Nevada Revised Statutes 679B.187 – Person who invests or handles money or assets of insurer designated fiduciary; prohibited conduct by fiduciary; penalty
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1. An officer, director, employee or agent of a domestic or foreign insurer who has the duty or power of investing or handling the money or assets of the insurer located in this state is a fiduciary of that money or those assets. Such an officer, director, employee or agent shall not appropriate, divert or convert to his or her own use such money or assets.
Terms Used In Nevada Revised Statutes 679B.187
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC
- Fiduciary: A trustee, executor, or administrator.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
2. A person who violates subsection 1 is guilty of embezzlement and, in addition to any other penalty provided by law, shall be punished in accordance with NRS 205.300.