reglab/housing_qa huggingface dataset:
NV Rev Stat § 696B.412 (2021)
2021 Nevada Revised Statutes|Chapter 696B - Delinquent Insurers: Conservation, Rehabilitation and Liquidation|NRS 696B.412 - Recovery by receiver of certain distributions on capital stock and payments to directors, officers and employees; scope of liability.

  1. Except as otherwise provided in subsections 2 and 4, if an order for liquidation or rehabilitation of a domestic insurer has been issued, the receiver appointed under the order may recover on behalf of the insurer:  (a) From any parent corporation, holding company, affiliate or person who otherwise controlled the insurer, the amount of any distribution, other than a distribution of shares of the same class of stock, made by the insurer on its capital stock; and  (b) Any payment in the form of a bonus, settlement on termination, or extraordinary adjustment of salary in a lump sum made by the insurer or a subsidiary to a director, officer or employee,  made during the year preceding the petition for liquidation, conservation or rehabilitation.  2. A distribution is not recoverable if the parent corporation, holding company or affiliate shows that when made the distribution was lawful and reasonable and that the insurer did not know and could not reasonably have known that the distribution might adversely affect the ability of the insurer to fulfill its contractual obligations.  3. A parent corporation, holding company or person who otherwise controlled the insurer or affiliate at the time the distribution or payment was made is liable up to the amount of the distribution or payment which he or she received. A person who otherwise controlled the insurer at the time a distribution was declared is liable up to the amount that would have been received if the distribution had been made immediately. If two or more persons are liable with respect to the same distribution, they are jointly and severally liable.  4. The greatest amount recoverable under this section is the amount needed in excess of all other available assets of the impaired or insolvent insurer to pay its contractual obligations and reimburse any guaranty fund.  5. To the extent that a person liable under subsection 3 is insolvent or otherwise fails to pay a claim due from it, a parent corporation, holding company or person who otherwise controlled it at the time the distribution was made is jointly and severally liable for any resulting deficiency in the amount recovered from the person so liable.  (Added to NRS by 2001, 2251)
NV Rev Stat § 696B.415 (2021)
2021 Nevada Revised Statutes|Chapter 696B - Delinquent Insurers: Conservation, Rehabilitation and Liquidation|NRS 696B.415 - Disbursements to insurance guaranty associations; claims for unearned premiums.

  1. Upon the issuance of an order of liquidation with a finding of insolvency against a domestic insurer, the Commissioner shall apply to the district court for authority to disburse money to the Nevada Insurance Guaranty Association or the Nevada Life and Health Insurance Guaranty Association out of the marshaled assets of the insurer, as money becomes available, in amounts equal to disbursements made or to be made by the Association for claims-handling expense and covered-claims obligations upon the presentation of evidence that disbursements have been made by the Association. The Commissioner shall apply to the district court for authority to make similar disbursements to insurance guaranty associations in other jurisdictions if one of the Nevada Associations is entitled to like payment pursuant to the laws relating to insolvent insurers in the jurisdiction in which the organization is domiciled.  2. The Commissioner, in determining the amounts available for disbursement to the Nevada Insurance Guaranty Association, the Nevada Life and Health Insurance Guaranty Association and similar organizations in other jurisdictions, shall reserve sufficient assets for the payment of the expenses of administration.  3. The Commissioner shall establish procedures for the ratable allocation of disbursements to the Nevada Insurance Guaranty Association, the Nevada Life and Health Insurance Guaranty Association and similar organizations in other jurisdictions, and shall secure from each organization to which money is paid as a condition to advances in reimbursement of covered-claims obligations an agreement to return to the Commissioner, on demand, amounts previously advanced which are required to pay claims of secured creditors and claims falling within the priorities established in paragraph (a) or (b) of subsection 1 of NRS 696B.420.  4. The Commissioner, as receiver for an insolvent insurer, may file a claim on behalf of all insureds for any unearned premiums. The Nevada Insurance Guaranty Association, the Nevada Life and Health Insurance Guaranty Association and similar organizations in other jurisdictions shall accept the claim in lieu of requiring each insured to file a claim for the unearned premium.  (Added to NRS by 1977, 439; A 1997, 3037; 1999, 2524; 2003, 3333)
NV Rev Stat § 696B.430 (2021)
2021 Nevada Revised Statutes|Chapter 696B - Delinquent Insurers: Conservation, Rehabilitation and Liquidation|NRS 696B.430 - Subordination of claims for failure to cooperate.

