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Current as of January 01, 2025 | Updated by Findlaw Staff
If a member insurer is an impaired insurer, the Association may, subject to any conditions it may impose which do not impair the contractual obligations of the impaired insurer and which are approved by the Commissioner:
1. Guarantee, assume, reissue or reinsure, or cause to be guaranteed, assumed, reissued or reinsured, any or all of the covered policies or contracts of the impaired insurer.
2. Provide such money, pledges, loans, notes, guarantees or other means as are proper to effectuate subsection 1, and assure payment of the contractual obligations of the impaired insurer pending action under subsection 1.
Cite this article: FindLaw.com - Nevada Revised Statutes Title 57. Insurance § 686C.150. Powers regarding impaired insurers - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-57-insurance/nv-rev-st-686c-150/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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