Nev. Admin. Code § 616B.484 - Reserve Account to Protect Against Insolvency: Special assessments; notification by mail; failure to pay; exception
1.
Except as otherwise provided in subsection 3, if the Commissioner determines
that the balance in the Reserve Account is insufficient to pay compensation on
behalf of an insolvent self-insured employer or if an insolvent self-insured
employer fails to reimburse the Account, the Commissioner will assess all
employers certified as self-insurers on the date of the assessment, an amount
determined by the Commissioner to either pay claims or restore the balance of
the Reserve Account. After determining the amount necessary for the assessment,
the Commissioner will mail, by regular mail, each self-insured employer a
notice specifying the amount of the assessment and the date that it is due, at
least 20 days before that date.
2.
Each self-insured employer shall remit, on the date specified in the notice, to
the Commissioner the total amount of the assessment. Failure by a self-insured
employer to pay an assessment is prima facie evidence that the employer has
intentionally failed to comply with the regulations of the Commissioner and is
grounds for the imposition of a fine or the withdrawal of the certification as
a self-insured employer pursuant to
NRS
616B.318.
3. If:
(a)
The Reserve Account has been used to pay the claims of an insolvent
self-insured employer;
(b) That
self-insured employer fails to reimburse the Reserve Account; and
(c) The Commissioner determines that the
balance of the Reserve Account is sufficient to pay compensation on behalf of
other insolvent self-insured employers,
the Commissioner may decide not to impose an assessment pursuant to this section against employers certified as self-insured employers on that date.
Notes
NRS 616B.309, 679B.130
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