reglab/housing_qa huggingface dataset:
NV Rev Stat § 686C.140 (2021)
2021 Nevada Revised Statutes|Chapter 686C - Nevada Life and Health Insurance Guaranty Association|NRS 686C.140 - Board of Directors: Members; vacancies; initial selection; reimbursement of expenses. [Effective January 1, 2020.]

  1. The Board of Directors of the Association consists of not less than 7 nor more than 11 members, serving terms as established in the plan of operation.  2. The members of the Board who represent member insurers must be selected by member insurers subject to the approval of the Commissioner. If practicable, one of the members of the Board must be an officer of a domestic member insurer.  3. Two public representatives must be appointed to the Board by the Commissioner. A public representative may not be an officer, director or employee of a member insurer, engaged in the business of insurance or a health maintenance organization.  4. Vacancies on the Board must be filled for the remaining period of the term by majority vote of the members of the Board, subject to the approval of the Commissioner, for members who represent member insurers, and by the Commissioner for public representatives.  5. To select the initial Board of Directors, and initially organize the Association, the Commissioner shall give notice to all member insurers of the time and place of the organizational meeting. In determining voting rights at the organizational meeting, each member insurer is entitled to one vote in person or by proxy. If the Board of Directors is not selected within 60 days after notice of the organizational meeting, the Commissioner may appoint the initial members to represent member insurers in addition to the public representatives.  6. In approving selections or in appointing members to the Board, the Commissioner shall consider, among other things, whether all member insurers are fairly represented.  7. Members of the Board may be reimbursed from the assets of the Association for expenses incurred by them as members of the Board of Directors, but members of the Board may not otherwise be compensated by the Association for their services.  (Added to NRS by 1973, 303; A 2001, 1035; 2003, 2805; 2019, 1089, effective January 1, 2020)
NV Rev Stat § 686C.150 (2021)
2021 Nevada Revised Statutes|Chapter 686C - Nevada Life and Health Insurance Guaranty Association|NRS 686C.150 - Powers regarding impaired insurers. [Effective through December 31, 2019.]

If a member insurer is an impaired insurer, the Association may, subject to any conditions it may impose which do not impair the contractual obligations of the impaired insurer and which are approved by the Commissioner:  1. Guarantee, assume or reinsure, or cause to be guaranteed, assumed or reinsured, any or all of the covered policies or contracts of the impaired insurer.  2. Provide such money, pledges, loans, notes, guarantees or other means as are proper to effectuate subsection 1, and assure payment of the contractual obligations of the impaired insurer pending action under subsection 1.  (Added to NRS by 1973, 304; A 1991, 871; 2001, 1036)
NV Rev Stat § 686C.150 (2021)
2021 Nevada Revised Statutes|Chapter 686C - Nevada Life and Health Insurance Guaranty Association|NRS 686C.150 - Powers regarding impaired insurers. [Effective January 1, 2020.]

If a member insurer is an impaired insurer, the Association may, subject to any conditions it may impose which do not impair the contractual obligations of the impaired insurer and which are approved by the Commissioner:  1. Guarantee, assume, reissue or reinsure, or cause to be guaranteed, assumed, reissued or reinsured, any or all of the covered policies or contracts of the impaired insurer.  2. Provide such money, pledges, loans, notes, guarantees or other means as are proper to effectuate subsection 1, and assure payment of the contractual obligations of the impaired insurer pending action under subsection 1.  (Added to NRS by 1973, 304; A 1991, 871; 2001, 1036; 2019, 1089, effective January 1, 2020)
NV Rev Stat § 686C.152 (2021)
2021 Nevada Revised Statutes|Chapter 686C - Nevada Life and Health Insurance Guaranty Association|NRS 686C.152 - Duties regarding insolvent insurers. [Effective through December 31, 2019.]

