Nevada § 616B.306 Commissioner may sell securities or institute proceedings on surety bonds of self-insured employer to pay claims

Nevada Statutes

§ 616B.306 — Commissioner may sell securities or institute proceedings on surety bonds of self-insured employer to pay claims

Nevada § 616B.306

Title 53LABOR AND INDUSTRIAL RELATIONS

Ch. 616BIndustrial

SELF-INSURED EMPLOYERS

This text of Nevada § 616B.306 (Commissioner may sell securities or institute proceedings on surety bonds of self-insured employer to pay claims) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 616B.306 (2026).

Text

If a self-insured employer becomes insolvent, institutes any voluntary proceeding under the Bankruptcy Act or is named in any involuntary proceeding thereunder, makes a general or special assignment for the benefit of creditors or fails to pay compensation under chapters 616A to 616D, inclusive, or chapter 617 of NRS after an order for payment of any claim becomes final, the Commissioner may, after giving at least 10 days’ notice to the employer and any insurer or guarantor, use money or interest on securities, sell securities or institute legal proceedings on surety bonds deposited or filed with the Commissioner pursuant to NRS 679B.175 to the extent necessary to make those payments. Until the Commissioner gives a 10-day notice pursuant to this section, the employer is entitled to all int

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If a self-insured employer becomes insolvent, institutes any voluntary proceeding under the Bankruptcy Act or is named in any involuntary proceeding thereunder, makes a general or special assignment for the benefit of creditors or fails to pay compensation under chapters 616A to 616D, inclusive, or chapter 617 of NRS after an order for payment of any claim becomes final, the Commissioner may, after giving at least 10 days’ notice to the employer and any insurer or guarantor, use money or interest on securities, sell securities or institute legal proceedings on surety bonds deposited or filed with the Commissioner pursuant to NRS 679B.175 to the extent necessary to make those payments. Until the Commissioner gives a 10-day notice pursuant to this section, the employer is entitled to all interest and dividends on bonds or securities on deposit pursuant to NRS 679B.175 and to exercise all voting rights, stock options and other similar incidents of ownership thereof.