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2023 Nevada Revised Statutes › Chapter 696B - Delinquent Insurers: Conservation, Rehabilitation and Liquidation › NRS 696B.380 - Borrowing on pledge of assets.

1. For the purpose of facilitating the rehabilitation, liquidation, conservation or dissolution of an insurer pursuant to NRS 696B.010 to 696B.565, inclusive, the Commissioner may, subject to the approval of the court, borrow money and execute, acknowledge and deliver notes or other evidences of indebtedness therefor and secure the repayment of the same by the mortgage, pledge, assignment, transfer in trust or hypothecation of any or all of the property, whether real, personal or mixed, of such insurer, and the Commissioner, subject to the approval of the court, shall have power to take any and all other action necessary and proper to consummate any such loan and to provide for the repayment thereof.
2. The Commissioner shall be under no obligation personally or in his or her official capacity to repay any loan made pursuant to this section.
(Added to NRS by 1971, 1895)
2023 Nevada Revised Statutes › Chapter 696B - Delinquent Insurers: Conservation, Rehabilitation and Liquidation › NRS 696B.390 - Termination of conservation or rehabilitation.

If at any time the court finds, after a hearing in open court, upon petition of the Commissioner or of the insurer or of its own motion, that the objectives of an order to conserve or rehabilitate a domestic insurer or an alien insurer domiciled in this state have been accomplished, and that the insurer can be returned to its own management without further jeopardy to the insurer and its creditors or policyholders or stockholders or to the public, the court may, upon a full report and accounting by the Commissioner relative to the conduct of the insurer’s affairs during the conservation or rehabilitation and of the insurer’s current financial condition, terminate the conservation or rehabilitation and by order return the insurer, its assets and affairs, to the insurer’s management.
(Added to NRS by 1971, 1896)
2023 Nevada Revised Statutes › Chapter 696B - Delinquent Insurers: Conservation, Rehabilitation and Liquidation › NRS 696B.400 - Date rights fixed on liquidation.

The rights and liabilities of the insurer and of its creditors, policyholders, stockholders, members, subscribers and all other persons interested in its estate shall, unless otherwise directed by the court, be fixed as of the date on which the order directing the liquidation of the insurer is filed in the office of the clerk of the court which made the order, subject to the provisions of this chapter with respect to the rights of claimants holding contingent claims.
(Added to NRS by 1971, 1896)
2023 Nevada Revised Statutes › Chapter 696B - Delinquent Insurers: Conservation, Rehabilitation and Liquidation › NRS 696B.410 - Prohibited and voidable transfers and liens.

1. No insurer shall make any transfer of or create any lien upon any of its property with the intent of giving to or enabling any creditor or policyholder to obtain a greater percentage of his or her debt than any other creditor or policyholder of the same class.
2. Any transfer of, or lien upon, any property of any insurer made or created within 4 months prior to the filing of a petition for an order to show cause under this chapter, which gives to any creditor or policyholder or enables the creditor or policyholder to obtain a greater percentage of his or her debt than any other creditor or policyholder in the same class, and which is accepted by a creditor or policyholder having reasonable cause to believe that such a preference will occur, is voidable. Where the preference consists of a transfer, such period of 4 months shall not expire until 4 months after the date of the recording or registering of the transfer if by law such recording or registering is required.
3. Every director, officer, employee, stockholder, member or any other person acting on behalf of such insurer, who, within 2 years prior to the filing of a petition for an order to show cause against such insurer under this chapter, knowingly participates in the making of any transfer or the creation of any lien prohibited by subsection 1, and every person receiving any property of, or cash surrender from, such insurer or the benefit thereof as a result of a transaction voidable under subsection 2, shall be jointly and severally liable therefor and shall be bound to account to the Commissioner as receiver, rehabilitator, liquidator or conservator, as the case may be.
4. The Commissioner as receiver, rehabilitator, liquidator or conservator may avoid any transfer of or lien upon the property of an insurer which any creditor, stockholder or member of such insurer might have avoided and may recover the property so transferred or its value from the person to whom it was transferred unless the person was a bona fide holder for value prior to the date of the entry of an order to show cause under this chapter. Such property may be recovered or its value collected from whoever may have received it except a bona fide holder for value.
(Added to NRS by 1971, 1896)
2023 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)
2023 Nevada Revised Statutes › Chapter 696B - Delinquent Insurers: Conservation, Rehabilitation and Liquidation › NRS 696B.415 - Disbursements to insurance guaranty associations; administrative expenses; 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)
2023 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)
2023 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)
2023 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)
2023 Nevada Revised Statutes › Chapter 696B - Delinquent Insurers: Conservation, Rehabilitation and Liquidation › NRS 696B.460 - Entry of order of insolvency; notice by Commissioner of 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)
2023 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)
2023 Nevada Revised Statutes › Chapter 696B - Delinquent Insurers: Conservation, Rehabilitation and Liquidation › NRS 696B.480 - Assessment: Order and levy.

