Statutes > Nevada Statutes > TITLE 57 - INSURANCE > Chapter 681A - Kinds of Insurance; Limits on Risk; Reinsurance > REINSURANCE > Brokers and Managers > 681A.320 - “Facultative” defined.

681A.320 - “Facultative” defined.

681A.320  “Facultative” defined.  A submission is “facultative” if both the primary insurer and the reinsurer have the choice to accept or reject the submission.

      (Added to NRS by 1995, 1760)