Section 616B.552 - Deposit of bond by association's administrator; minimum and maximum amount of bond; filing of statement regarding association's money1. Except as otherwise provided in subsection 2, an association's administrator shall deposit with the Commissioner a bond in the amount of $1,000 for each $100,000, or portion thereof, of the association's money which he or she will control.2. The minimum bond required pursuant to this section is $100,000. The maximum bond required pursuant to this section is $1,000,000.3. On or before April 1 of each year, the association's administrator shall file with the Commissioner a statement of the actual amount of the association's money that he or she controlled in the previous calendar year and the amount of the association's money that he or she expects to control in the next calendar year.Nev. Admin. Code § 616B.552
Added to NAC by Comm'r of Insurance, eff. 3-22-96; A by R139-99, 1-27-2000NRS 616B.353, 616B.446, 679B.130