usion, reduction or limitation. The insurer must also disclose to the named insured upon renewal any additional motor vehicle coverages that the insurer sells. These disclosures must be written in a form easily understood and printed in at least 12-point type. (Added to NRS by 1989, 1851) NRS 687B.150 Inclusion of portion of charter or bylaws. 1. No policy shall contain any provision purporting to make any portion of the charter, bylaws or other constituent document of the insurer (other than the subscriber’s agreement or power of attorney of a reciprocal insurer) a part of the contract unless such portion is set forth in full in the policy. 2. Any policy provision in violation of this section is invalid. (Added to NRS by 1971, 1718) NRS 687B.160 Execution of policies. 1. Every insurance policy must be executed in the name of and on behalf of the insurer by its officer, attorney-in-fact, employee or representative duly authorized by the insurer. 2. Any such executing individual may use, in lieu of an original signature: (a) A facsimile signature; or (b) An electronic signature pursuant to the provisions of chapter 719 of NRS. 3. An insurance contract issued before, on or after January 1, 1972, which is otherwise valid is not rendered invalid by reason of the apparent execution thereof on behalf of the insurer by the imprinted facsimile signature of an individual not authorized so to execute as of the date of the policy. (Added to NRS by 1971, 1718; A 1997, 1625; 2003, 2806) NRS 687B.170 Underwriters’ and combination policies. 1. Two or more authorized insurers may jointly issue, and shall be jointly and severally liable on, an underwriters’ policy bearing their names. Any one insurer may issue policies in the name of an underwriter’s department and such policy shall plainly show the true name of the insurer. 2. Two or more insurers may, with the approval of the Commissioner, issue a combination policy which shall contain provisions substantially as follows: (a) That the insurers executing the policy shall be severally liable for the full amount of any loss or damage, according to the terms of the policy, or for specified percentages or amounts thereof, aggregating the full amount of insurance under the policy; and (b) That service of process, or of any notice or proof of loss required by such policy, upon any of the insurers executing the policy, shall constitute service upon all such insurers. 3. This section does not apply to cosurety obligations. (Added to NRS by 1971, 1719) NRS 687B.180 Validity and construction of noncomplying forms. 1. A policy delivered or issued for delivery after January 1, 1972, to any person in this state in violation of this Code but otherwise binding on the insurer, shall be held valid, but shall be construed as provided in this Code. 2. Any condition, omission or provision not in compliance with the requirements of this Code and contained in any policy, rider or endorsement issued after January 1, 1972, and otherwise valid shall not thereby be rendered invalid but shall be construed and applied in accordance with such condition, omission or provision as would have applied had the same been in full compliance with this Code. (Added to NRS by 1971, 1719) NRS 687B.182 Binders: Issuance; effective dates. 1. A binder may be issued only by a resident or nonresident agent appointed by the insurer which is to issue the policy. 2. Except as provided in subsection 3, a binder must not be effective for more than 90 days. 3. The effective period of a binder may be extended 30 days at a time with the written approval of the Commissioner. (Added to NRS by 1983, 1120) NRS 687B.183 Binders: Forms; required statement; delivery. 1. All written binders must be made on forms approved by the Commissioner. 2. A binder related to a policy of insurance which provides coverage of less than $1,000,000 must contain a statement printed in at least 10-point bold type that any person who refuses to accept the binder as proof of insurance pursuant to the provisions of NRS 687B.186 is subject to the penalties provided in that section. 3. If a binder is in writing, one copy must be delivered either in person or by mailing first class to: (a) The insured; and (b) The insurer providing coverage under the binder, within 24 hours after the binder becomes effective. (Added to NRS by 1983, 1120; A 1985, 1161) NRS 687B.184 Binders: Form and premium for policy issued as replacement. 1. A policy which is issued to replace a binder must include: (a) Limits of coverage which are equal to the limits stated in the binder; and (b) An effective date for the policy which is the same as the effective date of the initial binder. 2. The premium for such a policy must include the charge for the period covered by the binder and that charge must be in accordance with rates filed with the Commissioner pursuant to chapter 686B of NRS. (Added to NRS by 1983, 1120) NRS 687B.185 Binders: Prohibition of use to lower premiums. An insurer may not use a binder as a means to lower a premium which an insured is charged. (Added to NRS by 1983, 1121) NRS 687B.186 Binders: Proof of insurance coverage. 1. A binder which is issued in accordance with NRS 687B.182 to 687B.187, inclusive, shall be deemed a policy for the purpose of proving that a person has insurance coverage. 2. Any party to a contract or other agreement who refuses to accept such a binder as proof of insurance when that proof is required by that contract or agreement: (a) Shall be fined not more than $500. (b) Is liable to the party presenting the binder as proof of insurance for actual damages sustained therefrom. 3. The provisions of this section do not apply to a binder related to a policy of insurance which provides coverage of at least $1,000,000. (Added to NRS by 1983, 1121; A 1985, 1161) NRS 687B.187 Binders: Disapproval of insurer. NRS 687B.182 to 687B.187, inclusive, do not prevent the exercise of a right to disapprove of the insurer or its representative on the basis of: 1. The adequacy and terms of the coverage with respect to the interest of the vendor, lender, lessor or other person providing a service to the insured; 2. The financial standards to be met by the insurer; or 3. The ability of the insurer or its representative to service the policy. (Added to NRS by 1983, 1120) NRS 687B.190 Delivery of policy. 1. If the original policy is delivered or is so required to be delivered to or for deposit with any vendor, mortgagee or pledgee of any motor vehicle, in which policy any interest of the vendee, mortgagor or pledgor in or with reference to such vehicle is insured, a duplicate of such policy setting forth the name and address of the insurer, insurance classification of vehicle, type of coverage, limits of liability, premiums for the respective coverages and duration of the policy, or memorandum thereof containing the same such information, shall be delivered by the vendor, mortgagee or pledgee to each such vendee, mortgagor or pledgor named in the policy or coming within the group of persons designated in the policy to be so included. If the policy does not provide coverage of legal liability for injury to persons or damage to the property of third parties, a statement of such fact shall be printed, written or stamped conspicuously on the face of such duplicate policy or memorandum. 2. This section does not apply to inland marine floater policies. (Added to NRS by 1971, 1719) NRS 687B.200 Assignability. 1. The purpose of this section is to confirm and clarify the right to provide for an assignment by which a pers

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