Learn About The Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2025 | Updated by Findlaw Staff
1. An essential insurance association shall, if requested to do so by the Commissioner, file a notice of intent to qualify as a domestic mutual insurer or a domestic reciprocal insurer. In the absence of a request by the Commissioner, an essential insurance association may file such a notice at such time as the association determines appropriate.
2. The notice must be filed with the Commissioner at least 4 months before the date the association is to become a domestic mutual insurer or a domestic reciprocal insurer and must include:
(a) An application prepared pursuant to chapter 680A of NRS for a certificate of authority to transact business in Nevada as a domestic mutual insurer or a domestic reciprocal insurer;
(b) A valuation of the policyholder's surplus according to both market and amortized value based on the association's annual financial statement for the previous year; and
(c) A provision for the return of any unused portion of the insured's capital stabilization charges.
Cite this article: FindLaw.com - Nevada Revised Statutes Title 57. Insurance § 686B.350. Conversion into domestic mutual insurer or domestic reciprocal insurer: Filing and contents of notice of intent to qualify - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-57-insurance/nv-rev-st-686b-350/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)