NRS 687A.035
“Insolvent insurer” defined.

“Insolvent insurer” means an insurer which has been issued a certificate of authority by the Commissioner to transact insurance in this state, either at the time the policy was issued or when the insured event occurred:

1.

Against which a final order of liquidation with a finding of insolvency has been entered by a court of competent jurisdiction in the insurer’s state of domicile or in Nevada; or

2.

Which is involved in judicial proceeding in its state of domicile or in Nevada related to the determination of its solvency, rehabilitation or liquidation, if the court conducting those proceedings has issued an order prohibiting the insurer from paying claims for more than 30 days.

Source: Section 687A.035 — “Insolvent insurer” defined., https://www.leg.state.nv.us/NRS/NRS-687A.html#NRS687ASec035.

687A.010
Short title. 687A.020
Applicability. 687A.030
Definitions. 687A.031
“Association” defined. 687A.032
“Assumed claims transaction” defined. 687A.033
“Covered claim” defined. 687A.035
“Insolvent insurer” defined. 687A.037
“Member insurer” defined. 687A.039
“Net direct written premiums” defined. 687A.040
Nevada Insurance Guaranty Association created. 687A.050
Board of Directors. 687A.060
Obligations, rights, powers and duties of Association. 687A.070
Plan of operation. 687A.080
Powers and duties of Commissioner. 687A.090
Subrogation 687A.095
Claim against person insured by insolvent insurer which is not covered claim. 687A.100
Exhaustion of remedies of insured. 687A.103
Reimbursement of Association by insolvent insurer. 687A.107
Hearing to determine whether insurer insolvent. 687A.110
Detection and prevention of insolvency: Powers and duties of Board of Directors. 687A.115
Detection and prevention of insolvency: Powers of Commissioner. 687A.120
Examination of Association 687A.130
Association tax exempt 687A.140
Rates and premiums to include recoupment of amount paid by Association. 687A.150
Immunity from liability. 687A.160
Proceedings involving insolvent insurer: Stay

Last Updated

Jun. 24, 2021

§ 687A.035’s source at nv.us

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Location: https://nevada.public.law/statutes/nrs_687a.035

Original Source: Section 687A.035 — “Insolvent insurer” defined., https://www.leg.state.nv.us/NRS/NRS-687A.html#NRS687ASec035 (last accessed Jun. 24, 2021).