NRS 686C.175
Receipt and disposition of deposit held pursuant to law or required by Commissioner for benefit of creditors.

A deposit in this state, held pursuant to law or required by the Commissioner for the benefit of creditors, including owners of policies, not turned over to the domiciliary receiver upon the entry of a final order of liquidation or order approving a plan of rehabilitation of an insurer domiciled in this state or a reciprocal state pursuant to NRS 696B.290 or 696B.300 must be promptly paid to the Association. The Association is entitled to retain a portion of an amount so paid to it that is equal to the percentage determined by dividing the aggregate amount of policy owners’ claims related to that insolvency for which the Association has provided statutory benefits by the aggregate amount of all policy owners’ claims in this state related to that insolvency, and shall remit the remainder to the domiciliary receiver. The amount so remitted is a distribution of the assets of the insurer for the purposes of chapter 696B of NRS.

Source: Section 686C.175 — Receipt and disposition of deposit held pursuant to law or required by Commissioner for benefit of creditors., https://www.­leg.­state.­nv.­us/NRS/NRS-686C.­html#NRS686CSec175.

686C.130
Creation of Association 686C.140
Board of Directors: Members 686C.150
Powers regarding impaired insurers. 686C.152
Duties regarding insolvent insurers. 686C.153
Provision of substitute benefits and coverage with respect to covered policies or contracts. 686C.154
Alternative policies or contracts: Adoption 686C.155
Ensuring of payment or credit of guaranteed minimum interest rate. 686C.156
Issuance of substitute coverage for policy or contract that uses external reference for calculating returns or changes in value. 686C.158
Payment of premiums 686C.160
Imposition of restraints on insurers. 686C.170
Liability for guaranty provided by laws of another state or jurisdiction. 686C.175
Receipt and disposition of deposit held pursuant to law or required by Commissioner for benefit of creditors. 686C.180
Provision of assistance to Commissioner. 686C.190
Legal standing. 686C.200
Subrogation. 686C.210
Limitations on obligations. 686C.220
General powers. 686C.221
Determination of means to provide benefits 686C.222
Requests for information from member insurers. 686C.223
Election to succeed to rights and obligations of member insurer 686C.224
Assumption of reinsurance contracts: Authority 686C.225
Termination of obligations: Replacement of coverage under policy or contract. 686C.226
Termination of obligations: Failure to pay premiums. 686C.2241
Assumption of reinsurance contracts: Suspension of rights and obligations after order of liquidation. 686C.2243
Assumption of reinsurance contracts: Contracts not assumed by Association. 686C.2245
Assumption of reinsurance contracts: Transfer of contracts by Association. 686C.2247
Assumption of reinsurance contracts: Applicability of other provisions. 686C.2249
Assumption of reinsurance contracts: Terms and conditions of contract not affected
Last Updated

Jun. 24, 2021

§ 686C.175’s source at nv​.us