Nev. Admin. Code § 616B.600 - Insolvency of association

If an association is deemed to be insolvent pursuant to NRS 616B.422, the Commissioner may:

1. Invoke the provisions of the indemnity agreement executed by each member of the association;

2. Use the security deposit of the association;

3. Use any solvency bonds deposited with him or her by or on behalf of the association; and

4. Use the Account for Insolvent Associations of Self-Insured Public or Private Employers,

to pay claims and related expenses.

Notes

Nev. Admin. Code § 616B.600

Added to NAC by Comm'r of Insurance, eff. 3-22-96; A by R139-99, 1-27-2000

NRS 616B.422, 616B.443, 616B.446, 679B.130