NAC681B.525. Consultants: Retention by Commissioner; payment of fees, costs and expenses.

     1. The Commissioner will retain such actuaries, investment experts and other consultants as he or she determines are necessary to:

     (a) Review the plan or revised plan for risk-based capital, as appropriate, submitted by the insurer pursuant to NAC 681B.515 after the occurrence of an event that requires regulatory action;

     (b) Examine or analyze the assets, liabilities and operations of the insurer; and

     (c) Formulate the necessary corrective actions that need to be included in a corrective order, if any.

     2. The reasonable fees, costs and expenses relating to the retention of actuaries, investment experts and other consultants must be paid by the insurer under examination and by any person referred to in subsection 1, 2 or 5 of NRS 679B.240 who is associated with the insurer, as directed by the Commissioner.

     (Added to NAC by Comm’r of Insurance by R088-97, eff. 3-19-98)