Title 57

NRS 686C.180 Provision of assistance to Commissioner. The Association may render assistance and advice to the Commissioner upon request by the Commissioner, concerning rehabilitation, payment of claims, continuation of coverage or the performance of other contractual obligations …

NRS 686C.190 Legal standing. The Association has standing: 1. To appear or intervene before a court or agency in this state which has jurisdiction over an impaired or insolvent insurer concerning which the Association is or may become obligated under this chapter or over any pers…

NRS 686C.200 Subrogation. 1. A person receiving benefits under this chapter shall be deemed to have assigned his or her rights under, and any causes of action against any person for losses arising under, resulting from or otherwise relating to, the covered policy or contract to t…

NRS 686C.210 Limitations on obligations. 1. The benefits that the Association may become obligated to cover may not exceed the lesser of: (a) The contractual obligations for which the member insurer is liable or would have been liable if it were not an impaired or insolvent insur…

NRS 686C.220 General powers. The Association may: 1. Enter into such contracts as are necessary or proper to carry out the provisions and purposes of this chapter. 2. Sue or be sued, including the taking of any legal action necessary or proper for recovery of any unpaid assessmen…

NRS 686C.221 Determination of means to provide benefits; limitation on entitlement to benefits. 1. The Board of Directors of the Association may exercise reasonable business judgment to determine the means by which the Association is to provide the benefits of this chapter in an …

NRS 686C.222 Requests for information from member insurers. The Association may request information from member insurers to aid in the exercise of its powers under this chapter, and each member shall promptly comply with such a request. (Added to NRS by 2001, 1030)

NRS 686C.223 Election to succeed to rights and obligations of member insurer; transfer of obligations to another insurer. 1. As used in this section, “coverage date” means the date on which the Association becomes liable for the obligations of a member insurer. 2. At any time aft…

NRS 686C.224 Assumption of reinsurance contracts: Authority; duties and responsibilities of ceding member insurers and Association. 1. At any time within 180 days after the date of an order of liquidation, the Association may elect to succeed to the rights and obligations of the …

NRS 686C.2241 Assumption of reinsurance contracts: Suspension of rights and obligations for period after order of liquidation. 1. During the period after the date of an order of liquidation until the election date, or, if the election date does not occur, until 180 days after the…

NRS 686C.2243 Assumption of reinsurance contracts: Contracts not assumed by Association. If the Association does not elect to assume a reinsurance contract by the election date under NRS 686C.224, the Association has no rights or obligations, in each case for periods both before …

NRS 686C.2245 Assumption of reinsurance contracts: Transfer of contracts by Association. When policies or contracts, or covered obligations with respect thereto, are transferred to an assuming insurer, reinsurance on the policies or contracts may also be transferred by the Associ…

NRS 686C.2247 Assumption of reinsurance contracts: Applicability of other provisions. The provisions of NRS 686C.224 to 686C.2249, inclusive, supersede the provisions of any state law or of any affected reinsurance contract that provides for or requires any payment of reinsurance…

NRS 686C.2249 Assumption of reinsurance contracts: Terms and conditions of contract not affected; exceptions. 1. Except as otherwise provided in NRS 686C.130 to 686C.226, inclusive, nothing in NRS 686C.224 to 686C.2249, inclusive, shall alter or modify the terms and conditions of…

NRS 686C.225 Termination of obligations: Replacement of coverage under policy or contract. The Association’s obligations with respect to coverage under any policy or contract of the impaired or insolvent insurer or under any reissued or alternative policy or contract ceases on th…

NRS 686C.226 Termination of obligations: Failure to pay premiums. Failure to pay premiums within 31 days after the date required pursuant to the terms of any guaranteed, assumed, alternative or reissued policy or contract or substitute coverage terminates the Association’s obliga…

NRS 686C.230 Imposition; classes. 1. To provide the money necessary to carry out the powers and duties of the Association, the Board of Directors shall assess the member insurers, separately for each account, at such times and for such amounts as the Board finds necessary. An ass…

NRS 686C.240 Computation; necessity; notification. 1. The Board of Directors of the Association shall determine the amount of each assessment in Class A and may, but need not, prorate it. If an assessment is prorated, the Board may provide that any surplus be credited against fut…

NRS 686C.250 Abatement or deferment; maximum amount; effect of insufficiency; allocation of funds among claims. 1. The Association may abate or defer, in whole or in part, the assessment of a member insurer if, in the opinion of the Board of Directors, payment of the assessment w…

NRS 686C.260 Refund to member insurers. The Board of Directors may, by an equitable method as established in the plan of operation, refund to member insurers, in proportion to the contribution of each member insurer to that account, the amount by which the assets of the account e…

NRS 686C.270 Rates and dividends may reflect assessments. It is proper for any member insurer, in determining its rates of premium and dividends to owners of policies or contracts as to any kind of insurance or coverage offered by a health maintenance organization within the scop…

NRS 686C.280 Issuance, effect and use of certificate of contribution; offset against liability for premium tax; recoupment of assessments; payment and deposit of refund. 1. The Association shall issue to each member insurer paying an assessment under this chapter, other than an a…

