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

NAC682B.030. Special deposits; book entry form.

Latest version.

Each insurer who is required to make a special deposit pursuant to NAC 682B.020 may hold the securities in book entry form through the United States banking system if recorded in the name of the insurer or its nominee by the authorized transfer agency or trustee of the security. An insurer who is holding his or her special deposit in book entry form shall provide to the Commissioner an irrevocable power of attorney in the format prescribed by the Commissioner for that insurer. The power of attorney must describe the securities held and give the Commissioner the authority to transfer the securities or any part thereof for the purposes set forth in NRS 682B.015.

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

                    
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