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)
2023 Nevada Revised Statutes › Chapter 696B - Delinquent Insurers: Conservation, Rehabilitation and Liquidation › NRS 696B.490 - Assessment: Prima facie correct; notice to members and subscribers; 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)
2023 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)
2023 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)
2023 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)
2023 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)
2023 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)
2023 Nevada Revised Statutes › Chapter 696B - Delinquent Insurers: Conservation, Rehabilitation and Liquidation › NRS 696B.550 - Summary proceedings: Conduct of administrative and judicial hearings; confidentiality of records.

1. The Commissioner shall hold all hearings in summary proceedings privately unless the insurer requests a public hearing, in which case the hearing must be public.
2. The court may hold all hearings in summary proceedings and judicial reviews thereof privately in chambers, and shall do so on request of the insurer proceeded against.
3. In all summary proceedings and judicial reviews thereof, all records of the insurer, other documents and all Division files and court records and papers, so far as they pertain to or are part of the record of the summary proceedings, are confidential except as otherwise provided in NRS 239.0115 and except as necessary to obtain compliance therewith, unless the court after hearing arguments by the parties in chambers, orders otherwise, or unless the insurer requests that the matter be made public. Until the court otherwise orders, all papers filed with the clerk of the court must be held by the clerk of the court in a confidential file.
4. If at any time it appears to the court that any person whose interest is or will be substantially affected by an order did not appear at the hearing and has not been served, the court may order that notice be given and the proceedings be adjourned to give the person an opportunity to appear, on such terms as may be reasonable and just.
(Added to NRS by 1971, 1904; A 1991, 1635; 1993, 1924; 2007, 2160)
2023 Nevada Revised Statutes › Chapter 696B - Delinquent Insurers: Conservation, Rehabilitation and Liquidation › NRS 696B.560 - Summary proceedings: Penalty for refusal to deliver property and records.

Any person having possession or custody of and refusing to deliver to the Commissioner or a representative of the Commissioner upon request any of the property, books, accounts, documents or other records of an insurer against which a seizure order or a summary order has been issued by the Commissioner or by the court, as provided in NRS 696B.500 to 696B.550, inclusive, is guilty of a misdemeanor.
(Added to NRS by 1971, 1905)
2023 Nevada Revised Statutes › Chapter 696B - Delinquent Insurers: Conservation, Rehabilitation and Liquidation › NRS 696B.565 - Officers, agents, employees and attorneys of Division: Immunity from liability; indemnification.

1. The Commissioner, as receiver, all present and former deputy receivers, special deputy receivers and their employees, and the other officers, agents, employees and attorneys of the Division are immune from liability, both personally and in their official capacities, for any claim for damage to or loss of property or personal injury or other civil liability caused by or resulting from any alleged act, error or omission of the officers, agents, employees and attorneys of the Division arising out of or by reason of their duties or employment. This subsection must not be construed to hold the officers, agents, employees and attorneys of the Division immune from liability for any damage, loss, injury or liability caused by actual malice.
2. Attorneys, accountants, auditors and other professional persons or firms who are retained by the Commissioner as independent contractors and their employers must not be considered employees for the purposes of this chapter.
3. The Commissioner, all present and former deputy receivers, special deputy receivers and their employees, and the other officers, agents, employees and attorneys of the Division must be indemnified for all expenses, attorney’s fees, judgments, settlements, decrees, or amounts due or paid in satisfaction of, or incurred in the defense of, such a legal action, unless it is determined upon a final adjudication on the merits of the case that the alleged acts, error or omission of the officer, agent, employee or attorney of the division did not arise out of or by reason of his or her duties or employment and was caused by actual malice.
4. The State may seek indemnification for the payment of expenses, judgments, settlements, decrees, attorney’s fees, surety bond premiums or other amounts paid or to be paid from the insurer’s assets. Any payment pursuant to this section shall be deemed an administrative expense of the insurer.
(Added to NRS by 1997, 3037; A 2001, 2252)
2023 Nevada Revised Statutes › Chapter 696B - Delinquent Insurers: Conservation, Rehabilitation and Liquidation › NRS 696B.570 - Federal receivership.

