Nev. Admin. Code § 616B.546 - Required security deposit: Records; maintenance and review of lists of claims; costs of administration
An association shall maintain such records as are necessary to document that it maintains an adequate amount for a security deposit pursuant to NRS 616B.353. To determine the accuracy of the recorded and reported amounts for claim reserves, the association shall maintain and the Commissioner will review:
1. A list of open and closed claims, which
must include:
(a) The claimant's
name;
(b) The number assigned to
the claim;
(c) The date of the
injury;
(d) The status of the
claim, including whether it is open or closed;
(e) The total reserve amount for medical
costs and indemnity for each claim;
(f) The total amount paid for medical costs
and indemnity for each claim;
(g)
The total reserve balance for medical costs and indemnity for each
claim;
(h) The total incurred cost
of each claim;
(i) The total for
all claims of payments for medical costs and indemnity; and
(j) The total of reserve balances for all
open claims, including future liabilities for medical costs and
indemnity.
2. A list of
claims covered or paid by excess insurance.
3. The cost of administration of
claims.
Notes
NRS 616B.353, 616B.446, 679B.130
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