Credit personal property insurance sold in conjunction with closed-end credit transaction: Insurer prohibited from issuing or selling certain insurance.

For credit personal property insurance sold in conjunction with a closed-end credit transaction, an insurer shall not: 1. Issue credit personal property insurance unless the amount financed exceeds $300; 2. Issue credit personal property insurance in an amount that exceeds the amount of the underlying credit transaction; and 3. Sell credit personal property insurance with a term that exceeds the scheduled term of the underlying credit transaction. (Added to NRS by 2005, 2108)