reglab/housing_qa huggingface dataset:
NV Rev Stat § 688B.120 (2021)
2021 Nevada Revised Statutes|Chapter 688B - Group Life Insurance|NRS 688B.120 - Conversion on termination of eligibility.

The group life insurance policy shall contain a provision that if the insurance on a person covered under the policy ceases because of termination of employment or of membership in the class or classes eligible for coverage under the policy, such person shall be entitled to have issued to him or her by the insurer, without evidence of insurability, an individual policy of life insurance without disability or other supplementary benefits, provided application for the individual policy shall be made, and the first premium paid to the insurer, within 31 days after such termination, and provided further that:  1. The individual policy shall, at the option of such person, be on any one of the forms, except term insurance, then customarily issued by the insurer at the age and for the amount applied for;  2. The individual policy shall be in an amount not in excess of the amount of life insurance which ceases because of such termination less the amount of any life insurance for which such person is or becomes eligible under the same or any other group policy within 31 days after such termination, but any amount of insurance which has matured on or before the date of such termination as an endowment payable to the person insured, whether in one sum or in installments or in the form of an annuity, shall not, for the purposes of this section, be included in the amount which is considered to cease because of such termination; and  3. The premium on the individual policy shall be at the insurer’s then customary rate applicable to the form and amount of the individual policy, to the class of risk to which such person then belongs, and to the age of the person attained on the effective date of the individual policy.  (Added to NRS by 1971, 1749)
NV Rev Stat § 688B.130 (2021)
2021 Nevada Revised Statutes|Chapter 688B - Group Life Insurance|NRS 688B.130 - Conversion on termination of policy.

The group life insurance policy shall contain a provision that if the group policy terminates or is amended so as to terminate the insurance of any class of insured persons, every person insured thereunder at the date of such termination whose insurance terminates and who has been so insured for at least 5 years prior to such termination date shall be entitled to have issued to the person by the insurer an individual policy of life insurance, subject to the same conditions and limitations as are provided by NRS 688B.120, except that the group policy may provide that the amount of such individual policy shall not exceed the smaller of:  1. The amount of the person’s life insurance protection ceasing because of the termination or amendment of the group policy, less the amount of any life insurance for which the person is or becomes eligible under any group policy issued or reinstated by the same or another insurer within 31 days after such termination; and  2. $2,000.  (Added to NRS by 1971, 1750)
NV Rev Stat § 688B.140 (2021)
2021 Nevada Revised Statutes|Chapter 688B - Group Life Insurance|NRS 688B.140 - Death pending conversion.

The group life insurance policy shall contain a provision that if a person insured under the policy dies during the period within which the person would have been entitled to have an individual policy issued to him or her in accordance with NRS 688B.120 or 688B.130 and before such an individual policy has become effective, the amount of life insurance which the person would have been entitled to have issued to him or her under such individual policy shall be payable as a claim under the group policy, whether or not application for the individual policy or the payment of the first premium therefor has been made.  (Added to NRS by 1971, 1750)
NV Rev Stat § 688B.150 (2021)
2021 Nevada Revised Statutes|Chapter 688B - Group Life Insurance|NRS 688B.150 - Information to debtor.

A policy issued to a creditor to insure debtors of such creditor shall contain a provision that the insurer will furnish to the policyholder for delivery to each debtor insured under the policy a form which will contain a statement that the life of the debtor is insured under the policy and that any death benefit paid thereunder by reason of the death of the debtor shall be applied to reduce or extinguish the indebtedness.  (Added to NRS by 1971, 1750)
NV Rev Stat § 688B.160 (2021)
2021 Nevada Revised Statutes|Chapter 688B - Group Life Insurance|NRS 688B.160 - Notice as to right of conversion.

