An insurer shall pay the proceeds of any benefits under a policy of life insurance not more than 30 days after the death of the insured. If the proceeds are not paid within this period, the insurer shall pay interest on the proceeds, at a rate which is not less than the current rate of interest on death proceeds on deposit with the insurer, from the date of death of the insured to the date when the proceeds are paid.
NRS 688A.410
Payment of life insurance proceeds; interest
Known as the Standard Nonforfeiture Law
The act spans §§ 688–688 (62 sections).
(Added to NRS by 1977, 626)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.