NAC681B.472. Instructions for reporting risk-based capital: Amendment.

     1. If the instructions for reporting risk-based capital adopted by the National Association of Insurance Commissioners are amended, the amended instructions shall be deemed to have been determined by the Commissioner in accordance with NRS 681B.290 to be appropriate for use in this State, effective 10 days after the date on which the amended instructions are published, unless the Commissioner determines that the amended instructions are not appropriate for use in this State. If the Commissioner determines that the amended instructions are not appropriate for use in this State, the Commissioner will:

     (a) Post a notice of disapproval at the largest public library in each county, the State Library and Archives, the Grant Sawyer Office Building located at 555 East Washington Avenue, Las Vegas, Nevada, and all offices of the Division; and

     (b) Send a notice to each person included on the mailing list that the Division is required to maintain pursuant to paragraph (e) of subsection 1 of NRS 233B.0603.

     2. If the Commissioner determines that an amended version of the instructions for reporting risk-based capital adopted by the National Association of Insurance Commissioners is not appropriate for use in this State, the version of the instructions for reporting risk-based capital that was most recently adopted by the Commissioner by regulation pursuant to NRS 681B.290 or deemed appropriate for use in this State pursuant to this section will continue in effect.

     (Added to NAC by Comm’r of Insurance by R024-02, eff. 5-31-2002)