  1. If any individual insured under a group life insurance policy delivered in this state after January 1, 1972, becomes entitled under the terms of such policy to have an individual policy of life insurance issued to the individual without evidence of insurability, subject to the making of an application and payment of the first premium within the period specified in such policy, and if such individual is not given notice of the existence of such right at least 15 days prior to the expiration date of such period, then the individual shall have an additional period within which to exercise such right; but nothing contained in this section shall be construed to continue any insurance beyond the period provided in such policy.  2. This additional period shall expire 15 days next after the individual is given such notice, but in no event shall such additional period extend beyond 60 days next after the expiration date of the period provided in such policy.  3. Written notice presented to the individual or mailed by the policyholder to the last known address of the individual or mailed by the insurer to the last known address of the individual as furnished by the policyholder shall constitute notice for the purpose of this section.  (Added to NRS by 1971, 1750)
NV Rev Stat § 688B.170 (2021)
2021 Nevada Revised Statutes|Chapter 688B - Group Life Insurance|NRS 688B.170 - Readjustment of premium.

Any group life insurance contract may provide for a readjustment of the premium rate based upon the experience thereunder.  (Added to NRS by 1971, 1751)
NV Rev Stat § 688B.180 (2021)
2021 Nevada Revised Statutes|Chapter 688B - Group Life Insurance|NRS 688B.180 - Application of dividends; rate reductions.

  1. If a policy dividend is declared after January 1, 1972, or a reduction in rate is made after January 1, 1972, or continued for the first or any subsequent year of insurance under any policy of group life insurance issued before, on or after January 1, 1972, to any policyholder, the excess, if any, of the aggregate dividends or rate reductions under such a policy and all other group insurance policies of the policyholder over the aggregate expenditure for insurance under such policies made from money contributed by the policyholder, or by an employer of insured persons, or by a union or association to which the insured persons belong, including expenditures made in connection with administration of such policies, must be applied by the policyholder for the sole benefit of insured employees or members.  2. This section does not apply to debtor groups.  (Added to NRS by 1971, 1751; A 1997, 1626)
NV Rev Stat § 688B.190 (2021)
2021 Nevada Revised Statutes|Chapter 688B - Group Life Insurance|NRS 688B.190 - Proceeds of benefits to be paid within 30 days after death of insured.

An insurer shall pay the proceeds of any benefits under a group life insurance policy not more than 30 days after the death of the insured. If the proceeds are not paid within this period, the insurer shall pay interest on the proceeds, at a rate that is not less than the current rate of interest on death proceeds on deposit with the insurer, from the date of death of the insured to the date when the proceeds are paid.  (Added to NRS by 1997, 3033)
NV Rev Stat § 688C.010 (2021)
2021 Nevada Revised Statutes|Chapter 688C - Viatical Settlements|NRS 688C.010 - Definitions.

As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 688C.020 to 688C.150, inclusive, have the meanings ascribed to them in those sections.  (Added to NRS by 2001, 2166; A 2009, 1790)
NV Rev Stat § 688C.020 (2021)
2021 Nevada Revised Statutes|Chapter 688C - Viatical Settlements|NRS 688C.020 - "Advertising" defined.

Advertising means a written, electronic or printed communication or a communication by recorded telephone message, radio, television, the Internet or a similar medium of communication, including a film strip, motion picture or videotape, published, communicated or otherwise placed before the public to create an interest in, or induce a person to purchase or sell a policy of life insurance pursuant to, a viatical settlement.  (Added to NRS by 2001, 2167; A 2009, 1790)
NV Rev Stat § 688C.030 (2021)
2021 Nevada Revised Statutes|Chapter 688C - Viatical Settlements|NRS 688C.030 - "Broker of viatical settlements" defined.

Broker of viatical settlements means a person who on behalf of a viator and for a fee, commission or other valuable consideration offers or attempts to negotiate a viatical settlement between the viator and one or more providers or brokers of viatical settlements. The term does not include an attorney at law, certified public accountant or financial planner accredited by a nationally recognized accrediting agency who is retained by the viator and whose compensation is not paid by a provider or purchaser of viatical settlements.  (Added to NRS by 2001, 2167; A 2009, 1791)
NV Rev Stat § 688C.040 (2021)
2021 Nevada Revised Statutes|Chapter 688C - Viatical Settlements|NRS 688C.040 - "Business of viatical settlements" defined.

Business of viatical settlements means the offering, solicitation, negotiation, procurement, effectuation, purchasing, financing, monitoring, tracking, underwriting, selling, transferring, pledging or otherwise hypothecating of viatical settlements.  (Added to NRS by 2001, 2167)
NV Rev Stat § 688C.050 (2021)
2021 Nevada Revised Statutes|Chapter 688C - Viatical Settlements|NRS 688C.050 - "Chronically ill" defined.

