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)