Administrative fines; suspension of privilege of vendor, employee or authorized representative to sell or offer portable electronics insurance; suspension or revocation of license.

If a vendor or an employee or authorized representative of a vendor violates any provision of this chapter or an order or regulation of the Commissioner issued or adopted pursuant thereto, the Commissioner may, after notice and an opportunity for a hearing: 1. Impose an administrative fine pursuant to NRS 683A.461 for each violation, which must not exceed $50,000 in the aggregate; 2. Suspend a vendor’s privilege of engaging in the sale or offering of coverage under a policy of portable electronics insurance at a particular location where the vendor does business; 3. Suspend or revoke the privilege of an employee or authorized representative of a vendor to sell or offer coverage under a policy of portable electronics insurance; or 4. Suspend or revoke the license issued by the Commissioner to the vendor as a licensed producer of insurance. (Added to NRS by 2011, 2027)