Person who invests or handles money or assets of insurer designated fiduciary; penalty for engaging in prohibited conduct.
1. An officer, director, employee or agent of a domestic or foreign insurer who has the duty or power of investing or handling the money or assets of the insurer located in this state is a fiduciary of that money or those assets. Such an officer, director, employee or agent shall not appropriate, divert or convert to his own use such money or assets.
2. A person who violates subsection 1 is guilty of embezzlement and, in addition to any other penalty provided by law, shall be punished in accordance with NRS 205.300.
Last modified: February 27, 2006