Nevada Revised Statutes Title 57. Insurance § 681A.240. Requirements for reduction from liability when assuming insurer does not meet certain requirements concerning risk-based capital

1. Cash.

2. Securities listed by the Securities Valuation Office of the National Association of Insurance Commissioners and qualifying as admitted assets.

3. Irrevocable, unconditional letters of credit, each issued or confirmed by a qualified financial institution in the United States whose letters of credit are acceptable to the Commissioner, no later than December 31 of the year for which filing is made, and in the possession of the ceding company on or before the date of filing its annual statement. A letter of credit meeting applicable standards of acceptability of its issuer as of the date of its issuance or confirmation, notwithstanding the issuing or confirming institution's subsequent failure to meet applicable standards of acceptability, continues to be acceptable as security until its expiration, extension, renewal, modification or amendment, whichever first occurs.

4. Any other form of security acceptable to the Commissioner.