If an ancillary receiver in another state or foreign country, by whatever name called, fails to transfer to the domiciliary liquidator in this state any assets within the control of the ancillary receiver other than special deposits, diminished only by the expenses, if any, of the ancillary receivership, claims filed in the ancillary receivership, other than special deposit claims or secured claims, must be placed in the class of claims specified in paragraph (j) of subsection 1 of NRS 696B.420.  (Added to NRS by 1971, 1899; A 1997, 3040; 1999, 2526)
NV Rev Stat § 696B.440 (2021)
2021 Nevada Revised Statutes|Chapter 696B - Delinquent Insurers: Conservation, Rehabilitation and Liquidation|NRS 696B.440 - Offsets.

  1. Except as provided in subsection 2, in all cases of mutual debts or mutual credits between the insurer and another person in connection with any action or proceeding under this chapter, such credits and debts shall be setoff and the balance only shall be allowed or paid.  2. No offset shall be allowed in favor of any such person where:  (a) The obligation of the insurer to such person would not at the date of the entry of any liquidation order or otherwise, as provided in NRS 696B.400, entitle him or her to share as a claimant in the assets of the insurer;  (b) The obligation of the insurer to such person was purchased by or transferred to such person with a view of its being used as an offset; or  (c) The obligation of such person is to pay an assessment levied against the members of a mutual insurer, or against the subscribers of a reciprocal insurer, or is to pay a balance upon the subscription to the capital stock of a stock insurer.  (Added to NRS by 1971, 1899)
NV Rev Stat § 696B.450 (2021)
2021 Nevada Revised Statutes|Chapter 696B - Delinquent Insurers: Conservation, Rehabilitation and Liquidation|NRS 696B.450 - Allowance of certain claims.

  1. No contingent and unliquidated claim shall share in a distribution of the assets of an insurer which has been adjudicated to be insolvent by an order made pursuant to this chapter, except that such claim shall be considered, if properly presented, and may be allowed to share where:  (a) Such claim becomes absolute against the insurer on or before the last day for filing claims against the assets of such insurer; or  (b) There is a surplus and the liquidation is thereafter conducted upon the basis that such insurer is solvent.  2. Where an insurer has been so adjudicated to be insolvent any person who has a cause of action against an insured of such insurer under a liability insurance policy issued by such insurer shall have the right to file a claim in the liquidation proceeding, regardless of the fact that such claim may be contingent, and such claim may be allowed:  (a) If it may be reasonably inferred from the proof presented upon such claim that such person would be able to obtain a judgment upon such cause of action against such insured;  (b) If such person furnishes suitable proof, unless the court for good cause shown otherwise directs, that no further valid claim against such insurer arising out of his or her cause of action other than those already presented can be made; and  (c) If the total liability of such insurer to all claimants arising out of the same act of its insured is no greater than its maximum liability would be were it not in liquidation.  3. No judgment against such an insured taken after the date of entry of the liquidation order shall be considered in the liquidation proceedings as evidence of liability, or of the amount of damages, and no judgment against an insured taken by default, or by collusion prior to the entry of the liquidation order shall be considered as conclusive evidence in the liquidation proceedings, either of the liability of such insured to such person upon such cause of action or of the amount of damages to which such person is therein entitled.  4. No claim of any secured claimant shall be allowed at a sum greater than the difference between the value of the claim without security and the value of the security itself as of the date of the entry of the order of liquidation or such other date set by the court for determining rights and liabilities as provided in NRS 696B.400 unless the claimant surrenders his or her security to the Commissioner, in which event the claim shall be allowed in the full amount for which it is valued.  (Added to NRS by 1971, 1899)
NV Rev Stat § 696B.460 (2021)
2021 Nevada Revised Statutes|Chapter 696B - Delinquent Insurers: Conservation, Rehabilitation and Liquidation|NRS 696B.460 - Time to file claims.

