Nevada § 616B.042 - Money to provide compensation held in trust; conditions when trust money to be deposited in Fund
Full text of Nevada Nevada Revised Statutes § 616B.042 — Money to provide compensation held in trust; conditions when trust money to be deposited in Fund, with citation guidance and answers to common questions.
§ 616B.042. Money to provide compensation held in trust; conditions when trust money to be deposited in Fund
1. The chief executive officer of any successor organization to the State Industrial
Insurance System shall continue to hold in trust any money paid to the System for
the purpose of providing compensation for industrial accidents and occupational diseases
and administrative expenses incidental thereto. The successor organization shall use that money only for the purpose for which it
was paid. 2. If any successor organization to the State Industrial Insurance System ceases to
provide industrial insurance in this State, all money held in trust pursuant to subsection
1 must be delivered to the Commissioner on a date that ensures that all benefits will
be paid to qualified claimants under policies of industrial insurance previously issued
by the State Industrial Insurance System or the successor organization. The Commissioner shall deposit the money delivered to the Commissioner pursuant to
this subsection in the State Insurance Fund.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 616B.042
What does Nevada Revised Statutes § 616B.042 cover?
Section 616B.042 ("Money to provide compensation held in trust; conditions when trust money to be deposited in Fund") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 616B.042?
A common citation format is "Nevada Revised Statutes § 616B.042" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 616B.042 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.