NAC616B.600. Insolvency of association.

Latest version.

If an association is deemed to be insolvent pursuant to NRS 616B.422, the Commissioner may:

     1. Invoke the provisions of the indemnity agreement executed by each member of the association;

     2. Use the security deposit of the association;

     3. Use any solvency bonds deposited with him or her by or on behalf of the association; and

     4. Use the Account for Insolvent Associations of Self-Insured Public or Private Employers,

Ê to pay claims and related expenses.

(Added to NAC by Comm’r of Insurance, eff. 3-22-96; A by R139-99, 1-27-2000)

                    
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