  1. If upon the entry of an order of liquidation under this chapter or at any time thereafter during liquidation proceedings the insurer is not clearly solvent, the court shall, upon a hearing after such notice as it deems proper, make and enter an order adjudging the insurer to be insolvent.  2. After the entry of the order of insolvency, regardless of any prior notice that may have been given to creditors, the Commissioner shall notify all persons who may have claims against the insurer to file such claims with him or her, at a place and within the time specified in the notice, or that such claims shall be forever barred. The time specified in the notice shall be as fixed by the court for filing of claims, which shall be not less than 6 months after the entry of the order of insolvency. The notice shall be given in such manner and for such reasonable period of time as may be ordered by the court.  (Added to NRS by 1971, 1900)
NV Rev Stat § 696B.470 (2021)
2021 Nevada Revised Statutes|Chapter 696B - Delinquent Insurers: Conservation, Rehabilitation and Liquidation|NRS 696B.470 - Report and petition for assessment.

Within 3 years after the date of the entry of an order of rehabilitation or liquidation of a domestic mutual insurer or a domestic reciprocal insurer, the Commissioner may make and file a report and petition to the court setting forth:  1. The reasonable value of the assets of the insurer;  2. The liabilities of the insurer to the extent thus far ascertained by the Commissioner;  3. The aggregate amount of the assessment, if any, which the Commissioner deems reasonably necessary to pay all claims, the costs and expenses of the collection of the assessments and the costs and expenses of the delinquency proceedings in full; and  4. Any other information relative to the affairs or property of the insurer that the Commissioner deems material.  (Added to NRS by 1971, 1900)
NV Rev Stat § 696B.480 (2021)
2021 Nevada Revised Statutes|Chapter 696B - Delinquent Insurers: Conservation, Rehabilitation and Liquidation|NRS 696B.480 - Order and levy of assessment.

  1. Upon the filing and reading of the report and petition provided for in NRS 696B.470, the court, ex parte, may order the Commissioner to assess all members or subscribers of the insurer who may be subject to such an assessment, in such an aggregate amount as the court finds reasonably necessary to pay all such valid claims as may be timely filed and proved in the delinquency proceedings, together with the costs and expenses of levying and collecting assessments and the costs and expenses of the delinquency proceedings in full. Any such order shall require the Commissioner to assess each such member or subscriber for his or her proportion of the aggregate assessment, according to such reasonable classification of such members or subscribers and formula as may be made by the Commissioner and approved by the court.  2. The court may order additional assessments upon the filing and reading of any amendment or supplement to the report and petition referred to in subsection 1, if such amendment or supplement is filed within 3 years after the date of the entry of the order of rehabilitation or liquidation.  3. After the entry of the order to levy and assess members or subscribers of an insurer referred to in subsection 1 or 2, the Commissioner shall levy and assess members or subscribers in accordance with the order.  4. The total of all assessments against any member or subscriber with respect to any policy, whether levied pursuant to this chapter or pursuant to any other provision of this Code, shall be for no greater amount than that specified in the policy or policies of the member or subscriber and as limited under this Code, except as to any policy which was issued at a rate of premium below the minimum rate lawfully permitted for the risk insured, in which event the assessment against any such policyholder shall be upon the basis of the minimum rate for such risk.  5. No assessment shall be levied against any member or subscriber with respect to any nonassessable policy issued in accordance with this Code.  (Added to NRS by 1971, 1901)
NV Rev Stat § 696B.490 (2021)
2021 Nevada Revised Statutes|Chapter 696B - Delinquent Insurers: Conservation, Rehabilitation and Liquidation|NRS 696B.490 - Assessment prima facie correct; notice; payment; proceedings to collect.

