Nev. Rev. Stat. » NRS: CHAPTER 696B - DELINQUENT INSURERS: CONSERVATION, REHABILITATION AND LIQUIDATION

Nev. Rev. Stat. § 696B.090

“General assets” defined

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NRS 696B.090  “General assets” defined.

      1.  “General assets” means all property, real, personal or otherwise, not specifically mortgaged, pledged, deposited or otherwise encumbered for the security or benefit of specified persons or a limited class or classes of persons, and as to such specifically encumbered property the term includes all such property or its proceeds in excess of the amount necessary to discharge the sums secured thereby.

      2.  Assets held in trust or on deposit for the security or benefit of all policyholders or all policyholders and creditors in the United States of America are deemed general assets.

      (Added to NRS by 1971, 1884)

     

Notes of Decisions
Cited in 2 cases, 1993–1993 · leading case: Frontier Insurance Service, Inc. v. State ex rel. Gates
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Frontier Insurance Service, Inc. v. State ex rel. Gates (1993) nev “…as general assets. Ind. Code Ann. § 27-9 -l-2(j); NRS 696B.090. Ind. Code Ann. § 27-9 -l-2(r) defines “special deposit claim” as “any claim secured by a deposit made under law for the security or benefit of a limited class or classes of persons, but not including any claim”
Frontier Ins. Serv. v. STATE, COM'R INS. (1993) nev “§ 27-9-1-2(j); NRS 696B.090. Ind.Code Ann. § 27-9-1-2(r) defines "special deposit claim" as "any claim secured by a deposit made under law for the security or benefit of a limited class or classes of persons, but not including any claim secured by general assets.”
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