Retained asset account defined.
Nev. Rev. Stat. § 688D.060
in effectRetained asset account means any account or other mechanism by which the settlement of any proceeds payable under a policy of life insurance is accomplished by the insurer or a person acting on behalf of the insurer by depositing the proceeds into an account with draft or check writing privileges, where the proceeds are retained by the insurer, pursuant to a supplementary contract not involving annuity benefits.
Source: NV Statutes (Official Site)URL: https://www.leg.state.nv.us/nrs/NRS-688D.htmlFetched: 10/4/2026