“Retained asset account” defined.

NRS 688D.060 “Retained asset account” defined. “Retained asset account” means any account or other mechanism by which the settlement of any proceeds payable under a policy of life insurance is accomplished by the insurer or a person acting on behalf of the insurer by depositing the proceeds into an account with draft or check writing privileges, where the proceeds are retained by the insurer, pursuant to a supplementary contract not involving annuity benefits. (Added to NRS by 2013, 2702)