"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)
Structure Nevada Revised Statutes
Chapter 695E - Liability Risk Retention
NRS 695E.010 - Statement of purpose.
NRS 695E.030 - "Completed operations liability" defined.
NRS 695E.040 - "Domicile" defined.
NRS 695E.050 - "Hazardous financial condition" defined.
NRS 695E.060 - "Liability" defined.
NRS 695E.070 - "Personal risk liability" defined.
NRS 695E.080 - "Plan of operation" defined.
NRS 695E.090 - "Product liability" defined.
NRS 695E.100 - "Purchasing group" defined.
NRS 695E.110 - "Risk retention group" defined.
NRS 695E.125 - Notification of change in information provided to Commissioner.
NRS 695E.130 - Purchase of insurance; exemption from certain laws.
NRS 695E.135 - Extent of liability for payment of premium tax.
NRS 695E.160 - Submission of financial statement, examinations, audits and other information.
NRS 695E.170 - Applicability of other provisions; duties of agent or broker.
NRS 695E.180 - Notice required in policy.
NRS 695E.200 - Prohibited acts.
NRS 695E.220 - Annual notice of intent to continue doing business in Nevada.