Senate Bill No. 566–Committee on Government Affairs

 

March 26, 2001

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Referred to Committee on Government Affairs

 

SUMMARY—Requires release of certain liens created by former state industrial insurance system. (BDR S‑1478)

 

FISCAL NOTE:    Effect on Local Government: No.

                                 Effect on the State: No.

 

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EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted.

 

AN ACT relating to industrial insurance; requiring the successor organization to the state industrial insurance system to release certain liens created by the system; and providing other matters properly relating thereto.

 

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN

SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

 

1-1    Section 1. Section 137 of chapter 388, Statutes of Nevada 1999, at

1-2  page 1842, is hereby amended to read as follows:

1-3     Sec. 137.  1.  Any writ of attachment issued pursuant to the

1-4  provisions of NRS 616B.239 or any lien created pursuant to the

1-5  provisions of NRS 616B.251 or 616B.266 before January 1, 2000,

1-6  may be executed, foreclosed, released, compromised or satisfied on or

1-7  after that date by any successor organization to the state industrial

1-8  insurance system.

1-9     2.  The successor organization to the state industrial insurance

1-10  system shall, not later than July 1, 2001, take such actions as are

1-11  necessary to release or otherwise fully discharge, without

1-12  consideration, each lien created by the system that:

1-13    (a) Was created before January 1, 2000, to collect premiums,

1-14  penalties and interest due and unpaid from an employer who was

1-15  insured by the system; and

1-16    (b) On the effective date of this act, may no longer be executed,

1-17  foreclosed, compromised or satisfied by the successor organization.

1-18    Sec. 2.  This act becomes effective upon passage and approval.

 

1-19  H