State Codes and Statutes

Statutes > Nevada > Title-57 > Chapter-686c > Organization-powers-and-duties > 686c-152

686C.152 Duties regarding insolvent insurers. If a member insurer is an insolvent insurer, the Association shall:

1. Guarantee, assume or reinsure, or cause to be guaranteed, assumed 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.

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

1. Guarantee, assume or reinsure, or cause to be guaranteed, assumed 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.

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

1. Guarantee, assume or reinsure, or cause to be guaranteed, assumed 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.

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

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