Nevada Revised Statutes 681A.220 – Limitation on credit allowed when assuming insurer does not meet certain requirements
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Credit must be allowed if reinsurance is ceded to an assuming insurer not meeting the requirements of NRS 681A.110, 681A.150 to 681A.190, inclusive, and NRS 681A.211 to 681A.217, inclusive, but only with respect to the insurance of risks located in jurisdictions where such reinsurance is required by applicable law or regulation of that jurisdiction.
Terms Used In Nevada Revised Statutes 681A.220
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.