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Nevada Revised Statutes Title 57. Insurance § 694C.050. “Association captive insurer” defined

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

“Association captive insurer” means a captive insurer that only insures risks of the member organizations of an association and the affiliated companies of those members if:

1. The association or the member organizations of the association:

(a) Have complete control over the power to vote all the outstanding voting securities of the association captive insurer, if the association captive insurer is incorporated as a stock insurer; or

(b) Have complete voting control over the captive insurer, if the captive insurer is formed as a mutual insurer; and

2. The member organizations of the association collectively constitute all the subscribers of the captive insurer, if the captive insurer is formed as a reciprocal insurer.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 57. Insurance § 694C.050. “Association captive insurer” defined - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-57-insurance/nv-rev-st-694c-050/

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.

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