Nev. Rev. Stat. § 695F.210

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1
Section 695F.210 - Maintenance of fidelity bond or deposit in lieu of bond
1. A prepaid limited health service organization shall maintain in force a fidelity bond in its own name on its officers and employees in an amount not less than $1,000,000 or in any other amount prescribed by the Commissioner.
2. Except as otherwise provided in subsection 3, the bond must be issued by an insurer licensed to do business in this State.
3. If the fidelity bond is not available from an insurer licensed to do business in this State, a prepaid limited health service organization may procure a fidelity bond from a surplus lines broker licensed pursuant to chapter 685A of NRS.
4. In lieu of the bond required pursuant to subsection 1, a prepaid limited health service organization may deposit with the Commissioner cash, securities or other investments described in paragraph (o) of subsection 1 of NRS 695F.090. The deposit must be maintained in joint custody with the Commissioner in the amount and subject to the same conditions required for a bond pursuant to this subsection.

NRS 695F.210

Added to NRS by 1991, 1119: A 2021, 2997
Amended by 2021, Ch. 478,§68, eff. 10/1/2021.
Added to NRS by 1991, 1119