If for any reason the market value of assets of an insurer held on deposit in this state falls below the amount required under this Code, the insurer shall promptly deposit other or additional assets eligible for deposit sufficient to cure the deficiency. If the insurer has failed to cure the deficiency within 20 days after receipt of notice thereof by registered or certified mail from the Commissioner, the Commissioner shall forthwith revoke the insurer’s certificate of authority.
(Added to NRS by 1971, 1632)
Structure Nevada Revised Statutes
NRS 682B.010 - Authorized deposits.
NRS 682B.015 - Additional deposit.
NRS 682B.020 - Purpose of deposit.
NRS 682B.030 - Securities eligible for deposit.
NRS 682B.050 - Custodial arrangements.
NRS 682B.055 - Use of securities as deposit without delivery to Commissioner.
NRS 682B.060 - Assignment, transfer and conveyance of assets; release.
NRS 682B.080 - Excess deposits.
NRS 682B.090 - Rights of insurer during solvency.
NRS 682B.100 - Levy upon deposit.
NRS 682B.110 - Deficiency of deposit.
NRS 682B.120 - Duration and release of deposit.
NRS 682B.130 - Deposit of assets in trust.
NRS 682B.140 - Purpose and duration.
NRS 682B.150 - Trust agreement: Approval.
NRS 682B.160 - Trust agreement: Amendment.
NRS 682B.170 - Withdrawal of approval.
NRS 682B.180 - Title to assets.
NRS 682B.190 - Assets kept separate.
NRS 682B.200 - Statement of trustee: Filing; disciplinary action for failure to file timely.
NRS 682B.210 - Examination of assets.
NRS 682B.220 - Withdrawal of assets.
NRS 682B.230 - Substitution of trustee.