1. The attorney or other parties may advance to a domestic reciprocal insurer upon reasonable terms such funds as it may require from time to time in its operations. Sums so advanced shall not be treated as a liability of the insurer, and, except upon liquidation of the insurer, shall not be withdrawn or repaid except out of the insurer’s realized earned surplus in excess of its minimum required surplus. No such withdrawal or repayment shall be made without the advance approval of the Commissioner.
2. This section does not apply to bank loans or to other loans made upon security.
(Added to NRS by 1971, 1830)
Structure Nevada Revised Statutes
Chapter 694B - Reciprocal Insurers
NRS 694B.010 - "Reciprocal" insurance defined.
NRS 694B.030 - Powers of reciprocal insurers.
NRS 694B.060 - Organization of reciprocal insurer.
NRS 694B.070 - Certificate of authority; disciplinary action for noncompliance.
NRS 694B.080 - Power of attorney.
NRS 694B.100 - Attorney’s bond.
NRS 694B.110 - Deposit in lieu of bond.
NRS 694B.120 - Action on bond.
NRS 694B.130 - Service of process; judgment.
NRS 694B.140 - Contributions to insurer.
NRS 694B.150 - Financial condition: Method of determining.
NRS 694B.160 - Persons eligible to be subscribers.
NRS 694B.170 - Subscribers’ advisory committee.
NRS 694B.180 - Subscribers’ liability.
NRS 694B.190 - Subscribers’ liability on judgment.
NRS 694B.210 - Time limit for assessments.
NRS 694B.220 - Aggregate liability.
NRS 694B.230 - Nonassessable policies.
NRS 694B.240 - Subscribers’ share in assets upon liquidation.