Section 695D.240 - Reserves maintained by organizationAll reserves maintained by an organization pursuant to NRS 695D.250:
1. Must be deposited in a trust account in a federally insured financial institution located in this State. All income earned by the account belongs to the organization and may be credited and paid to the organization and used for its operations.2. Are in addition to those reserves established by the organization according to good business and accounting practices to cover claims that have been incurred but not reported and other similar claims.Nev. Admin. Code § 695D.240
Added to NAC by Comm'r of Insurance, eff. 12-2-88NRS 679B.130, 695D.100, 695D.250