If a member insurer is an insolvent insurer, the Association shall:  1. Guarantee, assume or reinsure, or cause to be guaranteed, assumed or reinsured, the policies or contracts of the insolvent insurer; or  2. Ensure payment of the contractual obligations of the insolvent insurer and:  (a) Provide such money, pledges, loans, notes, guarantees or other means as are reasonably necessary to discharge its duties; or  (b) Provide benefits and coverages in accordance with NRS 686C.153 and 686C.154.  (Added to NRS by 1991, 865; A 2001, 1036)
NV Rev Stat § 686C.152 (2021)
2021 Nevada Revised Statutes|Chapter 686C - Nevada Life and Health Insurance Guaranty Association|NRS 686C.152 - Duties regarding insolvent insurers. [Effective January 1, 2020.]

If a member insurer is an insolvent insurer, the Association shall:  1. Guarantee, assume, reissue or reinsure, or cause to be guaranteed, assumed, reissued or reinsured, the policies or contracts of the insolvent insurer; or  2. Ensure payment of the contractual obligations of the insolvent insurer and:  (a) Provide such money, pledges, loans, notes, guarantees or other means as are reasonably necessary to discharge its duties; or  (b) Provide benefits and coverages in accordance with NRS 686C.153 and 686C.154.  (Added to NRS by 1991, 865; A 2001, 1036; 2019, 1090, effective January 1, 2020)
NV Rev Stat § 686C.153 (2021)
2021 Nevada Revised Statutes|Chapter 686C - Nevada Life and Health Insurance Guaranty Association|NRS 686C.153 - Provision of substitute benefits and coverage with respect to life and health insurance policies and annuities. [Effective through December 31, 2019.]

When proceeding pursuant to paragraph (b) of subsection 2 of NRS 686C.152, the Association shall:  1. With respect to life and health insurance policies and annuities, ensure payment of benefits for premiums identical to the premiums and benefits, except for terms of conversion and renewability, which would have been payable under policies or contracts of the insolvent insurer, for claims incurred with respect to:  (a) A group policy or contract, not later than the earlier of the next renewal date under the policy or contract or 45 days, but in no event less than 30 days, after the date when the Association becomes obligated with respect to that policy or contract.  (b) A nongroup policy, contract or annuity, not later than the earlier of the next renewal date, if any, under the policy, contract or annuity or 1 year, but in no event less than 30 days, after the date when the Association becomes obligated with respect to that policy, contract or annuity.  2. Make diligent efforts to provide all known insureds or owners with respect to group policies or contracts, or annuitants with respect to annuities, 30 days’ notice of termination of the benefits provided pursuant to subsection 1.  3. With respect to nongroup life and health insurance policies and annuities, make available substitute coverage on an individual basis, in accordance with the provisions of subsection 4, to each known insured or annuitant, or owner if other than the insured or annuitant, and to each natural person formerly insured, or formerly an annuitant, under a group policy who is not eligible for replacement group coverage, if the insured or annuitant had a right under law or the terminated policy or annuity to convert coverage to individual coverage or to continue an individual policy or annuity in force until a specified age or for a specified period, during which the insurer had no right unilaterally to make changes in any provision of the policy or annuity or had a right only to make changes in premium by class.  4. In providing the substitute coverage required under subsection 3, the Association may offer to reissue the terminated coverage or to issue an alternative policy that must be offered without requiring evidence of insurability or a waiting period or exclusion that would not have applied under the terminated policy, and may reinsure any alternative or reinsured policy.  (Added to NRS by 1991, 865; A 2001, 1036)
NV Rev Stat § 686C.153 (2021)
2021 Nevada Revised Statutes|Chapter 686C - Nevada Life and Health Insurance Guaranty Association|NRS 686C.153 - Provision of substitute benefits and coverage with respect to covered policies or contracts. [Effective January 1, 2020.]

