NAC485.075. Guarantee of indemnification.

Latest version.

     1. The Department may, before issuing a certificate of self-insurance to an applicant, require a guarantee of indemnification:

     (a) From the parent corporation, if the applicant is a subsidiary or affiliate of a corporation;

     (b) From any partner, if the applicant is a partnership; or

     (c) From the owner, if the applicant is a sole proprietorship.

     2. Entities making a joint application for a certificate of self-insurance pursuant to NAC 485.060 must enter into an indemnity agreement jointly and severally binding each entity for all liability arising from the operation of each motor vehicle that is self-insured pursuant to the certificate.

(Added to NAC by Dep’t of Motor Veh. by R164-03, eff. 10-31-2005)

                    
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