Nevada Administrative Code
Chapter 683A - Persons Involved in Sale or Administration of Insurance
FIDUCIARY ACCOUNTS
Section 683A.430 - Curing of deficiency
Universal Citation: NV Admin Code 683A.430
Current through December 31, 2024
1. Any person having a deficit in his or her fiduciary account, as measured pursuant to NAC 683A.420, must cure the deficiency within 5 days after receiving notice of the deficiency from the Commissioner by:
(a) Depositing an amount equal to the deficiency in the trust account; and
(b) Sending a written explanation for the deficiency to the Commissioner.
2. The Commissioner will consider any person who fails to cure a deficiency in the fiduciary account pursuant to subsection 1, to be financially irresponsible pursuant to subsection 8 of NRS 683A.451.
Added to NAC by Comm'r of Insurance, eff. 12-3-84; A by R172-01, 7-5-2002
NRS 679B.130, 683A.400
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