NRS 695D.250
Reserves

  • regulations.

1.

An organization for dental care shall set aside a reserve equal to 3 percent of the premiums collected from its members up to a total of $500,000. This reserve is in addition to the bond or deposit filed with the Commissioner.

2.

This section does not apply to organizations receiving money from federal, state or municipal governments or their political subdivisions or another comparable resource which have had their deposit or bond reduced by the Commissioner.

3.

Every organization shall maintain the reserves required by NRS 681B.080, unless a larger amount is required by subsection 1 of this section.

4.

The reserve required by subsection 1 is held by the organization in a fiduciary capacity. The organization must deposit the reserve in an interest-bearing trust account established in a bank, credit union, savings and loan association or savings bank in this state that is federally insured or insured by a private insurer approved pursuant to NRS 672.755. The account must be separate from all other accounts maintained by the organization.

5.

Any person who diverts or appropriates reserves held in a fiduciary capacity pursuant to this section for the person’s own use is guilty of embezzlement.

6.

The Commissioner may adopt reasonable regulations related to the adequacy of a reserve required by this section and the establishment and maintenance of a trust account pursuant to this section.

Source: Section 695D.250 — Reserves; regulations., https://www.­leg.­state.­nv.­us/NRS/NRS-695D.­html#NRS695DSec250.

695D.010
Definitions. 695D.020
“Commissioner” defined. 695D.030
“Dental care” defined. 695D.040
“Dentist” defined. 695D.050
“Member” defined. 695D.060
“Organization for dental care” defined. 695D.070
“Plan for dental care” defined. 695D.080
“Policy” defined. 695D.090
Applicability. 695D.095
Applicability of other provisions to organizations for dental care. 695D.100
Regulations of Commissioner. 695D.102
Summary of coverage: Contents of disclosure 695D.104
Summary of coverage: Copy to be provided before policy issued 695D.110
Certificate of authority: Required for plan for dental care. 695D.120
Certificate of authority: Application. 695D.130
Certificate of authority: Issuance. 695D.140
Certificate of authority: Notice of change of information 695D.150
Certificate of authority: Expiration 695D.153
Capital account: Minimum amount 695D.157
Hazardous financial condition: Regulations 695D.160
Composition of board of directors for organization for dental care. 695D.170
Bond or deposit required 695D.180
Bond payable to State 695D.190
Fiduciary responsibilities 695D.200
Policy: Issuance 695D.203
Group plan issued to replace discontinued policy or coverage: Requirements 695D.205
Copayments and deductibles. 695D.210
Coverage for newly born and adopted children and children placed for adoption. 695D.215
Claims: Approval or denial 695D.216
Required provision concerning coverage for services provided through telehealth. 695D.217
Organization for dental care prohibited from denying coverage solely because person was victim of domestic violence. 695D.219
Organization for dental care prohibited from denying coverage solely because member was intoxicated or under the influence of controlled substance 695D.220
Licensing of agents. 695D.225
Contracts between organization for dental care and dentist: Modification 695D.227
Prohibition of setting of fees by plan or organization for dental care other than covered services to members. 695D.230
Approval of advertising or materials used to solicit members. 695D.240
Limitation on expenses for marketing and administration. 695D.250
Reserves 695D.260
Annual report, financial statement and tax 695D.270
Examination of organization by Commissioner. 695D.280
Rehabilitation, liquidation or conservation. 695D.290
Trade practices and frauds. 695D.300
Disciplinary actions 695D.310
Notice of disciplinary action
Last Updated

Jun. 24, 2021

§ 695D.250’s source at nv​.us