Statute 616b 044

1. Any successor organization to the State Industrial Insurance System may take as credit as an asset or as a deduction from liability on account of reinsurance for reinsurance ceded to an assuming alien insurer with security based on discounted reserves for losses that were maintained by the System for accounting periods beginning before July 1, 1995, at a rate not to exceed 6 percent. 2. As used in this section, 'alien insurer' has the meaning ascribed to it in NRS 679A.090. (Added to NRS by 1999, 1763)—(Substituted in revision for NRS 616B.0867)