Nev. Rev. Stat. § 696C.010
Definitions
As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 696C.020 and 696C.030 have the meanings ascribed to them in those sections.
Nevada Revised Statutes Chapter 696C — Administrative Supervision of Insurers
Nevada · statute · Nev. Rev. Stat. ch. 696C · 12 active provisions
Nev. Rev. Stat. § 696C.020
“Commissioner” defined
“Commissioner” means the Commissioner of Insurance and, if applicable: 1. A deputy of the Commissioner; or 2. The Division.
Nev. Rev. Stat. § 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 certif…
Nev. Rev. Stat. § 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 purporti…
Nev. Rev. Stat. § 696C.100
Conditions for placement under administrative supervision; duties of Commissioner; duration; review
1. The Commissioner may place an insurer under administrative supervision if: (a) At any time, the Commissioner determines that: (1) The insurer is in a hazardous financial condition as set forth in regulations adopted pursuant to NRS 680A.205, 695B.150, 695C.318, 695D.157 or 695F.212 or any other applicable provision…
Nev. Rev. Stat. § 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 t…
Nev. Rev. Stat. § 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…
Nev. Rev. Stat. § 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…
Nev. Rev. Stat. § 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 o…
Nev. Rev. Stat. § 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 representa…
Nev. Rev. Stat. § 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…
Nev. Rev. Stat. § 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 t…