Nev. Rev. Stat. § 695E.050

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

Section 695E.050 - "Hazardous financial condition" defined

"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.

NRS 695E.050

Added to NRS by 1987, 1328

Added to NRS by 1987, 1328