Title 3

NRS 41B.250 Criminal action: Conclusive effect of judgment of conviction; admissibility of judgment of conviction in civil action. 1. If a court in this state or any other jurisdiction enters a judgment of conviction against a person in which the person is found to have been a cu…

NRS 41B.260 Civil action: Parties; burden of proof; evidence; stay of proceedings; limitation on time for commencement. 1. For the purposes of this chapter, an interested person may bring a civil action alleging that a person was a culpable actor in the felonious and intentional …

NRS 41B.300 Estate of decedent. 1. A killer of a decedent forfeits any appointment, nomination, power, right, property, interest or benefit that, pursuant to the provisions of title 12 of NRS or the common law, accrues or devolves to the killer from or through the estate of the d…

NRS 41B.310 Governing instruments. 1. Except as otherwise provided in NRS 41B.320, a killer of a decedent forfeits any appointment, nomination, power, right, property, interest or benefit that, pursuant to the provisions of a governing instrument executed by the decedent or any o…

NRS 41B.320 Community property with right of survivorship and joint tenants with right of survivorship. 1. A killer of a decedent forfeits any right of survivorship in property that, at the time of the killing, was held by the decedent and the killer as community property with ri…

NRS 41B.330 Action for wrongful death. 1. A killer of a decedent may not: (a) Bring an action for wrongful death of the decedent pursuant to NRS 41.085; or (b) Benefit in any way from such an action brought by a personal representative of the decedent. 2. Each person who may brin…

NRS 41B.400 Payor or other third person who pays or transfers forfeited property, interest or benefit. Except as otherwise provided by specific statute, if a payor or other third person, in good faith, pays or transfers any property, interest or benefit to a beneficiary in accord…

NRS 41B.410 Person who acquires or receives forfeited property, interest or benefit without legal right or authorization. 1. Except as otherwise provided in subsection 2, if a person, without legal right or authorization, acquires or receives any property, interest or benefit for…

NRS 41B.420 Killer who transfers forfeited property, interest or benefit to third person; effect of preemption by federal law. 1. If a killer, for value or otherwise, transfers to a third person any property, interest or benefit forfeited by the killer pursuant to the provisions …

NRS 42.001 Definitions; exceptions. As used in this chapter, unless the context otherwise requires and except as otherwise provided in subsection 5 of NRS 42.005: 1. “Conscious disregard” means the knowledge of the probable harmful consequences of a wrongful act and a willful and…

NRS 42.005 Exemplary and punitive damages: In general; limitations on amount of award; determination in subsequent proceeding. 1. Except as otherwise provided in NRS 42.007, in an action for the breach of an obligation not arising from contract, where it is proven by clear and co…

NRS 42.007 Exemplary and punitive damages: Limitations on liability by employer for wrongful act of employee; exception. 1. Except as otherwise provided in subsection 2, in an action for the breach of an obligation in which exemplary or punitive damages are sought pursuant to sub…

NRS 42.010 Exemplary and punitive damages: Injury caused by operation of vehicle after consumption or use of alcohol or another substance. 1. In an action for the breach of an obligation, where the defendant caused an injury by the operation of a motor vehicle in violation of NRS…

NRS 42.021 Actions based on professional negligence of providers of health care: Introduction of certain evidence relating to collateral benefits; restrictions on source of collateral benefits; payment of future damages by periodic payments. 1. In an action for injury or death ag…

NRS 42.200 Short title. NRS 42.200 to 42.400, inclusive, may be known and cited as the Structured Settlement Protection Act. (Added to NRS by 2021, 1720; A 2023, 1957)

NRS 42.205 Definitions. As used in NRS 42.200 to 42.400, inclusive, unless the context otherwise requires, the words and terms defined in NRS 42.210 to 42.335, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 2021, 1720)

NRS 42.210 “Annuity issuer” defined. “Annuity issuer” means an insurer that has issued a contract to fund periodic payments under a structured settlement. (Added to NRS by 2021, 1720)

NRS 42.215 “Assignee” defined. “Assignee” means a person acquiring or proposing to acquire structured settlement payments from a structured settlement purchase company or transferee after, or concurrently with, the transfer of the structured settlement payment rights by the payee…

NRS 42.220 “Dependents” defined. “Dependents” include a payee’s spouse and minor children and all other persons for whom the payee is legally obligated to provide support, including, without limitation, alimony. (Added to NRS by 2021, 1720)

NRS 42.225 “Discounted present value” defined. “Discounted present value” means the present value of future payments determined by discounting such payments to the present using the most recently published Applicable Federal Rate for determining the present value of an annuity, a…

NRS 42.230 “Gross advance amount” defined. “Gross advance amount” means the sum payable to the payee or for the payee’s account as consideration for a transfer of structured settlement payment rights, before any reductions for transfer expenses or other deductions to be made from…

NRS 42.235 “Independent professional advice” defined. “Independent professional advice” means advice of an attorney, certified public accountant, actuary or other licensed professional adviser. (Added to NRS by 2021, 1720)

