Nevada Administrative Code Chapter 692A - Title Insurance
Here’s a structured summary of Nevada Administrative Code (NAC) Chapter 692A – Title Insurance, based on official provisions:
📘 1. Scope & Definitions
§ 692A.010 Definitions: Establishes terminology used throughout the chapter (e.g., “title agent,” “escrow officer”) (law.cornell.edu).
§ 692A.020 clarifies what does not constitute solicitation or contract negotiation regarding title insurance (law.cornell.edu).
🧾 2. Licensing & Qualifications
Section
Key Points
§ 692A.030
Procedures for applying for a license as a title agent (leg.state.nv.us)
§ 692A.040
Qualification criteria for title agents (e.g. character, experience)
§ 692A.055
Requires at least one year of recent title insurance experience to qualify
§ 692A.060
Similar experience requirement for escrow officers
§ 692A.070
Requires visible display of license at place of business
§ 692A.080
Title insurers must appoint a licensed title agent to supervise each office; permits further appointments under certain conditions
§ 692A.090–100
Process for filing and terminating appointments of agents and escrow officers
🛡️ 3. Certification & Supervision
§ 692A.110: Every January 1, licensed title firms or insurers must certify current title agents, escrow officers, and non‑clerical employees to the Commissioner (law.cornell.edu).
§ 692A.115: Title agents or escrow officers must be certified before issuing policies or disbursing escrow funds (content.naic.org).
§ 692A.120–160: Details supervisory responsibilities:
Must designate a licensed supervisor present or readily available (regulations.justia.com)
Provide written instructions, policies, training and maintain records (regulations.justia.com)
Prohibit issuance of policies or escrow disbursements by un‑certified personnel (regulations.justia.com)
📝 4. Records & Escrow Handling
Title agents, insurers, and escrow officers must keep detailed operational records, maintain separate escrow accounts, and segregate client funds (leg.state.nv.us).
⚖️ 5. Disciplinary Grounds
§ 692A.160: Penalties may be imposed for failure to provide adequate supervision, training, or certification as required (regulations.justia.com).
✅ 6. Practical Notes
Certifications due: Annually by January 1.
Supervision: Supervisors must be licensed, present or available whenever operations are open.
Experience: At least 1 year of relevant experience required for licensing both title agents and escrow officers.
Escrow rules: Funds must be held separately in trust and disbursements regulated.
🔗 Relationship with NRS
The NAC rules implement statutory authority given in NRS Chapter 692A, which defines licensing, escrow handling, bonding, reserves, fees, and disciplinary powers (doi.nv.gov, law.justia.com, nevada.public.law).
🛠️ Why This Matters
Compliance ensures legally authorized operations in title insurance, reduces risk of penalties or suspensions, and solidifies consumer protection around escrow integrity and agent accountability.
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