Nevada Revised Statutes Title 57. Insurance § 694C.200. Authorization to apply for license in certain circumstances; license required to transact insurance; penalty

1. A captive insurer, when authorized by its articles of association, articles of incorporation or charter, may apply to the Commissioner for a license to transact insurance.

2. A captive insurer shall not transact insurance in this State unless the captive insurer first obtains a license from the Commissioner.

3. A person who violates this section is subject to the provisions of, and shall be punished pursuant to, the Unauthorized Insurers Act set forth in NRS 685B.020 to 685B.087, inclusive.