Nev. Rev. Stat. § 686C.152

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

Section 686C.152 - Duties regarding insolvent insurers

If a member insurer is an insolvent insurer, the Association shall:

1. Guarantee, assume, reissue or reinsure, or cause to be guaranteed, assumed, reissued or reinsured, the policies or contracts of the insolvent insurer; or

2. Ensure payment of the contractual obligations of the insolvent insurer and:

(a) Provide such money, pledges, loans, notes, guarantees or other means as are reasonably necessary to discharge its duties; or

(b) Provide benefits and coverages in accordance with NRS 686C.153 and 686C.154.

NRS 686C.152

Added to NRS by 1991, 865; A 2001, 1036; 2019, 1090

Amended by 2019, Ch. 201,§17, eff. 1/1/2020.

Added to NRS by 1991, 865; A 2001, 1036