NAC616B.484. Reserve Account to Protect Against Insolvency: Special assessments; notification by mail; failure to pay; exception.

     1. Except as otherwise provided in subsection 3, if the Commissioner determines that the balance in the Reserve Account is insufficient to pay compensation on behalf of an insolvent self-insured employer or if an insolvent self-insured employer fails to reimburse the Account, the Commissioner will assess all employers certified as self-insurers on the date of the assessment, an amount determined by the Commissioner to either pay claims or restore the balance of the Reserve Account. After determining the amount necessary for the assessment, the Commissioner will mail, by regular mail, each self-insured employer a notice specifying the amount of the assessment and the date that it is due, at least 20 days before that date.

     2. Each self-insured employer shall remit, on the date specified in the notice, to the Commissioner the total amount of the assessment. Failure by a self-insured employer to pay an assessment is prima facie evidence that the employer has intentionally failed to comply with the regulations of the Commissioner and is grounds for the imposition of a fine or the withdrawal of the certification as a self-insured employer pursuant to NRS 616B.318.

     3. If:

     (a) The Reserve Account has been used to pay the claims of an insolvent self-insured employer;

     (b) That self-insured employer fails to reimburse the Reserve Account; and

     (c) The Commissioner determines that the balance of the Reserve Account is sufficient to pay compensation on behalf of other insolvent self-insured employers,

Ê the Commissioner may decide not to impose an assessment pursuant to this section against employers certified as self-insured employers on that date.

     (Added to NAC by Comm’r of Insurance, eff. 7-2-84; A by R139-99, 1-27-2000)