1. If the Commissioner believes that rehabilitation or liquidation of a domestic insurer or alien insurer domiciled in this state upon grounds for such rehabilitation or liquidation set forth in this chapter would thereby be facilitated, and whether or not delinquency proceedings against the insurer are already pending in the courts of this state, the Commissioner may cause or consent to the filing of a petition in a federal district court in another state for the appointment of a federal receiver of the insurer. The Commissioner may intervene in any such action, and may accept appointment as the federal receiver if so designated. Upon the designation of a federal receiver in any such action, the courts of this state shall relinquish jurisdiction of the rehabilitation or liquidation of the insurer upon the Commissioner’s motion therefor.
2. The provisions of this chapter relating to delinquency proceedings in courts of this state shall apply to such a federal receivership to the extent applicable and appropriate.
3. If the Commissioner is appointed a federal receiver under this section, the Commissioner shall comply with any requirements necessary to give the Commissioner title to and control over the insurer’s assets and affairs.
(Added to NRS by 1971, 1905)
2023 Nevada Revised Statutes › Chapter 696C - Administrative Supervision of Insurers › NRS 696C.030 - "Insurer" defined.

"Insurer" includes, without limitation:
1. A captive insurer that has been issued a certificate of authority pursuant to chapter 694C of NRS;
2. A fraternal benefit society that has been issued a certificate of authority pursuant to chapter 695A of NRS;
3. A health maintenance organization that has been issued a certificate of authority pursuant to chapter 695C of NRS;
4. A nonprofit corporation for hospital, medical or dental services that has been issued a certificate of authority pursuant to chapter 695B of NRS;
5. An organization for dental care that has been issued a certificate of authority pursuant to chapter 695D of NRS;
6. A prepaid limited health service organization that has been issued a certificate of authority pursuant to chapter 695F of NRS;
7. A risk retention group that has been issued a certificate of registration pursuant to chapter 695E of NRS;
8. Any person who is engaged as principal and as indemnitor, surety or contractor in the business of entering into contracts of insurance; and
9. Any person purporting to be an insurer listed in subsections 1 to 8, inclusive, or in the process of organizing, or holding himself or herself out as organizing, or proposing to organize in this State for the purpose of becoming an insurer listed in subsections 1 to 8, inclusive.
(Added to NRS by 2017, 2327)
2023 Nevada Revised Statutes › Chapter 696C - Administrative Supervision of Insurers › NRS 696C.050 - Applicability.

The provisions of this chapter apply to:
1. All domestic insurers;
2. Any foreign insurer doing business in this State regarding whom an applicable official of the foreign insurer’s state of domicile has requested that the Commissioner apply the provisions of this chapter to the foreign insurer;
3. All persons purporting to be an insurer, or in the process of organizing, or holding themselves out as organizing, or proposing to organize in this State for the purpose of becoming an insurer; and
4. All other persons to whom the provisions of this chapter are otherwise expressly made applicable by law.
(Added to NRS by 2017, 2327)
2023 Nevada Revised Statutes › Chapter 696C - Administrative Supervision of Insurers › NRS 696C.110 - Commissioner or designee required to serve as administrative supervisor; authority of Commissioner to prohibit insurer under administrative supervision from taking certain actions without approval of administrative supervisor.

1. During the period an insurer is under administrative supervision pursuant to NRS 696C.100, the Commissioner or an appointee designated by the Commissioner shall serve as the administrative supervisor of the insurer.
2. The Commissioner may identify any one or more actions specified in subsection 3 as actions which the insurer shall not take during the period the insurer remains under administrative supervision pursuant to NRS 696C.100 unless the insurer obtains approval in advance from the administrative supervisor designated pursuant to subsection 1.
3. If identified by the Commissioner pursuant to subsection 2, the insurer shall not, without obtaining approval in advance from the administrative supervisor:
(a) Dispose of, convey or encumber any of its assets or its business in force;
(b) Withdraw money from any of its bank accounts;
(c) Lend any of its money;
(d) Invest any of its money;
(e) Transfer any of its property;
(f) Incur any debt, obligation or liability;
(g) Merge or consolidate with another insurer or any other business entity as defined in NRS 682A.025;
(h) Approve new premiums or renew any policies;
(i) Enter into any new reinsurance contract or treaty;
(j) Terminate, surrender, forfeit, convert or lapse any insurance policy, certificate or contract, except for nonpayment of premiums due;
(k) Release, pay or refund premium deposits, accrued cash or loan values, unearned premiums or other reserves on any insurance policy, certificate or contract;
(l) Make any material change in management; or
(m) Increase any salary or benefit of an officer or director, increase the preferential payment of a bonus or dividend or increase any other payment deemed by the Commissioner to be preferential.
(Added to NRS by 2017, 2329)
2023 Nevada Revised Statutes › Chapter 696C - Administrative Supervision of Insurers › NRS 696C.120 - Confidentiality; exceptions.

