All contracts of surety insurance covering subjects located or to be performed in this state are subject to the applicable provisions of chapter 687B of NRS (the insurance contract), and to other applicable provisions of this Code. (Added to NRS by 1971, 1779)
1. Whenever a bond, undertaking, recognizance, guaranty or other obligation is required, permitted, authorized or allowed, or whenever the performance of any act, duty or obligation, or forbearance is required, permitted, authorized or allowed to be secured or guaranteed, such bond, undertaking, recognizance or other obligation, or such security or guaranty, may be executed by […]
Any insurer which executes any surety contract as surety shall be estopped, in any proceeding to enforce the liability which it has assumed to incur, to deny its power to execute such contract or assume such liability. (Added to NRS by 1971, 1780)