616B.401 - Merger of associations. - Nevada Statutes

616B.401  Merger of associations.

      1.  An association of self-insured public employers may merge with another association of self-insured public employers if:

      (a) The resulting association assumes in full all obligations of the merging associations; and

      (b) The merger is approved by the Commissioner.

      2.  An association of self-insured private employers may merge with another association of self-insured private employers if:

      (a) The members of the merging associations are engaged in the same or similar trade;

      (b) The resulting association assumes in full all obligations of the merging associations; and

      (c) The merger is approved by the Commissioner.

      3.  The Commissioner shall conduct a hearing on the proposed merger if any member of the merging associations so requests. The Commissioner may on his or her own motion conduct such a hearing.

      (Added to NRS by 1993, 675; A 1995, 1984)—(Substituted in revision for NRS 616.37947)