NRS 682B.020 Purpose of deposit.

128 words·~1 min read·/nv/chapter-682b-deposits/682b-020

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

1. Deposits made in this state under NRS 680A.140 and 680A.330 (retaliatory provision) shall be held in trust for the respective purposes stated in those sections.

2. A deposit made in this state by a domestic insurer transacting insurance in another state, province or country, and as required by the laws of such other state, province or country, shall be held for the protection of all the insurer’s policyholders or all its policyholders and creditors or for such other purpose or purposes as may be specified pursuant to such laws.

3. Deposits required under NRS 680A.330 (retaliatory provision) shall be held for such purposes as are required by such section, and as specified by the Commissioner’s order requiring such deposit to be made.