NRS695E.050. “Hazardous financial condition” defined.

Latest version.

“Hazardous financial condition” means that, based on its present or reasonably anticipated financial condition, a risk retention group, although not yet financially impaired or insolvent, is unlikely to be able to:

1. Meet obligations to policyholders with respect to known claims and reasonably anticipated claims; or

2. Pay other obligations in the normal course of business.

(Added to NRS by 1987, 1328)

                    
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