Upon the liquidation of a domestic reciprocal insurer, its assets remaining after the discharge of its indebtedness and policy obligations, the return of any contributions of the attorney or other persons to its surplus, and the return of any unused premiums, savings or credits then standing on subscribers’ accounts shall be distributed to its subscribers who were such within the 12 months prior to the last termination of its certificate of authority, according to such reasonable formula as the Commissioner may approve.
(Added to NRS by 1971, 1834)
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.