  1. When proceeding pursuant to paragraph (b) of subsection 2 of NRS 686C.152, the Association shall:  (a) With respect to covered policies or contracts, ensure payment of benefits that would have been payable under the policies or contracts of the insolvent insurer, for claims incurred with respect to:  (1) A group policy or contract, not later than the earlier of the next renewal date under the policy or contract or 45 days, but in no event less than 30 days, after the date when the Association becomes obligated with respect to that policy or contract.  (2) A nongroup policy, contract or annuity, not later than the earlier of the next renewal date, if any, under the policy, contract or annuity or 1 year, but in no event less than 30 days, after the date when the Association becomes obligated with respect to that policy, contract or annuity.  (b) Make diligent efforts to provide all known insureds, policy or contract owners or enrollees with respect to group policies or contracts, or annuitants with respect to annuities, 30 days’ notice of termination of the benefits provided pursuant to paragraph (a).  (c) With respect to nongroup life insurance, health insurance or annuity policies or contracts, make available substitute coverage on an individual basis, in accordance with the provisions of subsection 2, to each known insured or annuitant, or owner if other than the insured, enrollee or annuitant, and to each natural person formerly insured, formerly an enrollee or formerly an annuitant, under a group policy or contract who is not eligible for replacement group coverage, if the insured, enrollee or annuitant had a right under law or the terminated policy, contract or annuity to convert coverage to individual coverage or to continue an individual policy, contract or annuity in force until a specified age or for a specified period, during which the member insurer had no right unilaterally to make changes in any provision of the policy, contract or annuity or had a right only to make changes in premium by class.  2. In providing the substitute coverage required under paragraph (c) of subsection 1, the Association may offer to reissue the terminated coverage or to issue an alternative policy or contract at actuarially justified rates without requiring evidence of insurability or a waiting period or exclusion that would not have applied under the terminated policy or contract and may reinsure any alternative or reinsured policy or contract.  (Added to NRS by 1991, 865; A 2001, 1036; 2019, 1090, effective January 1, 2020)
NV Rev Stat § 686C.154 (2021)
2021 Nevada Revised Statutes|Chapter 686C - Nevada Life and Health Insurance Guaranty Association|NRS 686C.154 - Alternative policies: Adoption; approval; contents; premium; coverage. [Effective through December 31, 2019.]

  1. Alternative policies adopted by the Association are subject to the approval of the Commissioner and the court in the insolvent or impaired insurer’s state which has jurisdiction over the conservation, rehabilitation or liquidation of the insurer. The Association may adopt alternative policies of various types for future issuance without regard to any particular impairment or insolvency.  2. An alternative policy must contain at least the minimum statutory provisions required in this state and provide benefits that are not unreasonable in relation to the premium charged. The Association shall set the premium in accordance with a table of rates which it shall adopt. The premium must reflect the amount of insurance to be provided and the age and class of risk of each insured, but must not reflect any changes in the health of the insured after the original policy was last underwritten.  3. An alternative policy issued by the Association must provide coverage of a type similar to that of the policy issued by the impaired or insolvent insurer, as determined by the Association.  4. If the Association elects to reissue terminated coverage at a rate of premium different from that charged under the terminated policy, the premium must be set by the Association in accordance with the amount of insurance provided and the age and class of risk, subject to approval by the Commissioner and the court described in subsection 1.  (Added to NRS by 1991, 866; A 2001, 1037)
NV Rev Stat § 686C.154 (2021)
2021 Nevada Revised Statutes|Chapter 686C - Nevada Life and Health Insurance Guaranty Association|NRS 686C.154 - Alternative policies or contracts: Adoption; approval; contents; premium; coverage. [Effective January 1, 2020.]

  1. Alternative policies or contracts adopted by the Association are subject to the approval of the Commissioner. The Association may adopt alternative policies or contracts of various types for future issuance without regard to any particular impairment or insolvency.  2. An alternative policy or contract must contain at least the minimum statutory provisions required in this state and provide benefits that are not unreasonable in relation to the premium charged. The Association shall set the premium in accordance with a table of rates which it shall adopt. The premium must reflect the amount of insurance to be provided and the age and class of risk of each insured or enrollee, but must not reflect any changes in the health of the insured or enrollee after the original policy or contract was last underwritten.  3. An alternative policy or contract issued by the Association must provide coverage of a type similar to that of the policy or contract issued by the impaired or insolvent insurer, as determined by the Association.  4. If the Association elects to reissue terminated coverage at a rate of premium different from that charged under the terminated policy or contract, the premium must be set by the Association at an actuarially justified amount in accordance with the amount of insurance provided and the age and class of risk, subject to approval by the Commissioner pursuant to subsection 1.  (Added to NRS by 1991, 866; A 2001, 1037; 2019, 1091, effective January 1, 2020)
NV Rev Stat § 686C.155 (2021)
2021 Nevada Revised Statutes|Chapter 686C - Nevada Life and Health Insurance Guaranty Association|NRS 686C.155 - Ensuring of payment or credit of guaranteed minimum interest rate.

