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Spring 2009 The Award Winning Photography of Diane McAllister Strategic Planning Session Financial Responsibility is Primary Goal 09 SESSION OF THE NEVADA LEGISLATURE What's Important for Homeowners
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Financial responsibility is primary refers to the legal obligation for individuals or entities to prove they have the means to cover potential damages or losses resulting from certain activities.
Individuals or entities engaged in activities that pose a potential risk of harm to others are typically required to file financial responsibility.
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The purpose of financial responsibility is primary is to protect individuals and entities from financial hardship resulting from accidents or incidents for which they are deemed responsible.
Information that must be reported on financial responsibility includes details of insurance policies, bond amounts, or asset valuations.
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