681A.520 - Managers: Sharing of interim profits. - Nevada Statutes

681A.520  Managers: Sharing of interim profits.  If a contract between a manager for reinsurance and the reinsurer he or she represents provides for a sharing of interim profits by the manager for reinsurance, the interim profits must not be paid until 1 year after the end of each underwriting period for property insurance and 5 years after the end of each underwriting period for casualty insurance, and not until the adequacy of reserves on remaining claims has been verified pursuant to NRS 681A.550.

      (Added to NRS by 1995, 1764)