Chronically ill means:  1. Being unable to perform at least two activities of daily living, such as eating, moving from one place to another, bathing, dressing, continence, defecation or urination;  2. Requiring substantial supervision for protection from threats to health and safety because of cognitive impairment; or  3. Having a level of disability similar to that described in subsection 1 as determined by the Secretary of Health and Human Services.  (Added to NRS by 2001, 2167)
NV Rev Stat § 688C.060 (2021)
2021 Nevada Revised Statutes|Chapter 688C - Viatical Settlements|NRS 688C.060 - "Financing agent" defined.

  1. "Financing agent" means an underwriter, agent for placement, enhancer of credit, lender, purchaser of securities, purchaser of a policy from a provider of viatical settlements or other person that may enter into a viatical settlement and has direct ownership in a policy that is the subject of the viatical settlement but:  (a) Whose principal activity related to the transaction is providing money to effect the viatical settlement; and  (b) Who has an agreement in writing with one or more licensed providers of viatical settlements to finance the acquisition of one or more viatical settlements.  2. The term does not include a nonaccredited investor or a purchaser of viatical settlements.  (Added to NRS by 2001, 2167)
NV Rev Stat § 688C.070 (2021)
2021 Nevada Revised Statutes|Chapter 688C - Viatical Settlements|NRS 688C.070 - "Policy" defined.

Policy means an individual or group policy, group certificate, contract or arrangement of life insurance affecting the rights of a person, whether or not delivered or issued for delivery in this state.  (Added to NRS by 2001, 2167)
NV Rev Stat § 688C.080 (2021)
2021 Nevada Revised Statutes|Chapter 688C - Viatical Settlements|NRS 688C.080 - "Provider of viatical settlements" defined.

Provider of viatical settlements means a person other than a viator who enters into or effectuates a viatical settlement. The term does not include:  1. A bank, savings and loan association, savings bank, thrift company, credit union or other licensed lender that takes an assignment of a policy as security for a loan;  2. The issuer of a policy that provides accelerated benefits pursuant to the contract;  3. An authorized or eligible insurer that provides stop-loss coverage to a provider or purchaser of viatical settlements;  4. A natural person who enters into no more than one agreement in a calendar year for the transfer of policies for a value less than the expected death benefit;  5. A financing agent;  6. A special organization; or  7. A purchaser of viatical settlements.  (Added to NRS by 2001, 2167; A 2009, 1791)
NV Rev Stat § 688C.090 (2021)
2021 Nevada Revised Statutes|Chapter 688C - Viatical Settlements|NRS 688C.090 - "Purchaser of viatical settlements" defined.

  1. "Purchaser of viatical settlements" means:  (a) A person who gives a sum of money as consideration for a policy or an interest in the death benefits of a policy;  (b) A person who owns or acquires or is entitled to a beneficial interest in a trust that owns a viatical settlement contract as described in subsection 2 of NRS 687B.040; or  (c) A person who is the beneficiary of a policy that has been or will be the subject of a viatical settlement contract, for the purpose of deriving an economic benefit.  2. The term does not include:  (a) A person licensed pursuant to this chapter;  (b) An accredited investor or qualified institutional buyer as defined respectively in Regulation D, Rule 501 or Rule 144A of the Federal Securities Act of 1933, as amended;  (c) A financing agent; or  (d) A special organization.  (Added to NRS by 2001, 2168; A 2009, 1791)
NV Rev Stat § 688C.095 (2021)
2021 Nevada Revised Statutes|Chapter 688C - Viatical Settlements|NRS 688C.095 - "Rescission period" defined.

Rescission period means the shorter period of 60 days after the date on which a viatical settlement is signed by all parties thereto or 30 days after the viator receives the proceeds from that viatical settlement.  (Added to NRS by 2009, 1787)
NV Rev Stat § 688C.100 (2021)
2021 Nevada Revised Statutes|Chapter 688C - Viatical Settlements|NRS 688C.100 - "Special organization" defined.

