Nevada Revised Statutes Section 695B.150 - Insurance

Insolvency; determination of financial condition. A corporation organized under this chapter shall be deemed to be insolvent if its reserve fund is impaired so as to be less than the amounts set forth in NRS 695B.140. For the purposes of determining such insolvency and the financial condition of such a corporation, for the purposes of preparation of annual statements, and for all other purposes not otherwise expressly provided for in this chapter, such a corporation shall be subject to all requirements of the laws of the State of Nevada as to assets, liabilities and reserves which are applicable to mutual nonassessable legal reserve disability insurers.

Last modified: February 27, 2006