686C.152 - Duties regarding insolvent insurers. - Nevada Statutes

686C.152  Duties regarding insolvent insurers.  If a member insurer is an insolvent insurer, the Association shall:

      1.  Guarantee, assume or reinsure, or cause to be guaranteed, assumed or reinsured, the policies or contracts of the insolvent insurer; or

      2.  Ensure payment of the contractual obligations of the insolvent insurer and:

      (a) Provide such money, pledges, loans, notes, guarantees or other means as are reasonably necessary to discharge its duties; or

      (b) Provide benefits and coverages in accordance with NRS 686C.153 and 686C.154.

      (Added to NRS by 1991, 865; A 2001, 1036)