When proceeding pursuant to paragraph (b) of subsection 2 of NRS 686C.152 with respect to any policy or contract carrying guaranteed minimum interest rates, the Association shall ensure the payment or crediting of a rate of interest consistent with paragraph (c) of subsection 1 of NRS 686C.035.  (Added to NRS by 1991, 866; A 2001, 1038)
NV Rev Stat § 686C.156 (2021)
2021 Nevada Revised Statutes|Chapter 686C - Nevada Life and Health Insurance Guaranty Association|NRS 686C.156 - Issuance of substitute coverage for policy or contract that uses external reference for calculating returns or changes in value. [Effective through December 31, 2019.]

In carrying out its duties in connection with guaranteeing, assuming or reinsuring a policy or contract under NRS 686C.150 and 686C.152, the Association, subject to the approval of the court in the insolvent or impaired insurer’s state which has jurisdiction over the conservation, rehabilitation or liquidation of the insurer, may issue substitute coverage for a policy or contract that provides an interest rate, crediting rate or similar factor determined by use of an index or other external reference stated in the policy or contract employed in calculating returns or changes in value by issuing an alternative policy or contract if:  1. In lieu of the index or other external reference stated in the original policy or contract, the alternative policy or contract provides for a fixed interest rate, payment of dividends guaranteed as to minimum amount, or a different method of calculating interest or changes in value;  2. There is no requirement for evidence of insurability, waiting period or other exclusion that would not have applied under the replaced policy or contract; and  3. The alternative policy or contract is substantially similar to the replaced policy or contract in all other material terms.  (Added to NRS by 2001, 1029)
NV Rev Stat § 686C.156 (2021)
2021 Nevada Revised Statutes|Chapter 686C - Nevada Life and Health Insurance Guaranty Association|NRS 686C.156 - Issuance of substitute coverage for policy or contract that uses external reference for calculating returns or changes in value. [Effective January 1, 2020.]

In carrying out its duties in connection with guaranteeing, assuming, reissuing or reinsuring a policy or contract under NRS 686C.150 and 686C.152, the Association may issue substitute coverage for a policy or contract that provides an interest rate, crediting rate or similar factor determined by use of an index or other external reference stated in the policy or contract employed in calculating returns or changes in value by issuing an alternative policy or contract if:  1. In lieu of the index or other external reference stated in the original policy or contract, the alternative policy or contract provides for a fixed interest rate, payment of dividends guaranteed as to minimum amount, or a different method of calculating interest or changes in value;  2. There is no requirement for evidence of insurability, waiting period or other exclusion that would not have applied under the replaced policy or contract; and  3. The alternative policy or contract is substantially similar to the replaced policy or contract in all other material terms.  (Added to NRS by 2001, 1029; A 2019, 1091, effective January 1, 2020)
NV Rev Stat § 686C.158 (2021)
2021 Nevada Revised Statutes|Chapter 686C - Nevada Life and Health Insurance Guaranty Association|NRS 686C.158 - Payment of premiums; liability for unearned premiums.

Premiums due for coverage after entry of an order of liquidation of an insolvent insurer belong to and are payable at the direction of the Association, and the Association is liable for unearned premiums due to owners of policies or contracts arising after the entry of such an order.  (Added to NRS by 2001, 1027)
NV Rev Stat § 686C.160 (2021)
2021 Nevada Revised Statutes|Chapter 686C - Nevada Life and Health Insurance Guaranty Association|NRS 686C.160 - Imposition of restraints on insurers. [Effective through December 31, 2019.]

