Nevada Administrative Code (Last Updated: January 6, 2015)

NAC682B.020. Special deposits; determination of amount; disposition.

Latest version.

     1. The Commissioner may require any authorized insurer who is subject to the provisions of chapter 680A of NRS, at the time of or any time after its admission, and any eligible insurer who is subject to the provisions of chapter 685A of NRS, at the time of becoming or any time after becoming eligible, to deposit with the Commissioner a special deposit. To determine which insurer will be required to make a special deposit and in what amount, the Commissioner will consider:

     (a) The amount of business being transacted or to be transacted in this state by the insurer;

     (b) The financial strength of the insurer; and

     (c) The ability of the insurer to fulfill its policy obligations.

     2. Any deposit made pursuant to this section must be deposited, released and maintained in accordance with NRS 682B.015.

(Added to NAC by Comm’r of Insurance, eff. 3-28-96)

                    
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