NRS 686C.2245
Assumption of reinsurance contracts: Transfer of contracts by Association.

When policies or annuities, or covered obligations with respect thereto, are transferred to an assuming insurer, reinsurance on the policies or annuities may also be transferred by the Association, in the case of contracts assumed under NRS 686C.224, subject to the following:

1.

Unless the reinsurer and the assuming insurer agree otherwise, the reinsurance contract transferred must not cover any new policies of insurance or annuities in addition to those transferred.

2.

The obligations described in NRS 686C.224 no longer apply with respect to matters arising after the effective date of the transfer.

3.

Notice must be given in writing, return receipt requested, by the transferring party to the affected reinsurer not less than 30 days before the effective date of the transfer.

Source: Section 686C.2245 — Assumption of reinsurance contracts: Transfer of contracts by Association., https://www.­leg.­state.­nv.­us/NRS/NRS-686C.­html#NRS686CSec2245.

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

Feb. 5, 2021

§ 686C.2245’s source at nv​.us