NAC616B.481. Reserve Account to Protect Against Insolvency: Use; reimbursement by employer.

     1. If a self-insured employer fails to pay compensation as a result of being insolvent as provided in NRS 616B.306, the Commissioner may use the Reserve Account, on behalf of that employer to:

     (a) Directly pay compensation to the employees of the employer pursuant to chapters 616A to 616D, inclusive, or chapter 617 of NRS; or

     (b) Retain an administrator who shall, under the direction of the Commissioner, assume the responsibility for the administration of claims and payment of compensation pursuant to chapters 616A to 617, inclusive, of NRS.

     2. A payment of a claim and the administrative cost from the Reserve Account does not release the self-insured employer or the surety from the employer’s responsibility to pay the amounts due under chapters 616A to 617, inclusive, of NRS. The self-insured employer or the surety shall reimburse the Reserve Account for any expense incurred in the payment of claims on its behalf.

     (Added to NAC by Comm’r of Insurance, eff. 7-2-84)—(Substituted in revision for NAC 616.197)