Nev. Rev. Stat. § 682B.150

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1

Section 682B.150 - Trust agreement: Approval

1. The deposit referred to in NRS 682B.130 shall be made and maintained under a written trust agreement between the insurer and the trustee, consistent with the requirements of NRS 682B.130 to 682B.250, inclusive, and shall be authenticated in such form and manner as the Commissioner may designate or approve.

2. The agreement shall not be effective until filed with and approved by the Commissioner in writing. The Commissioner shall not approve any trust agreement found by the Commissioner not to be in compliance with law, or the terms of which do not in fact provide reasonably adequate protection for the insurer's policyholders or policyholders and creditors in the United States of America.

NRS 682B.150

Added to NRS by 1971, 1633