LegalFix
Sign In

NRS 686B.1781 - Payment of dividends: Prohibition against discrimination; submission of plan for payments related to industrial insurance.

NV Rev Stat § 686B.1781 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

1. An insurer shall not unfairly discriminate among its policyholders in paying a dividend, savings, unearned premium deposits or an equivalent abatement of premiums allowed or returned by an insurer for a policy of industrial insurance.

2. A plan for the payment of dividends for industrial insurance must be filed before there is a dividend payment. The plan shall be deemed approved unless the Commissioner disapproves the plan within 30 days after it is filed and received by the Commissioner. An insurer shall not condition the payment of a dividend upon the renewal of a policy or contract by the policyholder, member or subscriber.

3. An insurer paying savings, unearned premium deposits or an equivalent abatement for premiums allowed or returned for a policy of industrial insurance must receive prior approval.

(Added to NRS by 1995, 2053; A 2003, 3305)

Previous Section
NRS 686B.178 - Commissioner to issue written order stating reasons for disapproval and date by which insurer must discontinue use of rate.
Next Section
NRS 686B.1782 - Agreements to lessen competition among insurers prohibited; insurers prohibited from agreeing to rates established in manner that conflicts with provisions.