Nev. Rev. Stat. § 682B.015

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1

Section 682B.015 - Additional deposit

1. In addition to the deposits authorized by NRS 682B.010, the Commissioner may by regulation require as a condition of transacting the business of insurance in this state that a special deposit be maintained in this state by an authorized insurer who is subject to the provisions of chapter 680A of NRS or by an eligible insurer who is subject to the provisions of chapter 685A of NRS.

2. A deposit pursuant to this section:

(a) Must be held for the sole benefit and protection of policyholders residing in this state and any risk that is resident, located or to be performed in this state that is the subject of insurance; and

(b) Is subject to the provisions of NRS 682B.030 to 682B.120, inclusive.

NRS 682B.015

Added to NRS by 1993, 2386