NAC648.480. Eligibility.

Latest version.

To be eligible to maintain self-insurance, a licensee shall:

     1. Place on deposit with a recognized financial institution insured by the Federal Deposit Insurance Corporation, not less than $200,000 in cash, a certificate of deposit in the same amount or a similar deposit which is acceptable to the Board. The licensee must furnish to the Board evidence of the deposit. No amount of the deposit may be withdrawn unless the withdrawal is cosigned by an authorized agent of the Board.

     2. Be financially responsible for all wrongful acts alleged against the licensee and his or her employees.

     3. Provide the Board with the name of the licensee’s authorized agent in this State who will accept legal process.

(Added to NAC by Priv. Investigator’s Lic. Bd., eff. 1-27-89)

                    
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