682B.055 - Use of securities as deposit without delivery to Commissioner. - Nevada Statutes

682B.055  Use of securities as deposit without delivery to Commissioner.  The Commissioner:

      1.  May allow an insurer to use securities as a deposit or as a part of a deposit without delivering the securities to the Commissioner under the conditions specified in regulations adopted pursuant to subsection 1 of NRS 680A.140.

      2.  Shall allow any successor organization to the State Industrial Insurance System that was established by section 79 of chapter 642, Statutes of Nevada 1981, at page 1449, to use the money held in trust by the organization pursuant to NRS 616B.042 as a deposit or as a part of a deposit for authority to transact industrial insurance without delivering that money to the Commissioner.

      (Added to NRS by 1985, 609; A 1999, 1832)