Special organization means an organization formed by a licensed provider of viatical settlements solely to enable the provider to gain access to institutional markets for capital.  (Added to NRS by 2001, 2168)
NV Rev Stat § 688C.110 (2021)
2021 Nevada Revised Statutes|Chapter 688C - Viatical Settlements|NRS 688C.110 - "Terminally ill" defined.

Terminally ill means having an illness that can reasonably be expected to result in death within 24 months.  (Added to NRS by 2001, 2168)
NV Rev Stat § 688C.130 (2021)
2021 Nevada Revised Statutes|Chapter 688C - Viatical Settlements|NRS 688C.130 - "Viatical settlement" defined.

Viatical settlement means a written agreement between a viator and a provider of viatical settlements or an affiliate thereof for the payment of money, or anything else of value, which is less than the expected death benefit of a policy, in exchange for the viator’s assignment, sale, transfer or devise of the death benefit or ownership of any portion of the policy. The term includes an agreement to transfer ownership or change the beneficiary, in the future, regardless of the date of payment to the viator.  (Added to NRS by 2001, 2168; A 2009, 1791)
NV Rev Stat § 688C.133 (2021)
2021 Nevada Revised Statutes|Chapter 688C - Viatical Settlements|NRS 688C.133 - "Viatical settlement investment" defined.

Viatical settlement investment has the meaning ascribed to it in NRS 90.308.  (Added to NRS by 2009, 1787)
NV Rev Stat § 688C.135 (2021)
2021 Nevada Revised Statutes|Chapter 688C - Viatical Settlements|NRS 688C.135 - "Viatical settlement investment agent" and "investment agent of viatical settlements" defined.

Viatical settlement investment agent or "investment agent of viatical settlements" means a person who is appointed by or contracts with a licensed provider of viatical settlements to solicit or arrange for the funding for the purchase of a viatical settlement by a purchaser of viatical settlements on behalf of the provider of viatical settlements.  (Added to NRS by 2009, 1787)
NV Rev Stat § 688C.137 (2021)
2021 Nevada Revised Statutes|Chapter 688C - Viatical Settlements|NRS 688C.137 - "Viatical settlement purchase agreement" defined.

Viatical settlement purchase agreement means a contract or agreement to which the viator is not a party, and which is entered into by a purchaser of viatical settlements to purchase a life insurance policy or an interest in a life insurance policy for the purpose of deriving an economic benefit.  (Added to NRS by 2009, 1787)
NV Rev Stat § 688C.140 (2021)
2021 Nevada Revised Statutes|Chapter 688C - Viatical Settlements|NRS 688C.140 - "Viaticated policy" defined.

Viaticated policy means a policy that has been acquired by a provider of viatical settlements pursuant to a viatical settlement.  (Added to NRS by 2001, 2168)
NV Rev Stat § 688C.150 (2021)
2021 Nevada Revised Statutes|Chapter 688C - Viatical Settlements|NRS 688C.150 - "Viator" defined.

  1. "Viator" means the owner of a policy or the holder of a certificate of insurance under a policy of group insurance who resides in this State and who enters or seeks to enter into a viatical settlement. The term is not limited to an owner who is terminally or chronically ill except where that limitation is expressly provided.  2. The term does not include:  (a) A producer of life insurance acting as a broker of viatical settlements pursuant to this chapter;  (b) A qualified institutional buyer as defined in Rule 144A of the federal Securities Act of 1933, 15 U.S.C. §§ 77a et seq., as amended;  (c) A financing agent; or  (d) A special organization.  (Added to NRS by 2001, 2168; A 2009, 1792)
NV Rev Stat § 688C.160 (2021)
2021 Nevada Revised Statutes|Chapter 688C - Viatical Settlements|NRS 688C.160 - Governing law when residents of different states are viators or purchasers of viatical settlements with respect to single policy.

If there is more than one viator or purchaser of viatical settlements with respect to a single policy and they are residents of different states, one of whom resides in this State and enters or seeks to enter into a viatical settlement or an agreement to purchase a viatical settlement, the legal effect of the viatical settlement or agreement to purchase a viatical settlement, as applicable, is governed by the law of the state in which the viator or the purchaser having the largest fractional ownership resides. If the viators or purchasers of viatical settlements own equal fractions, they may agree in writing to choose which state, among the states in which the viators or purchasers of viatical settlements reside, will be the state whose law will govern.  (Added to NRS by 2001, 2169; A 2009, 1792)
NV Rev Stat § 688C.170 (2021)
2021 Nevada Revised Statutes|Chapter 688C - Viatical Settlements|NRS 688C.170 - Regulations of Commissioner.

