Nevada Revised Statutes 686B.17645 – Duty to file with Commissioner formula to assess insurers for certain costs; approval of formula
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1. The Advisory Organization shall, at least 60 days before imposing an assessment pursuant to this section, file with the Commissioner a formula for an assessment on all insurers, which results in an equitable distribution among all insurers, of:
Terms Used In Nevada Revised Statutes 686B.17645
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
(a) The costs of paying the expenses of the members of the appeals panel for industrial insurance pursuant to the provisions of NRS 616B.770; and
(b) Any costs incurred by the Advisory Organization to administer the appeals panel for industrial insurance pursuant to the provisions of NRS 616B.760 to 616B.790, inclusive.
2. The formula for the assessment filed pursuant to subsection 1 shall be deemed approved unless it is disapproved by the Commissioner within 60 days after it is filed.