1.  Each employee or dependent of an employee who receives compensation pursuant to chapters 616A to 616D, inclusive, or chapter 617 of NRS for a permanent total disability, death or a permanent partial disability that was not paid in a lump sum pursuant to NRS 616C.495 may submit to the insurer or third-party administrator who pays the compensation a written notice directing the insurer or third-party administrator to deposit the compensation directly into the account of the employee or dependent specified by the employee or dependent in the written notice.

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2.  If an insurer or third-party administrator receives a written notice from an employee or dependent of an employee pursuant to subsection 1, the insurer or third-party administrator shall, in lieu of issuing a check, deposit the compensation paid by the insurer or third-party administrator directly into the account specified by the employee or dependent in the written notice.