1. An association that purchases an annuity
to satisfy the payment of a claim that is filed with the association pursuant
to chapters 616A to 617, inclusive, of NRS may submit a claim for reimbursement
from the Account in accordance with NAC
616B.779, inclusive, and
sections 2 to 14, inclusive .
The association may submit, as provided in subsection 3, a claim for
reimbursement for the amount of compensation that the annuity paid to the
injured employee for whom the annuity was purchased.
3. The association may submit a claim for
reimbursement annually on the anniversary date of the purchase of the annuity
or more frequently with good cause shown.
The Board will not approve or pay a claim
for reimbursement for the cost of an annuity submitted pursuant to this section
Any amounts which exceed the lesser
(1) The price of the annuity; or
(2) The aggregate amount of compensation that
the injured employee has been paid from the annuity;
(b) Attorney's fees relating to the purchase
of the annuity; or
administrative expenses or other expenses relating to the purchase of the
annuity, including, without limitation, expenses for the copying of
5. As used in
this section, "good cause" includes, without limitation, a financial exigency
or extraordinary circumstance.