Nevada Revised Statutes 692C.460 – Receivership
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Whenever it appears to the Commissioner that any person has committed a violation of this chapter, which so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders, creditors, shareholders or the public, the Commissioner may proceed as provided in chapter 696B of NRS to take possession of the property of such domestic insurer and to conduct the business thereof.
Terms Used In Nevada Revised Statutes 692C.460
- 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