NAC485.120. Cancellation of certificate.

     1. The Department may cancel the certificate of self-insurance of a self-insurer if:

     (a) The self-insurer no longer has security in a form acceptable pursuant to NAC 485.090;

     (b) The self-insurer no longer has security in the amount determined by the Department pursuant to NAC 485.080;

     (c) The self-insurer fails to increase the amount of security to the required amount within 30 days after receiving notice from the Department of a required increase;

     (d) The self-insurer fails to pay a judgment within 30 days after it becomes final;

     (e) The self-insurer submits false information in the application for self-insurance;

     (f) The self-insurer fails to submit or falsifies any report required pursuant to NAC 485.110;

     (g) The self-insurer fails to comply with any provision of NRS 686A.310 or NAC 686A.600 to 686A.680, inclusive, an order of the Commissioner of Insurance in any informal or administrative hearing or an order of any court;

     (h) The number of vehicles actively registered in this State in the name of the self-insurer drops below 11; or

     (i) The self-insurer fails to comply with any provision of this chapter or NRS 485.380.

     2. If the Department cancels the certificate of self-insurance of a self-insurer:

     (a) The Department will send notice of the cancellation, including the reason for the cancellation, to the self-insurer by certified mail; and

     (b) The self-insurer shall comply with the requirements concerning liability insurance set forth in NRS 485.185.

     [Dep’t of Motor Veh., Self-insurance Reg. § XIII, eff. 4-29-82]—(NAC A by R164-03, 10-31-2005)