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2019 Nevada Revised Statutes
Chapter 686C - Nevada Life and Health Insurance Guaranty Association
NRS 686C.150 - Powers regarding impaired insurers. [Effective through December 31, 2019.]
Universal Citation: NV Rev Stat § 686C.150 (2019)
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 or reinsure, or cause to be guaranteed, assumed 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.
(Added to NRS by 1973, 304; A 1991, 871; 2001, 1036)
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