Nevada Revised Statutes 616A.330 – ‘Tangible net worth’ defined
Current as of: 2023 | Check for updates
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‘Tangible net worth’ means the value of all the assets, minus the value of all the liabilities, of a self-insured employer or an association of self-insured private employers except:
Terms Used In Nevada Revised Statutes 616A.330
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
1. Goodwill or excess cost over the fair market value of assets.
2. Any other items listed in the assets that are deemed unacceptable by the Commissioner because they cannot be justified or because they do not directly support the ability of the self-insured employer or association to pay a claim.