In carrying out its responsibilities under NRS 686C.152, the Association may, subject to approval by a court of this state:  1. Impose permanent liens on policies and contracts in connection with any guarantee, assumption or reinsurance if the Association finds that the amounts which can be assessed under this chapter are less than the amounts needed to ensure full and prompt performance of the Association’s duties or that the economic or financial conditions as they affect member insurers are sufficiently adverse that the imposition of such permanent liens is in the public interest.  2. Impose temporary moratoriums or liens on payments of cash values and policy loans or any right to withdraw money held in conjunction with policies or contracts, in addition to any contractual provisions for deferral of paying cash value or lending against the policy. In addition, in the event of a temporary moratorium or charge imposed by the court in the insolvent or impaired insurer’s state which has jurisdiction over the conservation, rehabilitation or liquidation of the insurer on such payment or lending, or on any other right to withdraw money held in conjunction with policies or contracts, the Association may defer such payment, lending or withdrawal for the period of the moratorium or charge, except for claims covered by the Association to be paid in accordance with a procedure for cases of hardship established by the liquidator or rehabilitator and approved by the court.  (Added to NRS by 1973, 305; A 1991, 872; 2001, 1038)
NV Rev Stat § 686C.160 (2021)
2021 Nevada Revised Statutes|Chapter 686C - Nevada Life and Health Insurance Guaranty Association|NRS 686C.160 - Imposition of restraints on insurers. [Effective January 1, 2020.]

In carrying out its responsibilities under NRS 686C.152, the Association may, subject to approval by a court of this state:  1. Impose permanent liens on policies and contracts in connection with any guarantee, assumption or reinsurance if the Association finds that the amounts which can be assessed under this chapter are less than the amounts needed to ensure full and prompt performance of the Association’s duties or that the economic or financial conditions as they affect member insurers are sufficiently adverse that the imposition of such permanent liens is in the public interest.  2. Impose temporary moratoriums or liens on payments of cash values and policy loans or any right to withdraw money held in conjunction with policies or contracts, in addition to any contractual provisions for deferral of paying cash value or lending against the policy or contract. In addition, in the event of a temporary moratorium or charge imposed by the court in the insolvent or impaired insurer’s state which has jurisdiction over the conservation, rehabilitation or liquidation of the insurer on such payment or lending, or on any other right to withdraw money held in conjunction with policies or contracts, the Association may defer such payment, lending or withdrawal for the period of the moratorium or charge, except for claims covered by the Association to be paid in accordance with a procedure for cases of hardship established by the liquidator or rehabilitator and approved by the court.  (Added to NRS by 1973, 305; A 1991, 872; 2001, 1038; 2019, 1092, effective January 1, 2020)
NV Rev Stat § 686C.170 (2021)
2021 Nevada Revised Statutes|Chapter 686C - Nevada Life and Health Insurance Guaranty Association|NRS 686C.170 - Liability for guaranty provided by laws of another state or jurisdiction.

The Association is not liable under NRS 686C.152 where a guaranty is provided to residents of this state by the laws of the domiciliary state or jurisdiction of the impaired or insolvent insurer other than this state.  (Added to NRS by 1973, 305; A 1991, 873; 2001, 1038)
NV Rev Stat § 686C.175 (2021)
2021 Nevada Revised Statutes|Chapter 686C - Nevada Life and Health Insurance Guaranty Association|NRS 686C.175 - Receipt and disposition of deposit held pursuant to law or required by Commissioner for benefit of creditors. [Effective through December 31, 2019.]

A deposit in this state, held pursuant to law or required by the Commissioner for the benefit of creditors, including owners of policies, not turned over to the domiciliary receiver upon the entry of a final order of liquidation or order approving a plan of rehabilitation of an insurer domiciled in this state or a reciprocal state pursuant to NRS 696B.290 or 696B.300 must be promptly paid to the Association. The Association is entitled to retain a portion of an amount so paid to it that is equal to the percentage determined by dividing the aggregate amount of policy owners’ claims related to that insolvency for which the Association has provided statutory benefits by the aggregate amount of all policy owners’ claims in this state related to that insolvency, and shall remit the remainder to the domiciliary receiver. The amount so remitted is a distribution of the assets of the insurer for the purposes of chapter 696B of NRS.  (Added to NRS by 2001, 1027)