Section 616B.7758 - Estimated annual assessment: Collection; calculation; pro rata assessment; statement; penalty1. The Division shall collect an estimated annual assessment from each association to defray the expected annual disbursements from the Account.2. Except as otherwise provided in subsection 3, to calculate the estimated annual assessment to be collected from each association, the Division shall:(a) Calculate the expected annual expenditures for claims of the association pursuant to NAC 616B.7761 and 616B.7764;(b) Divide the expected annual expenditures for claims of the association by the aggregate sum of the expected annual expenditures for claims of all associations; and(c) Multiply the result of the calculation performed pursuant to paragraph (b) by the expected annual disbursements from the Account as calculated by the Division.3. If an association does not participate in a program of self-insurance for the entire fiscal year, the Division shall collect the estimated annual assessment from the association pursuant to subsection 2 in the proportion that the number of months of the fiscal year during which the association participates in a program of self-insurance bears to the total number of months in the fiscal year.4. The Division shall mail to each association a statement of its estimated annual assessment that includes the date on which the entire amount of the assessment is due. The Division shall mail the statement to each association: (a) On or before July 30 of each year; and(b) Not later than 30 days before the date on which the entire amount of the assessment is due.5. If an association does not pay the entire amount of the estimated annual assessment to the Division within 7 days after the date on which it is due, the Division shall assess against the association a penalty of $1,000 for each day that any portion of the estimated annual assessment remains unpaid, but such a penalty must not exceed $50,000 for each such unpaid estimated annual assessment.6. The Administrator may seek recovery of any unpaid assessments or penalties.Nev. Admin. Code § 616B.7758
Added to NAC by Bd. for Admin. of Subsequent Injury Fund for Ass'ns of Self-Insured Pub. or Private Employers by R216-97, eff. 8-19-99