Authority of successor organization to take credit for reinsurance.
1. Any successor organization to the State Industrial Insurance System may take as credit as an asset or as a deduction from liability on account of reinsurance for reinsurance ceded to an assuming alien insurer with security based on discounted reserves for losses that were maintained by the System for accounting periods beginning before July 1, 1995, at a rate not to exceed 6 percent.
2. As used in this section, “alien insurer” has the meaning ascribed to it in NRS 679A.090.
Last modified: February 25, 2006