Nevada Revised Statutes 686C.070 – ‘Contractual obligation’ defined
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‘Contractual obligation‘ means any obligation under a policy or contract or a certificate under a group policy or contract, or portion thereof, for which coverage is provided under NRS 686C.030.
Terms Used In Nevada Revised Statutes 686C.070
- Contract: A legal written agreement that becomes binding when signed.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.