Nev. Rev. Stat. § 696B.230

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

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

The Commissioner may apply to the court for an order appointing the Commissioner as receiver or ancillary receiver, and directing the Commissioner to conserve the assets within this state, of a foreign or alien insurer:

1. Upon any of the applicable grounds specified in NRS 696B.210 or 696B.220;

2. Upon the ground that the insurer's property has been sequestrated in its domiciliary sovereignty or in any other sovereignty; or

3. In the case of an alien insurer, upon the ground that the insurer has failed to make good an impairment of its trusteed funds within the time required therefor by order of the Commissioner.

NRS 696B.230

Added to NRS by 1971, 1889