{"data":{"id":"us-nv/nrs-681a.530","jurisdiction":"us-nv","citation":"NRS 681A.530","heading":"Managers: Maintenance of records of transactions; access to accounts and records by reinsurer.","body":"1. For at least 10 years after expiration of each contract of reinsurance transacted by a manager for reinsurance, the manager for reinsurance shall keep a complete record for each transaction, including evidence of:\n(a) The type of contract, limits, underwriting restrictions, classes or risks and territory;\n(b) The period of coverage, including effective and expiration dates, provisions concerning cancellation and notice of cancellation, and disposition of outstanding reserves on covered risks;\n(c) The requirements for reporting and settling balances;\n(d) The rate used to compute the reinsurance premium;\n(e) The names and addresses of reinsurers;\n(f) The rates of all commissions for reinsurance, including the commissions on any retrocessions handled by the manager for reinsurance;\n(g) Any related correspondence and memoranda;\n(h) Proof of placement;\n(i) Any details regarding retrocessions handled by the manager for reinsurance, including the identity of retrocessionaires and percentage of each contract assumed or ceded;\n(j) Financial records, including accounts of premium and loss; and\n(k) If the manager for reinsurance places a contract of reinsurance on behalf of a ceding insurer:\n(1) Directly from any assuming reinsurer, written evidence that the assuming reinsurer has agreed to assume the risk; or\n(2) Through a representative of the assuming reinsurer, other than an employee, written evidence that the reinsurer has delegated binding authority to the representative.\n2. The manager for reinsurance shall allow a reinsurer to have access and to copy all accounts and records maintained by the manager for reinsurance related to its business in a form usable by the reinsurer.","path":["TITLE 57 — INSURANCE","CHAPTER 681A - KINDS OF INSURANCE; LIMITS ON RISK; REINSURANCE","REINSURANCE","Brokers and Managers"],"source_url":"https://www.leg.state.nv.us/NRS/NRS-681A.html#NRS681ASec530","current_through":"2025 session (NRS as revised 2026-08-25)","vintage":"","retrieved_at":"2026-09-03T05:51:46Z","sha256":"cca522b5abded5868ea4b577224b12c116f4b7b3eb7f613a3c70d36c4e657465","source_id":"us-nv","stale":true,"prev":"us-nv/nrs-681a.520","next":"us-nv/nrs-681a.540"},"notice":"GroundRules: Original legal text. Not legal advice."}