1. Notwithstanding any other provision of law and except as set forth in this section and NRS 239.0115, any proceedings and hearings, and any notices, correspondence, reports, records and other information in the possession of the Commissioner, relating to the administrative supervision of any insurer pursuant to this chapter are confidential by law and privileged, are not subject to subpoena, are not subject to discovery and are not admissible in evidence in any private civil action.
2. The Commissioner may use the information specified in subsection 1 in the furtherance of any regulatory or legal action brought as part of his or her official duties, including, without limitation, his or her duties as a receiver pursuant to chapter 696B of NRS.
3. Neither the Commissioner nor any other person who received access to any information specified in subsection 1 while acting under the authority of the Commissioner may be permitted or required to testify in any private civil action concerning the information.
4. In order to assist in the performance of the regulatory duties of the Commissioner, the Commissioner may:
(a) Share the information specified in subsection 1 with:
(1) Other state, federal and international regulatory agencies, including, without limitation, members of any supervisory college as defined in NRS 692C.359;
(2) The National Association of Insurance Commissioners and its affiliates and subsidiaries;
(3) Third party consultants designated by the Commissioner; and
(4) State, federal and international law enforcement authorities, if the Commissioner determines that the disclosure is necessary or proper for the enforcement of the laws of this State or another state,
provided that the recipient agrees to maintain the confidentiality of the applicable information specified in subsection 1. No waiver of any applicable privilege or claim of confidentiality occurs because of the sharing of information pursuant to this paragraph.
(b) Open any proceedings or hearings to the public or make public any other information specified in subsection 1 if the Commissioner determines that it is in the best interest of the public or in the best interest of the insurer, the insureds or creditors of the insurer, or the general public.
(Added to NRS by 2017, 2330)
2023 Nevada Revised Statutes › Chapter 696C - Administrative Supervision of Insurers › NRS 696C.130 - Contest of action of administrative supervisor.

1. During the period an insurer is under administrative supervision pursuant to NRS 696C.100, the insurer may contest any action taken or proposed to be taken by the administrative supervisor designated pursuant to subsection 1 of NRS 696C.110 on the ground that the action would not result in improving the condition of the insurer. To contest an action taken or proposed to be taken by the administrative supervisor, the insurer must submit a request for reconsideration to the administrative supervisor. If the administrative supervisor, upon reconsideration, denies the insurer’s request, the insurer may request a review of the decision of the administrative supervisor pursuant to NRS 679B.310 to 679B.370, inclusive.
2. Any action taken by the Commissioner pursuant to this chapter is subject to:
(a) Review pursuant to NRS 679B.310 to 679B.370, inclusive, and any regulations adopted pursuant thereto; and
(b) Judicial review pursuant to chapter 233B of NRS.
(Added to NRS by 2017, 2331)
2023 Nevada Revised Statutes › Chapter 696C - Administrative Supervision of Insurers › NRS 696C.140 - Effect of chapter on Commissioner’s power to institute delinquency proceedings.

Nothing in this chapter shall be construed to limit the authority of the Commissioner to institute delinquency proceedings against an insurer pursuant to chapter 696B of NRS for the purpose of conserving, rehabilitating, reorganizing or liquidating the insurer, without regard to whether the Commissioner has currently or previously placed the insurer under administrative supervision pursuant to NRS 696C.100.
(Added to NRS by 2017, 2331)
2023 Nevada Revised Statutes › Chapter 696C - Administrative Supervision of Insurers › NRS 696C.150 - Meetings between Commissioner and administrative supervisor or representative.

Notwithstanding any other provision of law, at the time of any proceeding or during the pendency of any proceeding held pursuant to this chapter, the Commissioner may meet with an administrative supervisor designated by the Commissioner pursuant to subsection 1 of NRS 696C.110, and with the attorney or other representative of the administrative supervisor designated pursuant to subsection 1 of NRS 696C.110, without the presence of any other person:
1. To carry out the duties of the Commissioner under this chapter; or
2. To allow the administrative supervisor to carry out his or her duties under this chapter.
(Added to NRS by 2017, 2331)
2023 Nevada Revised Statutes › Chapter 696C - Administrative Supervision of Insurers › NRS 696C.160 - Regulations; employment of staff by Commissioner; payment by insurer of costs of such staff and administrative supervisor.

