686C.285 - Protest by member insurer. - Nevada Statutes

686C.285  Protest by member insurer.

      1.  A member insurer that wishes to protest all or part of an assessment shall pay the full amount of the assessment when due, as set forth in the notice from the Association. The payment may be used to meet obligations of the Association during the pendency of the assessment and any subsequent appeal. Payment must be accompanied by a statement in writing that the payment is made under protest and setting forth briefly the grounds for the protest.

      2.  Within 60 days after the payment of an assessment under protest, the Association shall notify the member insurer in writing of the determination of the Association with respect to the protest, unless the Association notifies the member insurer that additional time is required to resolve the issues raised by the protest.

      3.  Within 30 days after a final decision is made, the Association shall notify the protesting member insurer in writing of the final decision. Within 60 days after receipt of that notice, the protesting member insurer may appeal the decision to the Commissioner.

      4.  As an alternative to making a final decision with respect to a protest concerning the basis of assessment, the Association may refer the protest to the Commissioner for a final decision, with or without a recommendation from the Association.

      5.  If a protest or appeal is upheld, the amount paid in error or excess must be returned to the member insurer. Interest must be paid on the refund at the rate actually earned by the Association.

      (Added to NRS by 2001, 1029)