5 and 2 of this act.
40	40	Sec. 1.5. (Deleted by amendment.)
41	41	Sec. 2. 1. On or before March 31, 2024, and on or before
42	42	March 31 of each year thereafter, the Commissioner shall submit
43	43	a report to the Joint Interim Standing Committee on Commerce
44	44	and Labor concerning the service contract industry in this State.
45	45	2. The report must include, without limitation:
46	46	(a) For each report other than the initial report, the number of
47	47	service contracts sold by providers, by county, during the calendar
48	48	year for which the report is made;
49	49	(b) The number of providers doing business in this State;
50	50	(c) The number of providers, by the type of service contract
51	51	provided;
52	52	– 2 –
53	53
54	54
55	55	- 82nd Session (2023)
56	56	(d) The number of complaints concerning providers received
57	57	by the Division, by type of complaint and information concerning
58	58	the resolution of such complaints; and
59	59	(e) Any other matter relating to the service contract industry in
60	60	this State that the Commissioner deems appropriate.
61	61	3. To the extent reasonably practicable, the information
62	62	specified in paragraph (a) of subsection 2 must be disaggregated
63	63	in the report.
64	64	4. As used in this section:
65	65	(a) “Provider” has the meaning ascribed to it in
66	66	NRS 690C.070.
67	67	(b) “Service contract” has the meaning ascribed to it in
68	68	NRS 690C.080.
69	69	Sec. 3. The provisions of subsection 1 of NRS 218D.380 do
70	70	not apply to any provision of this act which adds or revises a
71	71	requirement to submit a report to the Legislature.
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