Nevada Revised Statutes 695D.153 – Capital account: Minimum amount; requirements
1. Each organization for dental care which receives a certificate of authority shall maintain a capital account with a net worth of not less than $500,000 unless a lesser amount is permitted in writing by the Commissioner.
Terms Used In Nevada Revised Statutes 695D.153
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
2. An organization for dental care which has been issued a certificate of authority pursuant to this chapter shall maintain a capital account with a net worth in an amount which is not less than the greater of:
(a) The amount of risk-based capital required by regulations adopted by the Commissioner pursuant to NRS 681B.550; or
(b) The following applicable amount, according to the number of members in the organization:
3. The account must not be obligated for any accrued liabilities and must consist of cash, securities or a combination thereof which is acceptable to the Commissioner.