1. Except as otherwise provided in subsection 2, an insurer who issues policies of
insurance for home protection, other than casualty insurance, shall deposit, in accordance
with chapter 682B of NRS, securities having a market value of not less than $50,000, unless the insurer furnishes
evidence satisfactory to the Commissioner of maintaining a deposit of not less than
that amount which complies with the requirements of the state of domicile of the insurer
and is held for the protection of all holders of insurance contracts.
2. In lieu of the deposit of securities, the insurer may post with the Commissioner
a surety bond of not less than $50,000 executed by an insurer who has a valid certificate
of authority issued by the Commissioner.
3. The insurer shall maintain:
(a) Unimpaired paid-in capital stock or unimpaired basic surplus, or a combination
thereof, in an amount not less than 10 percent of the amount charged as premiums for
insurance currently in effect, but not less than $50,000, nor more than is required
by NRS 680A.120 for a certificate of authority.
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