NRS 616B.350 – Qualification as association of self-insured public or private employers; application for certification; fee; confidentiality of financial information submitted for certification.

1. A group of five or more employers may not act as an association of self-insured public employers unless the group: (a) Is composed of employers engaged in the same or similar classifications of employment; and (b) Has been issued a certificate to act as such an association by the Commissioner. 2. A group of […]

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 […]

NRS 616B.377 – Solicitor’s permit: Commissioner to conduct investigation after filing of application for permit; required issuance of permit; Commissioner to give notice to applicant if application denied; fee nonrefundable.

1. After the filing of an application for a solicitor’s permit, the Commissioner shall promptly cause an investigation to be made of: (a) The identity, character, reputation, experience, financial standing and motives of the persons proposing to organize, promote or finance the association of self-insured public or private employers; (b) The character, financial responsibility, management […]

NRS 616B.380 – Solicitor’s permit: Power of Commissioner to suspend or revoke permit; hearing required.

1. The Commissioner may suspend or revoke a solicitor’s permit if the Commissioner reasonably believes that: (a) A violation of this chapter or chapter 616A, 616C, 616D or 617 of NRS or title 57 of NRS or the terms of the permit or any proper order of the Commissioner has occurred; or (b) A material […]

NRS 616B.383 – Advertisements or written materials to join association of self-insured public or private employers; solicitor to provide to Commissioner upon request copy of document relating to solicitation.

1. Any advertising or written material that solicits employers to join an association of self-insured public or private employers must contain the permit number of the solicitor. 2. A solicitor shall provide to the Commissioner upon request a copy of any document relating to a solicitation which was prepared after the solicitor filed his or […]

NRS 616B.386 – Membership in association: Application; eligibility; authority of association to determine eligibility; termination by member; cancellation by association; information to be provided to Commissioner; provision of compensation after membership has ceased.

1. If an employer wishes to become a member of an association of self-insured public or private employers, the employer must: (a) Submit an application for membership to the board of trustees or third-party administrator of the association; and (b) Enter into an indemnity agreement as required by NRS 616B.353. 2. The membership of the […]

NRS 616B.388 – Provision of member information upon request.

If a member of an association of self-insured public or private employers requests, in writing, information required for the member’s certificate of insurance, the association shall, within 30 days after receiving the request, provide to the member information regarding claims paid and reserves for claims incurred that are maintained on behalf of the member. (Added […]

NRS 616B.392 – Notification of Commissioner required if change in information submitted for certification.

1. An association of self-insured public or private employers shall notify the Commissioner of any change in the information submitted in its application for certification or in the manner of its compliance with NRS 616B.353 not later than 30 days after the change. 2. For the purposes of this section, the addition of an employer […]

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.401 – Merger of associations.

1. An association of self-insured public employers may merge with another association of self-insured public employers if: (a) The resulting association assumes in full all obligations of the merging associations; and (b) The merger is approved by the Commissioner. 2. An association of self-insured private employers may merge with another association of self-insured private employers […]

NRS 616B.404 – Statement of financial condition: Filing dates; contents; form; additional reports.

1. An association of self-insured public or private employers shall file with the Commissioner an audited statement of financial condition prepared by an independent certified public accountant. The statement must be filed on or before May 1 of each year or within 120 days after the conclusion of the association’s fiscal year and must contain […]

NRS 616B.407 – Calculation of annual assessment paid by each member of association.

1. Except as otherwise provided in subsection 2, the annual assessment required to be paid by each member of an association of self-insured public or private employers must be: (a) Calculated by a rate service organization that is licensed pursuant to chapter 686B of NRS; and (b) Based on the premium rate for the standard […]