616C.408 - Restrictive endorsements on checks issued by insurers. - Nevada Statutes

616C.408  Restrictive endorsements on checks issued by insurers.

      1.  An insurer shall not issue a check pursuant to the provisions of chapters 616A to 616D, inclusive, or chapter 617 of NRS for the payment of permanent total disability benefits that includes a restrictive endorsement.

      2.  An insurer may issue a check pursuant to the provisions of chapters 616A to 616D, inclusive, or chapter 617 of NRS for the payment of temporary total disability, temporary partial disability, permanent partial disability, rehabilitation maintenance benefits or compensation paid pursuant to subsection 1 of NRS 616C.477 that includes a restrictive endorsement.

      3.  If an insurer issues a check that includes a restrictive endorsement pursuant to subsection 2, the restrictive endorsement must:

      (a) Clearly and accurately state the restrictive conditions; and

      (b) Not provide for any condition or restriction not authorized under the provisions of chapters 616A to 616D, inclusive, or chapter 617 of NRS.

      (Added to NRS by 2003, 1247; A 2005, 101)