Nevada Revised Statutes 686C.310 – Provision of information and advice by Board of Directors relating to financial condition of insurers
1. The Board of Directors may, upon majority vote, notify the Commissioner of any information indicating any member insurer may be impaired or insolvent.
Terms Used In Nevada Revised Statutes 686C.310
- Germane: On the subject of the pending bill or other business; a strict standard of relevance.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
2. The Board may, upon majority vote, make reports and recommendations to the Commissioner upon any matter germane to the solvency, liquidation, rehabilitation or conservation of any member insurer or germane to the solvency of any person seeking admission to transact insurance or operate a health maintenance organization in this state. These reports and recommendations are not open to public inspection.
3. The Commissioner may seek the advice and recommendations of the Board concerning any matter affecting the duties and responsibilities of the Commissioner regarding the financial condition of member insurers and of persons seeking admission to transact insurance or operate a health maintenance organization in this state.
4. The Board may, upon majority vote, make recommendations to the Commissioner for the detection and prevention of the insolvency of member insurers.