1. The provisions of chapters 683A and 685A of NRS apply to any person acting, or offering to act, as an agent or broker for:
(a) A purchasing group;
(b) A member of a purchasing group under the group policy; or
(c) A risk retention group transacting insurance in this State.
2. Except as otherwise provided in this chapter, the provisions of chapter 679B of NRS apply to purchasing groups and risk retention groups, and to the provisions of this chapter, to the extent that the provisions of chapter 679B of NRS are not specifically preempted by the Product Liability Risk Retention Act of 1981, as amended by the Risk Retention Amendments of 1986.
3. A risk retention group that violates any provision of this chapter is subject to the fines and penalties, including revocation of its right to do business in this state, applicable to licensed insurers under this title.
(Added to NRS by 1987, 1333; A 1995, 1784; 2019, 1721)
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