Nevada Administrative Code
Chapter 681A - Kinds of Insurance; Reinsurance
CERTIFIED REINSURERS
Section 681A.510 - Additional requirements for reinsurance agreements
Universal Citation: NV Admin Code 681A.510
Current through September 16, 2024
In addition to the requirements in NAC 681A.375, a reinsurance agreement entered into pursuant to NAC 681A.400 to 681A.520, inclusive, must include a funding clause which requires the certified reinsurer to provide and maintain security in an amount sufficient to avoid the imposition of any financial statement penalty on the ceding insurer for an insurance or reinsurance obligation ceded to the certified reinsurer.
Added to NAC by Comm'r of Insurance by R079-16A, eff. 11/2/2016
NRS 679B.130, 681A.130
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