Nevada Revised Statutes 690C.040 – ‘Contractual liability insurance policy’ defined
Current as of: 2023 | Check for updates
|
Other versions
‘Contractual liability insurance policy’ means a policy of insurance that is issued to a provider to either:
Terms Used In Nevada Revised Statutes 690C.040
- Contract: A legal written agreement that becomes binding when signed.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
1. Reimburse the provider under the terms of a service contract issued or sold by the provider; or
2. If the provider does not satisfy his or her obligation under a service contract, pay on behalf of the provider any money the provider has an obligation to pay under the service contract.