NRS 42.240 “Interested party” defined. “Interested party” means, with respect to any structured settlement, the payee, any beneficiary irrevocably designated under the annuity contract to receive payments following the payee’s death, the annuity issuer, the structured settlement …

NRS 42.245 “Net advance amount” defined. “Net advance amount” means the gross advance amount, less the aggregate amount of the actual and estimated transfer expenses required to be disclosed under NRS 42.380. (Added to NRS by 2021, 1720)

NRS 42.250 “Payee” defined. “Payee” means a natural person who: 1. Is receiving tax-free payments under a structured settlement which resolved a settled claim; and 2. Proposes to make a transfer of the structured settlement payment rights. (Added to NRS by 2021, 1720)

NRS 42.255 “Periodic payments” defined. “Periodic payments” includes both recurring payments and scheduled future lump-sum payments. (Added to NRS by 2021, 1720)

NRS 42.260 “Qualified assignment agreement” defined. “Qualified assignment agreement” means an agreement providing for a qualified assignment within the meaning of section 130 of the Internal Revenue Code, 26 U.S.C. § 130. (Added to NRS by 2021, 1721)

NRS 42.265 “Renewal date” defined. “Renewal date” means the date on which a registered structured settlement purchase company is required to renew its registration pursuant to NRS 42.340, which date is 1 year after the initial registration or any subsequent renewal. (Added to NRS…

NRS 42.270 “Settled claim” defined. “Settled claim” means the tort claim resolved by a structured settlement. (Added to NRS by 2021, 1721)

NRS 42.275 “Structured settlement” defined. “Structured settlement” means an arrangement for periodic payment of damages for personal injuries or sickness established by settlement or judgment in resolution of a tort claim. (Added to NRS by 2021, 1721)

NRS 42.280 “Structured settlement agreement” defined. “Structured settlement agreement” means the agreement, judgment, stipulation or release embodying the terms of a structured settlement. (Added to NRS by 2021, 1721)

NRS 42.285 “Structured settlement obligor” defined. “Structured settlement obligor” means, with respect to any structured settlement, the party that has the continuing obligation to make periodic payments to the payee under a structured settlement agreement or qualified assignmen…

NRS 42.290 “Structured settlement payment rights” defined. “Structured settlement payment rights” means rights to receive periodic payments under a structured settlement, whether from the structured settlement obligor or the annuity issuer, where the payee is domiciled in this St…

NRS 42.295 “Structured settlement purchase company” defined. “Structured settlement purchase company” means a person that acts as a transferee in this State and who is registered with the Unit pursuant to NRS 42.340. (Added to NRS by 2021, 1721)

NRS 42.300 “Structured settlement transfer proceeding” defined. “Structured settlement transfer proceeding” means a court proceeding filed by a structured settlement purchase company seeking court approval of a transfer in accordance with NRS 42.385. (Added to NRS by 2021, 1721)

NRS 42.305 “Terms of the structured settlement” defined. “Terms of the structured settlement,” with respect to any structured settlement, includes, without limitation, the terms of the structured settlement agreement, the annuity contract, any qualified assignment agreement and a…

NRS 42.310 “Transfer” defined. “Transfer” means any sale, assignment, pledge, hypothecation or other alienation or encumbrance of structured settlement payment rights made by a payee for consideration. The term does not include the creation or perfection of a security interest in…

NRS 42.315 “Transfer agreement” defined. “Transfer agreement” means the agreement providing for a transfer of structured settlement payment rights. (Added to NRS by 2021, 1721)

NRS 42.320 “Transfer expense” defined. “Transfer expense” means all expenses of a transfer that are required under the transfer agreement to be paid by the payee or deducted from the gross advance amount, including, without limitation, court filing fees, attorney’s fees, escrow f…

NRS 42.325 “Transfer order” defined. “Transfer order” means an order approving a transfer in accordance with NRS 42.385. (Added to NRS 2021, 1722)

NRS 42.330 “Transferee” defined. “Transferee” means a party acquiring or proposing to acquire structured settlement payment rights through a transfer. (Added to NRS by 2021, 1722)

NRS 42.335 “Unit” defined. “Unit” means the Consumer Affairs Unit of the Department of Business and Industry. (Added to NRS by 2021, 1720)

NRS 42.337 Regulations. The Commissioner of Consumer Affairs of the Unit may, in consultation with the Director of the Department of Business and Industry, adopt regulations to carry out the provisions of NRS 42.200 to 42.400, inclusive. (Added to NRS by 2023, 1957)

NRS 42.340 Requirement to register as structured settlement purchase company; application; fees; certification of surety bond or letter of credit that meets certain requirements. 1. A person shall not act as a transferee, attempt to acquire structured settlement payment rights th…

NRS 42.345 Statement concerning obligation for child support required for issuance or renewal of registration as structured settlement purchase company. [Effective until the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for wi…

NRS 42.350 Suspension of registration as structured settlement purchase company; reinstatement of registration. [Effective until the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withholding, suspending and restricting the…