Nev. Rev. Stat. § 682B.080

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1
Section 682B.080 - Excess deposits
1. If assets deposited by an insurer under NRS 682B.010 to 682B.120, inclusive, are subject to material fluctuations in market value, the Commissioner may, in his or her discretion, require the insurer to deposit and maintain on deposit additional assets in an amount reasonably necessary to assure that the deposit at all times has a market value of not less than the amount specified under the law by which the deposit is required.
2. An insurer may otherwise at its option deposit assets in an amount exceeding its deposit required or otherwise permitted under this Code by not more than 20 percent of such required or permitted deposit, or $20,000, whichever is the larger amount, for the purpose of absorbing fluctuations in the value of assets deposited and to facilitate exchange and substitution of such assets. During the solvency of the insurer, any such excess shall be released to the insurer upon its request. During the insolvency of the insurer, such excess deposit shall be released only as provided in subsection 3 of NRS 682B.120.

NRS 682B.080

Added to NRS by 1971, 1631
Added to NRS by 1971, 1631