Nevada Administrative Code
Chapter 681B - Insurance: Assets and Liabilities
RISK-BASED CAPITAL OF INSURERS
Events Requiring Mandatory Control
Section 681B.545 - Identification of events
Current through September 16, 2024
The following constitute events that require mandatory control:
1. The filing by an insurer or health organization of a report on risk-based capital which indicates that the total adjusted capital of the insurer or health organization is less than its mandatory control level of risk-based capital; or
2. Notification by the Commissioner to an insurer an insurer or health organization that the Commissioner has adjusted a report on risk-based capital of the insurer or health organization in accordance with NAC 681B.485 and that the adjusted report on risk-based capital indicates a situation described in subsection 1, except that if the insurer or health organization challenges the adjustment pursuant to NAC 681B.580, the event that requires mandatory control is the notification by the Commissioner to the insurer e insurer or health organization that the Commissioner has, after a hearing, rejected the challenge of the insurer or health organization
Added to NAC by Comm'r of Insurance by R088-97, eff. 3-19-98; A by R132-13, eff. 10/1/2014
NRS 679B.130, 681B.290
