Nevada § 686C.160 Imposition of restraints on insurers

Nevada Statutes

§ 686C.160 — Imposition of restraints on insurers

Nevada § 686C.160

Title 57INSURANCE

Ch. 686CNevada

ORGANIZATION; POWERS AND DUTIES

This text of Nevada § 686C.160 (Imposition of restraints on insurers) 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. § 686C.160 (2026).

Text

In carrying out its responsibilities under NRS 686C.152, the Association may, subject to approval by a court of this state:

1.Impose permanent liens on policies and contracts in connection with any guarantee, assumption or reinsurance if the Association finds that the amounts which can be assessed under this chapter are less than the amounts needed to ensure full and prompt performance of the Association’s duties or that the economic or financial conditions as they affect member insurers are sufficiently adverse that the imposition of such permanent liens is in the public interest.

2.Impose temporary moratoriums or liens on payments of cash values and policy loans or any right to withdraw money held in conjunction with policies or contracts, in addition to any contractual provisions for

Free access — add to your briefcase to read the full text and ask questions with AI

In carrying out its responsibilities under NRS 686C.152, the Association may, subject to approval by a court of this state:
1. Impose permanent liens on policies and contracts in connection with any guarantee, assumption or reinsurance if the Association finds that the amounts which can be assessed under this chapter are less than the amounts needed to ensure full and prompt performance of the Association’s duties or that the economic or financial conditions as they affect member insurers are sufficiently adverse that the imposition of such permanent liens is in the public interest.
2. Impose temporary moratoriums or liens on payments of cash values and policy loans or any right to withdraw money held in conjunction with policies or contracts, in addition to any contractual provisions for deferral of paying cash value or lending against the policy or contract. In addition, in the event of a temporary moratorium or charge imposed by the court in the insolvent or impaired insurer’s state which has jurisdiction over the conservation, rehabilitation or liquidation of the insurer on such payment or lending, or on any other right to withdraw money held in conjunction with policies or contracts, the Association may defer such payment, lending or withdrawal for the period of the moratorium or charge, except for claims covered by the Association to be paid in accordance with a procedure for cases of hardship established by the liquidator or rehabilitator and approved by the court.