Nev. Admin. Code § 681A.360

Current through December 12, 2024

Section 681A.360 - Letter of credit obtained in conjunction with reinsurance agreement: Requirement that parties enter into trust agreement under certain circumstances

If a letter of credit is obtained in conjunction with a reinsurance agreement covering risks other than life, annuities and health, and it is customary practice to provide a letter of credit for a specific purpose, the reinsurance agreement may, in lieu of containing any provision authorized by NAC 681A.350, require that the parties to the reinsurance agreement enter into a trust agreement which may be incorporated into the reinsurance agreement or be a separate document.

Nev. Admin. Code § 681A.360

Added to NAC by Comm'r of Insurance, eff. 6-28-96

NRS 679B.130, 681A.130