NRS 616B.395 – Examination of books, records, accounts and assets of association by Commissioner; payment of related expenses.
1. The Commissioner may examine the books, records, accounts and assets of an association of self-insured public or private employers as the Commissioner deems necessary to carry out the provisions of NRS 616B.350 to 616B.446, inclusive. 2. The expense of any examination conducted pursuant to this section must be paid by the association. (Added to […]
NRS 616B.398 – Commissioner is attorney-in-fact of association for receipt of initial legal process.
An association of self-insured public or private employers shall be deemed to have appointed the Commissioner as its attorney-in-fact to receive any initial legal process authorized by law to be served upon the association for as long as the association is obligated to pay any compensation under chapters 616A to 616D, inclusive, or chapter 617 […]
NRS 616B.353 – Indemnity agreement; policy of excess insurance; assessment; bond or similar security; minimum combined tangible net worth; combined net cash flows; bond required of association’s administrator or third-party administrator; Account for Associations of Self-Insured Public and Private Employers.
1. An association of self-insured public or private employers shall: (a) Execute an indemnity agreement jointly and severally binding the association and each member of the association to secure the payment of all compensation due pursuant to chapters 616A to 617, inclusive, of NRS. The indemnity agreement must be in a form prescribed by the […]
NRS 616B.356 – Certificate of authority required before surety or bonding company may furnish bond or other security for association.
A surety or bonding company shall not furnish a bond or any other form of security required by the provisions of chapters 616A to 616D, inclusive, or chapter 617 of NRS for an association of self-insured public or private employers or a member of such an association unless the surety or bonding company holds a […]
NRS 616B.359 – Certificate of qualification as an association of self-insured employers: Time for consideration of application; issuance by Commissioner; contents; effective date; period certificate is in effect; cancellation by association.
1. The Commissioner shall grant or deny an application for certification as an association of self-insured public or private employers within 60 days after receiving the application. If the application is materially incomplete or does not comply with the applicable provisions of the law, the Commissioner shall notify the applicant of the additional information or […]
NRS 616B.362 – Effect of certification; responsibility of association to provide compensation and administer claims.
1. An association certified as an association of self-insured public or private employers directly assumes the responsibility for providing compensation due the employees of the members of the association and their beneficiaries under chapters 616A to 617, inclusive, of NRS. 2. An association is not required to pay the premiums required of other employers pursuant […]
NRS 616B.365 – Board of trustees: Members; duties; prohibited acts.
1. An association of self-insured public or private employers must be operated by a board of trustees consisting of at least five members whom the members of the association elect for terms set forth in the bylaws of the association. If the association is an association of self-insured: (a) Public employers, the members of the […]
NRS 616B.368 – Board of trustees: Fiscal responsibilities; establishment of accounts; review of accounts by Commissioner.
1. The board of trustees of an association of self-insured public or private employers is responsible for the money collected and disbursed by the association. 2. The board of trustees shall: (a) Establish a claims account in a financial institution in this State which is approved by the Commissioner and which is federally insured or […]
NRS 616B.371 – Association’s administrator prohibited from financial interest in third-party administrator; third-party administrator prohibited from financial interest in association’s administrator; contractual requirement.
1. An association’s administrator employed by an association of self-insured public or private employers, or an employee, officer or director of an association’s administrator, may not be an employee, officer or director of a third-party administrator employed by the association or have a direct or indirect financial interest in the third-party administrator of the association. […]
NRS 616B.374 – Solicitor’s permit: Advertising or offering for sale membership in proposed association of self-insured public or private employers without permit prohibited; application for permit; fee; penalty; exceptions.
1. Except as otherwise provided in this section, a person shall not advertise or offer for sale in this State any policies or memberships or solicit or receive any money, subscriptions, applications, premiums, assessments, memberships or any other fee or charge in connection with a proposed association of self-insured public or private employers unless the […]