Nevada Code § 645.848

Distribution of payment from Fund if claims exceed maximum liability of Fund; order of payment of claims if balance of Fund insufficient; interest; use of certain money deposited in Fund
Open in Lexace · Ask the AI about this section
1. Whenever claims are filed against the
Fund which total more than the maximum liability for the acts of one licensee,
the maximum liability of the Fund for each licensee must be distributed among
the claimants in a ratio that their respective claims bear to the total of all
claims, or in any other manner that the court may find equitable.
2. The distribution must be made without
regard to the order of priority in which claims were filed or judgments
entered.
3. Upon petition of the Administrator, the
court may require all claimants and prospective claimants to be joined in one
action so that the respective rights of all claimants may be equitably
determined.
4. If, at any time, the money deposited in
the Fund and allotted for satisfying claims against licensees is insufficient
to satisfy any authorized claim or portion thereof, the Administrator shall,
when sufficient money has been deposited in the Fund, satisfy the unpaid claims
or portions thereof, in the order that the claims or portions thereof were
originally filed, plus accumulated interest at the rate of 6 percent per annum.
Any sums received by the Division pursuant to NRS
645.847 and 645.8491 must be
deposited in the State Treasury for credit to the account for education and
research in the Fund.

‹ Prev All Nevada sections Next ›


Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.