Nevada Administrative Code
Chapter 683A - Persons Involved in Sale or Administration of Insurance
MANAGING GENERAL AGENTS
Section 683A.490 - Retention of reserve; assignment of contract with insurer
Universal Citation: NV Admin Code 683A.490
Current through December 31, 2024
A managing general agent shall not:
1. Retain more than 3 months' reserve for:
(a) An amount estimated to be necessary to pay all of the unpaid claims of the insurer; and
(b) The allocated loss adjustment expenses, in the account set up for the insurer pursuant to the requirements of NAC 683A.480.
2. Assign any part of his or her contract with the insurer required pursuant to NAC 683A.470.
Added to NAC by Comm'r of Insurance, eff. 9-19-90
NRS 679B.130
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