Nevada Revised Statutes 686A.085 – Bank prohibited from requiring customers to purchase insurance from parent, subsidiary or affiliate of bank
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A bank shall not in any manner extend credit, lease or sell property of any kind, or furnish any services, or fix or vary the consideration for any of them, on the condition or requirement that the customer purchase insurance from a parent, subsidiary or affiliate of the bank. For the purposes of this section, the terms ‘affiliate,’ ‘parent’ and ‘subsidiary’ have the meanings ascribed to them in NRS 683A.231.
Terms Used In Nevada Revised Statutes 686A.085
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC