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Nevada Revised Statutes Title 57. Insurance § 681A.430. License to act as intermediary

Current as of January 01, 2025 | Updated by Findlaw Staff

1. The Commissioner may issue a license to act as an intermediary to any person who has complied with the requirements of NRS 681A.250 to 681A.580, inclusive, and who submits a written application for a license to act as an intermediary, the appropriate fee set forth in NRS 680B.010 and, in addition to any other fee or charge, all applicable fees required pursuant to NRS 680C.110. A license issued to a firm or association authorizes all the members of the firm or association and any designated employees to act as intermediaries. All those persons must be named in the application and any supplements thereto. A license issued to a corporation authorizes all of the officers and any designated employees and directors of the corporation to act as intermediaries on behalf of the corporation. All those persons must be named in the application and in any supplements thereto.

2. If an applicant for a license to act as an intermediary is a nonresident, the applicant shall:

(a) Designate the Commissioner as agent for service of process;

(b) Furnish the Commissioner with the name and address of a resident of Nevada upon whom notices or orders of the Commissioner or process affecting the nonresident reinsurance intermediary may be served; and

(c) Promptly notify the Commissioner in writing of every change in the applicant’s designated agent for service of process. The change is not effective until acknowledged by the Commissioner.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 57. Insurance § 681A.430. License to act as intermediary - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-57-insurance/nv-rev-st-681a-430/

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