Nevada § 692A.109 Period to remedy deficit or unsafe condition; receivership

Nevada Statutes

§ 692A.109 — Period to remedy deficit or unsafe condition; receivership

Nevada § 692A.109

Title 57INSURANCE

Ch. 692ATitle

SUPERVISION; DISCIPLINARY AND OTHER ACTIONS

This text of Nevada § 692A.109 (Period to remedy deficit or unsafe condition; receivership) 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. § 692A.109 (2026).

Text

1.The officers, directors, partners, associates or stockholders of the title agent may, within 60 days after the date the Commissioner takes possession of the property, business and assets, make good any deficit which may exist or remedy the unsafe condition of its affairs.

2.At the expiration of such time, if the deficiency in assets or capital has not been made good or the unsafe condition remedied, the Commissioner may apply to the court to be appointed receiver and proceed to liquidate the assets of the title agent which are located in this state in the same manner as now provided by law for liquidation of a private corporation in receivership.

3.No other person may be appointed receiver by any court without first giving the Commissioner reasonable notice of his or her application.

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1. The officers, directors, partners, associates or stockholders of the title agent may, within 60 days after the date the Commissioner takes possession of the property, business and assets, make good any deficit which may exist or remedy the unsafe condition of its affairs.
2. At the expiration of such time, if the deficiency in assets or capital has not been made good or the unsafe condition remedied, the Commissioner may apply to the court to be appointed receiver and proceed to liquidate the assets of the title agent which are located in this state in the same manner as now provided by law for liquidation of a private corporation in receivership.
3. No other person may be appointed receiver by any court without first giving the Commissioner reasonable notice of his or her application.
4. The inventory made by the Commissioner and all claims filed by creditors are open at all reasonable times for inspection and any action taken by the receiver upon any of the claims is subject to the approval of the court before which the cause is pending.
5. The expenses of the receiver and compensation of counsel, as well as all expenditures required in the liquidation proceedings, must be fixed by the Commissioner subject to the approval of the court, and, upon certification of the Commissioner, must be paid out of the money that he or she possesses as receiver.