A voluntary purchasing group shall offer to collect premiums for contracts offered through the purchasing group and maintain a trust account for the deposit of premiums collected to be paid to carriers for coverage offered through the purchasing group. A voluntary purchasing group is a fiduciary with respect to any premiums so collected.
NRS 689C.550
Collection of premiums; trust account for deposit of premiums
(Added to NRS by 1995, 2681)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.