Nevada § 616B.413 Payment of dividends to members of association

Nevada Statutes

§ 616B.413 — Payment of dividends to members of association

Nevada § 616B.413

Title 53LABOR AND INDUSTRIAL RELATIONS

Ch. 616BIndustrial

ASSOCIATIONS OF SELF-INSURED EMPLOYERS

This text of Nevada § 616B.413 (Payment of dividends to members of association) 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.413 (2026).

Text

1. If the assets of an association of self-insured public or private employers exceed the amount necessary for the association to:

(a)Pay its obligations and administrative expenses;

(b)Carry reasonable reserves; and

(c)Provide for contingencies, Ê the board of trustees of the association may, after obtaining the approval of the Commissioner, declare and distribute dividends to the members of the association. 2. Any dividend declared pursuant to subsection 1 must be distributed not less than 12 months after the end of the fund year. 3. A dividend may be paid only to those members who are members of the association for the entire fund year. The payment of a dividend must not be conditioned upon the member continuing his or her membership in the association after the fund year. 4. An asso

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1. If the assets of an association of self-insured public or private employers exceed the amount necessary for the association to:
(a) Pay its obligations and administrative expenses;
(b) Carry reasonable reserves; and
(c) Provide for contingencies,
Ê the board of trustees of the association may, after obtaining the approval of the Commissioner, declare and distribute dividends to the members of the association.
2. Any dividend declared pursuant to subsection 1 must be distributed not less than 12 months after the end of the fund year.
3. A dividend may be paid only to those members who are members of the association for the entire fund year. The payment of a dividend must not be conditioned upon the member continuing his or her membership in the association after the fund year.
4. An association shall give to each prospective member of the association a written description of its plan for distributing dividends when the prospective member applies for membership in the association.