Nevada Revised Statutes 694C.115 – ‘Participant contract’ defined
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‘Participant contract‘ means a contract by which a sponsored captive insurer insures the risks of a participant and limits the losses of each such participant to its pro rata share of the assets of one or more protected cells identified in the participant contract.
Terms Used In Nevada Revised Statutes 694C.115
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.