Nevada Administrative Code
Chapter 681A - Kinds of Insurance; Reinsurance
REINSURANCE TRANSACTIONS
Section 681A.360 - Letter of credit obtained in conjunction with reinsurance agreement: Requirement that parties enter into trust agreement under certain circumstances
Universal Citation: NV Admin Code 681A.360
Current through February 27, 2024
If a letter of credit is obtained in conjunction with a reinsurance agreement covering risks other than life, annuities and health, and it is customary practice to provide a letter of credit for a specific purpose, the reinsurance agreement may, in lieu of containing any provision authorized by NAC 681A.350, require that the parties to the reinsurance agreement enter into a trust agreement which may be incorporated into the reinsurance agreement or be a separate document.
Added to NAC by Comm'r of Insurance, eff. 6-28-96
NRS 679B.130, 681A.130
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