Nevada Revised Statutes 696B.230 – Grounds for conservation: Foreign and alien insurers
Current as of: 2023 | Check for updates
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The Commissioner may apply to the court for an order appointing the Commissioner as receiver or ancillary receiver, and directing the Commissioner to conserve the assets within this state, of a foreign or alien insurer:
Terms Used In Nevada Revised Statutes 696B.230
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
1. Upon any of the applicable grounds specified in NRS 696B.210 or 696B.220;
2. Upon the ground that the insurer’s property has been sequestrated in its domiciliary sovereignty or in any other sovereignty; or
3. In the case of an alien insurer, upon the ground that the insurer has failed to make good an impairment of its trusteed funds within the time required therefor by order of the Commissioner.