Nevada § 686C.2245 Assumption of reinsurance contracts: Transfer of contracts by Association

Nevada Statutes

§ 686C.2245 — Assumption of reinsurance contracts: Transfer of contracts by Association

Nevada § 686C.2245

Title 57INSURANCE

Ch. 686CNevada

ORGANIZATION; POWERS AND DUTIES

This text of Nevada § 686C.2245 (Assumption of reinsurance contracts: Transfer of contracts by 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. § 686C.2245 (2026).

Text

When policies or contracts, or covered obligations with respect thereto, are transferred to an assuming insurer, reinsurance on the policies or contracts may also be transferred by the Association, in the case of policies or contracts assumed under NRS 686C.224, subject to the following:

1.Unless the reinsurer and the assuming insurer agree otherwise, the reinsurance contract transferred must not cover any new policies or contracts in addition to those transferred.

2.The obligations described in NRS 686C.224 no longer apply with respect to matters arising after the effective date of the transfer.

3.Notice must be given in writing, return receipt requested, by the transferring party to the affected reinsurer not less than 30 days before the effective date of the transfer.

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When policies or contracts, or covered obligations with respect thereto, are transferred to an assuming insurer, reinsurance on the policies or contracts may also be transferred by the Association, in the case of policies or contracts assumed under NRS 686C.224, subject to the following:
1. Unless the reinsurer and the assuming insurer agree otherwise, the reinsurance contract transferred must not cover any new policies or contracts in addition to those transferred.
2. The obligations described in NRS 686C.224 no longer apply with respect to matters arising after the effective date of the transfer.
3. Notice must be given in writing, return receipt requested, by the transferring party to the affected reinsurer not less than 30 days before the effective date of the transfer.