NRS692A.120. Rate schedules, schedules of charges and forms: Filing; approval by Commissioner.

      1.  Each title insurer shall file with the Commissioner all rate schedules, schedules of charges and all forms, including:

      (a) Preliminary reports of title.

      (b) Binders for insurance and commitments to insure.

      (c) Letters of indemnity.

      (d) Policies of insurance or guaranty.

      (e) Terms and conditions of insurance coverage or guarantee which relate to title to any interest in property.

      2.  A title insurer need not file:

      (a) Reinsurance contracts and agreements.

      (b) Closing protection letters.

      (c) Specific defects in title which may be ascertained from an examination of the risk and excepted in reports, binders, commitments or policies, or any affirmative assurances of the title insurer with respect to those defects, whether given by endorsement or otherwise.

      (d) Specific exceptions from coverage by reason of limitations upon the examination of the risk imposed by the applicant for insurance or through failure of the applicant to provide data requisite to a judgment of insurability.

      3.  Unless the Commissioner disapproves a form or schedule within 30 days after it is filed in the Office of the Commissioner, the form or schedule is approved.

      4.  No form or schedule may be used until it is approved by the Commissioner.

      5.  No title insurer or title agent may make or impose any charge for premium, escrow, settlement or closing services when performed in connection with the issue of a title insurance policy except in accordance with the schedule of charges filed with the Commissioner as required by this section.

      6.  A title insurer or title agent shall not charge a fee for any statement or tax return regarding payments of interest which federal law requires the insurer or agent to furnish and file.

      7.  As used in this section, “closing protection letter” means a letter issued as described in NRS 692A.225.

      (Added to NRS by 1977, 979; A 1989, 1067; 1993, 2335; 2013, 817)