NAC616B.582. Account for Insolvent Associations: Use; reimbursement by association.

     1. If an association fails to pay any compensation due under chapters 616A to 617, inclusive, of NRS because it is insolvent, the Commissioner may use the money in the Account for Insolvent Associations of Self-Insured Public or Private Employers to:

     (a) Pay the compensation that is due; or

     (b) Retain experts and administrators to assume, under the direction of the Commissioner, the responsibility for the administration of the claim and the payment of the compensation that is due.

     2. The payment of compensation from the Account for Insolvent Associations of Self-Insured Public or Private Employers and of the administrative costs associated with that payment does not limit or terminate the responsibility of the association, the members of the association or any surety providing a surety bond for the association to pay any compensation due pursuant to chapters 616A to 617, inclusive, of NRS. The association or its surety shall reimburse the Account for Insolvent Associations of Self-Insured Public or Private Employers for all expenses incurred in the payment of the compensation.

     (Added to NAC by Comm’r of Insurance, eff. 3-22-96)