The Commissioner may:
1. Adopt any regulations necessary to carry out the purposes and provisions of this chapter;
2. In addition to an administrative supervisor designated by the Commissioner pursuant to subsection 1 of NRS 696C.110, employ any other counsels, actuaries, clerks and assistants as the Commissioner deems necessary for the administrative supervision of an insurer; and
3. Require an insurer placed under administrative supervision to pay the compensation and expenses of the administrative supervisor designated by the Commissioner pursuant to subsection 1 of NRS 696C.110 and any other counsels, actuaries, clerks and assistants described in subsection 2.
(Added to NRS by 2017, 2331)
2023 Nevada Revised Statutes › Chapter 696C - Administrative Supervision of Insurers › NRS 696C.170 - Commissioner, staff and administrative supervisor: Immunity from liability.

There shall be no liability on the part of, and no cause of action of any nature against, the Commissioner or any employee or agent of the Commissioner, or an administrative supervisor designated pursuant to subsection 1 of NRS 696C.110, for any action taken by them in the performance of their powers and duties under this chapter.
(Added to NRS by 2017, 2331)
2023 Nevada Revised Statutes › Chapter 697 - Businesses Related to Bail › NRS 697.020 - Definitions.

As used in this Code, unless the context otherwise requires, the words and terms defined in NRS 697.030 to 697.075, inclusive, have the meanings ascribed to them in those sections.
(Added to NRS by 1971, 1905; A 1997, 3383; 2023, 2647)
2023 Nevada Revised Statutes › Chapter 697 - Businesses Related to Bail › NRS 697.030 - "Bail" defined.

"Bail" means a deposit made with a court or other governmental agency to secure or continue the release from custody and to guarantee the appearance of the defendant in a criminal proceeding. The term includes bail bonds, undertakings of bail and any pledge or deposit of the matters described in NRS 697.320.
(Added to NRS by 1971, 1906; A 1997, 3383)
2023 Nevada Revised Statutes › Chapter 697 - Businesses Related to Bail › NRS 697.040 - "Bail agent" defined.

"Bail agent" means any individual appointed by an authorized surety insurer by power of attorney to execute or countersign undertakings of bail in connection with judicial proceedings and who receives or is promised money or other things of value therefor.
(Added to NRS by 1971, 1906)
2023 Nevada Revised Statutes › Chapter 697 - Businesses Related to Bail › NRS 697.055 - "Bail enforcement agent" defined.

"Bail enforcement agent" means a person who has contracted with or is employed by a surety or bail agent as a special agent to enforce the terms and conditions of a defendant’s release from custody on bail in a criminal proceeding, to locate a defendant and to apprehend a defendant or surrender a defendant to custody, or both, if appropriate.
(Added to NRS by 1997, 3380)
2023 Nevada Revised Statutes › Chapter 697 - Businesses Related to Bail › NRS 697.070 - "General agent" defined.

1. "General agent" means any individual or person appointed by an insurer to supervise or manage the bail bond business written by bail agents of such insurer.
2. A general agent shall not solicit or negotiate undertakings of bail or bail bonds unless licensed as a bail agent by this state.
(Added to NRS by 1971, 1906)
2023 Nevada Revised Statutes › Chapter 697 - Businesses Related to Bail › NRS 697.090 - License required to act as bail agent, general agent, bail enforcement agent or bail solicitor; administrative fine; general restrictions on licensing by Commissioner.

1. A person in this state shall not act in the capacity of a bail agent, bail enforcement agent or bail solicitor, or perform any of the functions, duties or powers prescribed for a bail agent, bail enforcement agent or bail solicitor under the provisions of this chapter, unless that person is qualified and licensed as provided in this chapter. The Commissioner may, after notice and opportunity to be heard, impose an administrative fine of not more than $1,000 for each act or violation of the provisions of this subsection.
2. A person, whether or not located in this state, shall not act as or hold himself or herself out to be a general agent unless qualified and licensed as such under the provisions of this chapter.
3. For the protection of the people of this state, the Commissioner shall not issue or renew, or permit to exist, any license except in compliance with this chapter. The Commissioner shall not issue or renew, or permit to exist, a license for any person found to be untrustworthy or incompetent, or who has not established to the satisfaction of the Commissioner that the person is qualified therefor in accordance with this chapter.
(Added to NRS by 1971, 1906; A 1997, 3384; 1999, 2818; 2001, 2252)