1.  The Commissioner shall have the power to make such rules and regulations as may be necessary for the execution of the functions vested in the Commissioner by NRS 694A.010 to 694A.070, inclusive, and may for such purpose classify domestic stock insurers, securities and other persons or matters within the jurisdiction of the Commissioner.

Terms Used In Nevada Revised Statutes 694A.080

  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.

2.  No provision of NRS 694A.020, 694A.030 and 694A.040 imposing any liability shall apply to any act done or omitted in good faith in conformity with any rule or regulation of the Commissioner, notwithstanding that such rule or regulation may, after such act or omission, be amended or rescinded or determined by judicial or other authority to be invalid for any reason.

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