Nev. Admin. Code § 616B.77051 - Procedures for reimbursement from Account for certain compensation paid by annuities purchased by self-insured employer to injured employee
1. A self-insured employer who purchases an
annuity to satisfy the payment of a claim that is filed with the self-insured
employer pursuant to chapters 616A to 617, inclusive, of NRS may submit a claim
for reimbursement from the Subsequent Injury Account for Self-Insured Employers
in accordance with NAC
616B.770 to
616B.7725, inclusive .
2. The self-insured employer may submit, as
provided in subsection 3, a claim for reimbursement for the amount of
compensation that the annuity paid to the injured employee for whom the annuity
was purchased.
3. The self-insured
employer may submit a claim for reimbursement annually on the anniversary date
of the purchase of the annuity or more frequently with good cause
shown.
4. The Board will not
approve or pay a claim for reimbursement for the cost of an annuity submitted
pursuant to this section for:
(a) Any amounts
which exceed the lesser of:
(1) The price of
the annuity; or
(2) The aggregate
amount of compensation that the injured employee has been paid from the
annuity;
(b) Attorney's
fees relating to the purchase of the annuity; or
(c) Any administrative expenses or other
expenses relating to the purchase of the annuity, including, without
limitation, expenses for the copying of records.
5. As used in this section, "good cause"
includes, without limitation, a financial exigency or extraordinary
circumstance.
Notes
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