This text of Nevada § 695D.153 (Capital account: Minimum amount; requirements) 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.
1. Each organization for dental care which receives a certificate of authority shall maintain a capital account with a net worth of not less than $500,000 unless a lesser amount is permitted in writing by the Commissioner.
2. An organization for dental care which has been issued a certificate of authority pursuant to this chapter shall maintain a capital account with a net worth in an amount which is not less than the greater of:
(a)The amount of risk-based capital required by regulations adopted by the Commissioner pursuant to NRS 681B.550 ; or (b)The following applicable amount, according to the number of members in the organization:
Number of members Net worth
Less than 2,500............................................................................................... $50,000
At leas
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1. Each organization for dental care which receives a certificate of authority shall maintain a capital account with a net worth of not less than $500,000 unless a lesser amount is permitted in writing by the Commissioner.
2. An organization for dental care which has been issued a certificate of authority pursuant to this chapter shall maintain a capital account with a net worth in an amount which is not less than the greater of:
(a) The amount of risk-based capital required by regulations adopted by the Commissioner pursuant to NRS 681B.550 ; or
(b) The following applicable amount, according to the number of members in the organization:
Number of members Net worth
Less than 2,500............................................................................................... $50,000
At least 2,500 but not more than 5,000......................................................... 75,000
More than 5,000.............................................................................................. 125,000
3. The account must not be obligated for any accrued liabilities and must consist of cash, securities or a combination thereof which is acceptable to the Commissioner.