Nev. Rev. Stat. § 687B.280

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1
Section 687B.280 - Exemption of proceeds: Group insurance
1. A policy of group life insurance or group health insurance or the proceeds thereof payable to the individual insured or to the beneficiary thereunder shall not be liable, either before or after payment, to be applied by any legal or equitable process to pay any debt or liability of such insured individual or his or her beneficiary or of any other person having a right under the policy. The proceeds thereof, when not made payable to a named beneficiary or to a third person pursuant to a facility-of-payment clause, shall not constitute a part of the estate of the individual insured for the payment of the debts of the individual insured.
2. This section does not apply to group insurance issued pursuant to this Code to a creditor covering his or her debtors, to the extent that such proceeds are applied to payments of the obligation for the purpose of which the insurance was so issued.

NRS 687B.280

Added to NRS by 1971, 1723
Added to NRS by 1971, 1723