The Commissioner may adopt regulations to:  1. Establish standards for evaluating the reasonableness of payments under viatical settlements to persons chronically or terminally ill, including the regulation of the rates of discount used to determine the amount paid in exchange for an assignment, transfer, sale or devise of a benefit under a policy.  2. Require a bond or otherwise ensure financial accountability of providers and brokers of viatical settlements.  3. Govern the relationship of insurers with providers and brokers of viatical settlements during the viatication of a policy.  4. Establish standards and requirements for licensing and registering producers of insurance acting as brokers of viatical settlements.  (Added to NRS by 2001, 2179; A 2005, 2135)
NV Rev Stat § 688C.175 (2021)
2021 Nevada Revised Statutes|Chapter 688C - Viatical Settlements|NRS 688C.175 - Applicability of other statutes.

  1. Persons engaged in the business of viatical settlements are subject to the provisions of this chapter and to the following provisions, to the extent reasonably applicable:  (a) NRS 679B.230 to 679B.300, inclusive, concerning examinations of insurers.  (b) NRS 679B.310 to 679B.370, inclusive, concerning hearings regarding insurers and employees of insurers.  (c) Chapter 680A of NRS.  (d) Chapter 683A of NRS.  (e) NRS 686A.010 to 686A.310, inclusive, concerning trade practices and frauds.  2. Nothing in this chapter or elsewhere in this title preempts or otherwise limits the provisions of chapter 90 of NRS, or of any rules, regulations or orders issued by or through the Administrator of the Securities Division of the Office of the Secretary of State or the Administrator’s designee acting pursuant to the authority granted by chapter 90 of NRS.  3. Compliance with the provisions of this chapter does not constitute compliance with any applicable provisions of chapter 90 of NRS or with any rule, regulation or order adopted or issued thereunder.  (Added to NRS by 2009, 1787)
NV Rev Stat § 688C.180 (2021)
2021 Nevada Revised Statutes|Chapter 688C - Viatical Settlements|NRS 688C.180 - Examinations and investigations by Commissioner.

The Commissioner may examine or investigate a licensee under this chapter as often as the Commissioner considers appropriate. An examination will be conducted in the manner provided in NRS 679B.230 to 679B.300, inclusive. The Commissioner may also examine or investigate any other person or business insofar as the Commissioner considers necessary or material to the examination or investigation of the licensee. Instead of an examination or investigation under this chapter of a foreign or alien person licensed under this chapter, the Commissioner may accept a report on examination or investigation of the licensee by the equivalent authority of the licensee’s state of domicile or port of entry.  (Added to NRS by 2001, 2170)
NV Rev Stat § 688C.190 (2021)
2021 Nevada Revised Statutes|Chapter 688C - Viatical Settlements|NRS 688C.190 - License to operate as investment agent, provider or broker: General requirements; application, renewal and expiration; effect.

  1. Except as otherwise provided in NRS 688C.215, a person shall not, without first obtaining a license from the Commissioner, operate in or from this State as an investment agent or a provider or broker of viatical settlements.  2. Application for a license must be made to the Commissioner on a form prescribed by the Commissioner, accompanied by all applicable fees. A license may be renewed from year to year on its anniversary by payment of all applicable fees. The license expires if all applicable fees are not paid by that date.  3. An applicant shall provide information on forms required by the Commissioner, who may at any time require the applicant to disclose the identity of all stockholders, partners, members, officers and employees. The Commissioner may refuse to issue a license to an organization if the Commissioner is not satisfied that a stockholder, partner, member or officer who may materially influence the applicant’s conduct satisfies the requirements of this chapter.  4. A license issued to an organization authorizes all partners, members, officers and designated employees to act as investment agents or providers or brokers of viatical settlements. Those persons must be named in the application or a supplement to it.  (Added to NRS by 2001, 2169; A 2005, 2135; 2009, 1792, 1793)