Nev. Admin. Code § 697.510 - Cash accounts

Subject to any contract to the contrary with a surety, a licensee may maintain cash collateral in an interest-bearing account with a bank, savings and loan association, thrift company or similar institution in this state, and may retain the interest earned on that money if:

1. All such deposits are maintained separate from any other funds, except cash collateral funds;
2. All such deposits are returned to the person who posted the money with the licensee promptly upon the termination of the liability for which the money was posted as security; and
3. Any penalty or loss of interest for early withdrawal of collateral deposits is the responsibility of the licensee.


Nev. Admin. Code § 697.510
Comm'r of Insurance, M-8 § XXVII, eff. 11-22-78

NRS 679B.130

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