Authority of Commissioner to liquidate or conserve company. When the Commissioner takes possession of the property and business of any company for the purpose of liquidation or conservation, he may liquidate or conserve the company. In such a liquidation or conservation the Commissioner has the same authority with reference to licensees as are vested in the Commissioner by title 55 of NRS with reference to banks and in addition may deposit money coming into his hands in the course of liquidation in one or more state or national banks or credit unions.
Last modified: February 26, 2006