  1. Any assessment of a subscriber or member of an insurer made by the Commissioner pursuant to the order of court fixing the aggregate amount of the assessment against all members or subscribers and approving the classification and formula made by the Commissioner under subsection 1 of NRS 696B.480 shall be prima facie correct.  2. Each member or subscriber shall be notified of the amount of the assessment to be paid by the member or subscriber by written notice mailed to the address of the member or subscriber last of record with the insurer. Failure of the member or subscriber to receive the notice so mailed, within the time specified therein or at all, shall be no defense in any proceeding to collect the assessment.  3. If any such member or subscriber fails to pay the assessment within the period specified in the notice, which period shall not be less than 20 days after mailing, the Commissioner may obtain an order in the delinquency proceedings requiring the member or subscriber to show cause at a time and place fixed by the court why judgment should not be entered against such member or subscriber for the amount of the assessment together with all costs, and a copy of the order and a copy of the petition therefor shall be served upon the member or subscriber within the time and in the manner designated in the order.  4. If the subscriber or member, after due service of a copy of the order and petition referred to in subsection 3 is made upon the subscriber or member:  (a) Fails to appear at the time and place specified in the order, judgment shall be entered against the subscriber or member as prayed for in the petition; or  (b) Appears in the manner and form required by law in response to the order, the court shall hear and determine the matter and enter a judgment in accordance with its decision.  5. The Commissioner may collect any such assessment through any other lawful means.  (Added to NRS by 1971, 1901)
NV Rev Stat § 696B.500 (2021)
2021 Nevada Revised Statutes|Chapter 696B - Delinquent Insurers: Conservation, Rehabilitation and Liquidation|NRS 696B.500 - Summary proceedings: Commissioner’s corrective orders authorized.

  1. If the Commissioner determines after a hearing that any insurer has committed or engaged in, or is committing or engaging in, or is about to commit or engage in any act, practice or transaction that would subject it to formal delinquency proceedings under this chapter, the Commissioner may make and serve upon the insurer and other persons involved, such orders (other than seizure orders under NRS 696B.530 and 696B.540) as the Commissioner deems reasonably necessary to correct, eliminate or remedy such conduct, condition or ground. Orders to cure impairment of capital or surplus of a domestic insurer are subject to NRS 693A.260 and 693A.270.  2. If the Commissioner believes that irreparable harm to the insurer, or its policyholders, creditors or the public may occur unless an order of the Commissioner is issued with immediate effect, the Commissioner may make and serve an order without notice and before hearing, and shall simultaneously therewith serve upon the insurer and other persons involved the notice of hearing as required under subsection 3.  3. The Commissioner’s order and notice of hearing shall be served by personal service in any manner provided by the Nevada Rules of Civil Procedure.  (Added to NRS by 1971, 1902)
NV Rev Stat § 696B.510 (2021)
2021 Nevada Revised Statutes|Chapter 696B - Delinquent Insurers: Conservation, Rehabilitation and Liquidation|NRS 696B.510 - Summary proceedings: Appeal from Commissioner’s order.

  1. If the Commissioner has issued a summary order before hearing as provided in subsection 2 of NRS 696B.500, any person upon whom such order is served may waive the Commissioner’s hearing and apply for any immediate judicial relief available under law and without first exhausting his or her administrative remedies.  2. NRS 679B.370 (appeal from Commissioner) applies to appeals from the Commissioner’s order made after hearing.  (Added to NRS by 1971, 1902)
NV Rev Stat § 696B.520 (2021)
2021 Nevada Revised Statutes|Chapter 696B - Delinquent Insurers: Conservation, Rehabilitation and Liquidation|NRS 696B.520 - Summary proceedings: Enforcement; penalty.

