Nevada Revised Statutes 618.770 – Assessments and fees: Establishment; collection; use
1. The costs of carrying out the provisions of NRS 618.750 to 618.850, inclusive, must be paid from assessments payable by each insurer based upon expected annual expenditures for claims. The Division shall adopt regulations which establish formulas of assessment which result in an equitable distribution of costs among the insurers.
Terms Used In Nevada Revised Statutes 618.770
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
2. In addition, the Division shall by regulation establish a schedule of fees designed to recover revenue to defray the costs of carrying out the provisions of NRS 618.750 to 618.850, inclusive. The Division may collect fees for applications, the issuance and renewal of licenses, examinations, the review and approval of training courses, job notifications and inspections, recordkeeping, and any other activity of the Division related to the provisions of NRS 618.750 to 618.850, inclusive. The fee for the issuance or renewal of a license must not exceed $200.
3. Any fees collected pursuant to this section must be used to offset the assessments established pursuant to subsection 1.
4. As used in this section, ‘insurer’ has the meaning ascribed to it in NRS 232.550.