NRS 686C.285 Protest by member insurer: Procedure. 1. A member insurer that wishes to protest all or part of an assessment shall pay the full amount of the assessment when due, as set forth in the notice from the Association. The payment may be used to meet obligations of the Ass…

NRS 686C.290 Plan of operation: Submission; amendments; approval by Commissioner; compliance; contents; delegation of duties or powers. 1. The Association shall submit to the Commissioner a plan of operation and any amendments thereto necessary or suitable to ensure the fair, rea…

NRS 686C.300 Additional powers and duties of Commissioner; suspension or revocation of certificate of authority or levy of forfeiture; appeals to Commissioner; judicial review; notification of effect of chapter. 1. In addition to the duties and powers otherwise provided in this c…

NRS 686C.303 Action by Commissioner upon failure to act by Association. If the Association fails to act within a reasonable time with respect to an insolvent insurer, as provided in NRS 686C.150 to 686C.155, inclusive, the Commissioner may exercise the powers and perform the duti…

NRS 686C.306 Notice to other insurance commissioners of certain actions by Commissioner; reports by Commissioner of certain information to Board of Directors. 1. The Commissioner shall notify the commissioners of insurance of all the other states within 30 days after the Commissi…

NRS 686C.310 Provision of information and advice by Board of Directors relating to financial condition of insurers. 1. The Board of Directors may, upon majority vote, notify the Commissioner of any information indicating any member insurer may be impaired or insolvent. 2. The Boa…

NRS 686C.330 Impaired or insolvent insurers: Liability for unpaid assessments of insureds; maintenance and disclosure of records of Association; status of Association as creditor; distribution of ownership by court. 1. This chapter does not reduce the liability for unpaid assessm…

NRS 686C.333 Recovery of distributions made before petition for liquidation or rehabilitation of insurer. 1. If an order for liquidation or rehabilitation of a member insurer domiciled in this state has been entered, the receiver appointed under such order is entitled to recover …

NRS 686C.340 Impaired or insolvent insurers: Stay of proceedings; reopening of default judgments. All proceedings in which the impaired or insolvent insurer is a party in any court in this state must be stayed for 60 days from the date an order of liquidation, rehabilitation or c…

NRS 686C.350 Examination and regulation of Association by Commissioner; annual financial report. The Association is subject to examination and regulation by the Commissioner. The Board of Directors shall submit to the Commissioner, not later than 120 days after the end of its fis…

NRS 686C.360 Exemption of Association from payment of fees and taxes; exceptions. The Association is exempt from payment of all fees and all taxes levied by this state or any of its political subdivisions, except taxes on property and the commerce tax imposed pursuant to chapter …

NRS 686C.370 Immunity from liability. There is no liability on the part of and no cause of action of any nature arises against any member insurer or its agents or employees, the Association or its agents or employees, members of the Board or the Commissioner or the representative…

NRS 686C.380 Actions arising under chapter: Venue; appeal bond not required of Association. Venue in an action against the Association arising under this chapter lies in Washoe County. No appeal bond may be required of the Association in an appeal that relates to a cause of actio…

NRS 686C.390 Unlawful advertisement using existence of Association for sale, solicitation or inducement to purchase; exception. It is unlawful for a member insurer, agent or affiliate of a member insurer, or other person to make, publish, circulate or place before the public, or …

NRS 687A.010 Short title. This chapter shall be known and may be cited as the Nevada Insurance Guaranty Association Act. (Added to NRS by 1971, 1943)

NRS 687A.020 Applicability. Except as otherwise provided in subsection 5 of NRS 695E.200, this chapter applies to all direct insurance, except: 1. Life, annuity, health or disability insurance; 2. Mortgage guaranty, financial guaranty or other forms of insurance offering protecti…

NRS 687A.030 Definitions. As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 687A.031 to 687A.0395, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 1971, 1943; A 1977, 434; 1985, 537, 1073; 2015, 34…

NRS 687A.031 “Association” defined. “Association” means the Nevada Insurance Guaranty Association created pursuant to NRS 687A.040. (Added to NRS by 1985, 1072)

NRS 687A.032 “Assumed claims transaction” defined. “Assumed claims transaction” includes: 1. A policy obligation that has been assumed by an insolvent insurer, before the entry of a final order of liquidation, through a merger between the insolvent insurer and another entity obli…

NRS 687A.033 “Covered claim” defined. 1. “Covered claim” means an unpaid claim or judgment, including a claim for unearned premiums, which arises out of and is within the coverage of an insurance policy to which this chapter applies if the insurer becomes an insolvent insurer, th…

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…

NRS 687A.037 “Member insurer” defined. “Member insurer” means any person, except a fraternal or nonprofit service corporation which: 1. Writes any kind of insurance to which this chapter applies, including the exchange of reciprocal or interinsurance agreements of indemnity. 2. I…

NRS 687A.039 “Net direct written premiums” defined. “Net direct written premiums” means direct gross premiums written in this state on insurance policies to which this chapter applies, less return premiums and dividends paid or credited to policyholders on such direct business. T…

NRS 687A.0393 “Person” defined. “Person” means any individual or legal entity, including, without limitation, a governmental entity. (Added to NRS by 2021, 111)