1. A licensed producer of insurance or insurer may solicit for and issue personal travel accident insurance policies by means of mechanical vending machines supervised by the producer and placed at airports and similar places of convenience to the traveling public, if the Commissioner finds that:
(a) The policy provides reasonable coverage and benefits, is suitable for sale and issuance by vending machine, and that use of such a machine in a proposed location would be of material convenience to the public;
(b) The type of machine proposed to be used is reasonably suitable for the purpose;
(c) Reasonable means are provided for informing prospective purchasers of policy coverages and restrictions;
(d) Reasonable means are provided for the refund of money inserted in defective machines and for which insurance so paid for is not received; and
(e) The cost of maintaining such a machine at a particular location is reasonable in amount.
2. For each machine to be used, the Commissioner shall issue to the producer upon the producer’s application a special vending machine license. The license is subject to annual continuation, to expiration, suspension or revocation coincidentally with that of the producer. The Commissioner shall also revoke the license of any machine as to which the Commissioner finds that the license qualifications no longer exist. Proof of the existence of a subsisting license must be displayed on or about each machine in use in such manner as the Commissioner reasonably requires.
(Added to NRS by 1971, 1652; A 2001, 2206)