NAC485.100. Duration of security; affidavit and administration of claims.

     1. The security deposited under NAC 485.090 must be maintained for as long as the self-insurer holds or desires to hold a certificate of self-insurance in this State.

     2. At the time of the relinquishment of the certificate of self-insurance, the self-insurer shall submit a properly executed affidavit to the Department indicating all outstanding claims against the self-insurer by listing all claimants and the amount of each claim. The self-insurer shall administer all such claims.

     3. The security must remain on file for a period of 3 1/2 years after the self-insurer no longer desires to hold a certificate of self-insurance or the number of vehicles actively registered in this State in the name of the self-insurer drops below 11, or until the Director is satisfied that all outstanding claims have been adjudicated and paid.

     [Dep’t of Motor Veh., Self-insurance Reg. § XI, eff. 4-29-82]—(NAC A by R162-01, 2-12-2002; R164-03, 10-31-2005)