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NRS 687B.300

Retention of proceeds of policy by insurer

(Added to NRS by 1971, 1724)

1. Any life insurer shall have power to hold payment of proceeds, as has been agreed to in writing by the insurer and the insured or beneficiary. The insurer shall not be required to segregate funds so held but may hold them as a part of its general corporate assets.

2. The provisions of this section shall not impair or affect any rights of creditors under NRS 687B.260 or 687B.290.

Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.