Nevada Revised Statutes
Chapter 696B - Delinquent Insurers: Conservation, Rehabilitation and Liquidation
NRS 696B.480 - Assessment: Order and levy.


1. Upon the filing and reading of the report and petition provided for in NRS 696B.470, the court, ex parte, may order the Commissioner to assess all members or subscribers of the insurer who may be subject to such an assessment, in such an aggregate amount as the court finds reasonably necessary to pay all such valid claims as may be timely filed and proved in the delinquency proceedings, together with the costs and expenses of levying and collecting assessments and the costs and expenses of the delinquency proceedings in full. Any such order shall require the Commissioner to assess each such member or subscriber for his or her proportion of the aggregate assessment, according to such reasonable classification of such members or subscribers and formula as may be made by the Commissioner and approved by the court.
2. The court may order additional assessments upon the filing and reading of any amendment or supplement to the report and petition referred to in subsection 1, if such amendment or supplement is filed within 3 years after the date of the entry of the order of rehabilitation or liquidation.
3. After the entry of the order to levy and assess members or subscribers of an insurer referred to in subsection 1 or 2, the Commissioner shall levy and assess members or subscribers in accordance with the order.
4. The total of all assessments against any member or subscriber with respect to any policy, whether levied pursuant to this chapter or pursuant to any other provision of this Code, shall be for no greater amount than that specified in the policy or policies of the member or subscriber and as limited under this Code, except as to any policy which was issued at a rate of premium below the minimum rate lawfully permitted for the risk insured, in which event the assessment against any such policyholder shall be upon the basis of the minimum rate for such risk.
5. No assessment shall be levied against any member or subscriber with respect to any nonassessable policy issued in accordance with this Code.
(Added to NRS by 1971, 1901)

Structure Nevada Revised Statutes

Nevada Revised Statutes

Chapter 696B - Delinquent Insurers: Conservation, Rehabilitation and Liquidation

NRS 696B.010 - Short title.

NRS 696B.020 - Applicability of chapter.

NRS 696B.030 - Definitions.

NRS 696B.040 - "Ancillary state" defined.

NRS 696B.050 - "Creditor" defined.

NRS 696B.060 - "Delinquency proceeding" defined.

NRS 696B.070 - "Domiciliary state" defined.

NRS 696B.080 - "Foreign country" defined.

NRS 696B.090 - "General assets" defined.

NRS 696B.100 - "Impairment" defined.

NRS 696B.110 - "Insolvency" defined.

NRS 696B.120 - "Insurer" defined.

NRS 696B.130 - "Preferred claim" defined.

NRS 696B.140 - "Receiver" defined.

NRS 696B.150 - "Reciprocal state" defined.

NRS 696B.160 - "Secured claim" defined.

NRS 696B.170 - "Special deposit claim" defined.

NRS 696B.180 - "State" defined.

NRS 696B.190 - Jurisdiction of delinquency proceedings; venue; exclusiveness of remedy; appeal.

NRS 696B.200 - Jurisdiction over related persons and transactions; service of process.

NRS 696B.210 - Grounds for conservation or rehabilitation of domestic insurer or domiciled alien insurer.

NRS 696B.220 - Grounds for liquidation of domestic insurer or domiciled alien insurer.

NRS 696B.230 - Grounds for conservation: Foreign and alien insurers.

NRS 696B.240 - Grounds for ancillary liquidation: Foreign and alien insurers.

NRS 696B.250 - Commencement of delinquency proceeding: Petition; order to show cause.

NRS 696B.255 - Commissioner as receiver, rehabilitator or liquidator authorized to appoint special deputies and other persons and advisory committee; payment of costs.

NRS 696B.260 - Service of process.

NRS 696B.270 - Injunctions.

NRS 696B.280 - Uniform Insurers Liquidation Act and Insurer Receivership Model Act: Composition; severability; interpretation.

NRS 696B.290 - Conduct of delinquency proceedings against domestic insurers and certain alien insurers; appointment and payment of costs of special deputy commissioners and other persons.

NRS 696B.300 - Conduct of delinquency proceedings against foreign insurers.

NRS 696B.310 - Claims of nonresidents against domestic insurers.

NRS 696B.320 - Claims of residents against foreign insurers.

NRS 696B.330 - Claims: Form; date for filing; approval or denial by receiver; notice and report regarding determinations; objections; hearing; order.

NRS 696B.332 - Reporting and filing requirements of receiver; extension or modification of time.

NRS 696B.334 - Reporting and filing requirements of guaranty association; extension or modification of time.

NRS 696B.340 - Attachment and garnishment of or execution on insurer or assets prohibited during pendency of delinquency proceedings.

NRS 696B.350 - Limitations on enjoining, restraining or interfering with insurer’s business or appointment of receiver; action by judgment creditor.

NRS 696B.360 - Deposit of money.

NRS 696B.370 - Exemption of Commissioner from fees.

NRS 696B.380 - Borrowing on pledge of assets.

NRS 696B.390 - Termination of conservation or rehabilitation.

NRS 696B.400 - Date rights fixed on liquidation.

NRS 696B.410 - Prohibited and voidable transfers and liens.

NRS 696B.412 - Recovery by receiver of certain distributions on capital stock and payments to directors, officers and employees; scope of liability.

NRS 696B.415 - Disbursements to insurance guaranty associations; administrative expenses; claims for unearned premiums.

NRS 696B.420 - Order of distribution of claims from estate of insurer on liquidation.

NRS 696B.430 - Subordination of claims for failure to cooperate.

NRS 696B.440 - Offsets.

NRS 696B.450 - Allowance of certain claims.

NRS 696B.460 - Entry of order of insolvency; notice by Commissioner of time to file claims.

NRS 696B.470 - Report and petition for assessment.

NRS 696B.480 - Assessment: Order and levy.

NRS 696B.490 - Assessment: Prima facie correct; notice to members and subscribers; payment; proceedings to collect.

NRS 696B.500 - Summary proceedings: Commissioner’s corrective orders authorized.

NRS 696B.510 - Summary proceedings: Appeal from Commissioner’s order.

NRS 696B.520 - Summary proceedings: Enforcement; penalty.

NRS 696B.530 - Summary proceedings: Seizure under court order.

NRS 696B.540 - Summary proceedings: Seizure under Commissioner’s order.

NRS 696B.550 - Summary proceedings: Conduct of administrative and judicial hearings; confidentiality of records.

NRS 696B.560 - Summary proceedings: Penalty for refusal to deliver property and records.

NRS 696B.565 - Officers, agents, employees and attorneys of Division: Immunity from liability; indemnification.

NRS 696B.570 - Federal receivership.