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2022 Nevada Revised Statutes
Chapter 695E - Liability Risk Retention
NRS 695E.050 - "Hazardous financial condition" defined.
Universal Citation: NV Rev Stat § 695E.050 (2022)
"Hazardous financial condition" means that, based on its present or reasonably anticipated financial condition, a risk retention group, although not yet financially impaired or insolvent, is unlikely to be able to:
1. Meet obligations to policyholders with respect to known claims and reasonably anticipated claims; or
2. Pay other obligations in the normal course of business.
(Added to NRS by 1987, 1328)
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