  1. The Commissioner may apply for and any district court may grant such restraining orders, temporary and permanent injunctions and other orders as may be deemed necessary to enforce the Commissioner’s order.  2. A violation of any order of the Commissioner issued under NRS 696B.500 by any person as to whom the order is in effect subjects the person to a penalty of not more than $10,000, to be collected in a civil action brought by the Attorney General in the name of the State of Nevada. The Attorney General shall deposit all money so collected in the State Treasury for credit to the State General Fund.  (Added to NRS by 1971, 1903; A 1979, 122; 1993, 573, 1924, 2267; 1995, 692)
NV Rev Stat § 696B.530 (2021)
2021 Nevada Revised Statutes|Chapter 696B - Delinquent Insurers: Conservation, Rehabilitation and Liquidation|NRS 696B.530 - Summary proceedings: Seizure under court order.

  1. Upon filing by the Commissioner in any district court of this state of his or her verified petition alleging any ground for a formal delinquency proceeding against an insurer under this chapter and that the interests of the insurer’s policyholders or creditors or the public will be jeopardized by delay, and setting forth the order deemed necessary by the Commissioner, the court shall, ex parte and without notice or hearing, issue the requested order. The requested order may:  (a) Direct the Commissioner to take possession and control of all or part of the property, books, accounts and records of the insurer and the premises occupied by it for transaction of its business; and  (b) Until further order of the court, enjoin the insurer and its officers, managers, agents and employees from removal, concealment or other disposition of its property, and from the transaction of its business, except with the Commissioner’s written consent.  2. The court’s order shall be for such duration, specified in the order, as the court deems necessary to enable the Commissioner to ascertain the insurer’s condition. On motion of any party or on its own motion, the court may hold such hearings as it deems desirable after such notice as it deems appropriate, and extend or shorten the duration or modify the terms of the order. The court shall vacate the seizure order if the Commissioner fails to commence a formal proceeding under this chapter after reasonable opportunity to do so; and a seizure order is automatically vacated by issuance of the court’s order pursuant to formal delinquency proceedings under this chapter.  3. Entry of a seizure order under this section does not constitute an anticipatory breach of any contract of the insurer.  (Added to NRS by 1971, 1903)
NV Rev Stat § 696B.540 (2021)
2021 Nevada Revised Statutes|Chapter 696B - Delinquent Insurers: Conservation, Rehabilitation and Liquidation|NRS 696B.540 - Summary proceedings: Seizure under Commissioner’s order.

  1. If it appears to the Commissioner that the interests of policyholders, creditors or the public will be jeopardized by delay incident to requesting a court seizure order, then on any ground which would justify a court seizure order under NRS 696B.530, and without notice and without applying to the court, the Commissioner may issue a seizure order which must contain a statement verified by the Commissioner of the grounds of the Commissioner’s action. As directed by the seizure order, the Commissioner’s representatives shall forthwith take possession and control of all or part of the property, books, accounts and records of the insurer, and of the premises occupied by the insurer for transaction of its business. The Commissioner shall retain possession and control until the order is vacated or is replaced by an order of court pursuant to subsection 2, or pursuant to a formal proceeding under this chapter.  2. At any time after seizure under subsection 1, the insurer may apply to the district court for Carson City. The court shall thereupon order the Commissioner to appear forthwith and shall thereafter proceed as if the order were a court seizure order issued under NRS 696B.530.  3. Every peace officer of this state shall assist the Commissioner in making and enforcing any such seizure, and every sheriff and police department shall furnish the Commissioner with such deputies, patrol officers or other officers as are necessary for the purpose.  4. Entry of a seizure order under this section does not constitute an anticipatory breach of any contract of the insurer.  (Added to NRS by 1971, 1904)