1. When, by or pursuant to the laws of any other state or foreign country or province, any taxes, licenses and other fees in the aggregate, and any fines, penalties, deposit requirements or other material requirements, obligations, prohibitions or restrictions are or would be imposed upon Nevada insurers doing business or that might seek to do business in such state, country or province, or upon the agents or representatives of such insurers or upon brokers or adjusters, which are in excess of such taxes, licenses and other fees in the aggregate, or which are in excess of the fines, penalties, deposit requirements or other requirements, obligations, prohibitions or restrictions directly imposed upon similar insurers, or upon the agents or representatives of such insurers, or upon brokers, or upon adjusters, of such other state, country or province under the statutes of this state, so long as such laws of such other state, country or province continue in force or are so applied, the same taxes, licenses and other fees in the aggregate, or fines, penalties or deposit requirements or other material requirements, obligations, prohibitions or restrictions of whatever kind must be imposed by the Commissioner or the Department of Taxation upon the insurers, or upon the agents or representatives of such insurers, or upon brokers, of such other state, country or province doing business or seeking to do business in Nevada. Any tax, license or other fee or other obligation imposed by any city, county or other political subdivision or agency of such other state, country or province on Nevada insurers or their agents, representatives or adjusters shall be deemed to be imposed by such state, country or province within the meaning of this section.

2. This section does not apply to:

(a) Personal income taxes;

(b) Ad valorem taxes on real or personal property; or

(c) Special purpose obligations or assessments imposed by another state in connection with particular kinds of insurance other than property insurance,

except that deductions, from premium taxes or other taxes otherwise payable, allowed on account of real or personal property taxes paid must be taken into consideration by the Commissioner and the Executive Director of the Department of Taxation in determining the propriety and extent of retaliatory action under this section.

3. For the purposes of this section the domicile of an alien insurer, other than insurers formed under the laws of Canada or a province thereof, is that state designated by the insurer in writing filed with the Commissioner at the time of admission to this state or within 6 months after January 1, 1972, whichever date is the later, and may be any one of the following states:

(a) That in which the insurer was first authorized to transact insurance;

(b) That in which is located the insurer’s principal place of business in the United States of America; or

(c) That in which is held the largest deposit of trusteed assets of the insurer for the protection of its policyholders in the United States of America.

If the insurer makes no such designation, its domicile shall be deemed to be that state in which is located its principal place of business in the United States of America.

4. The domicile of a Canadian insurer is the province of Canada in which its head office is located.

(Added to NRS by 1971, 1590; A 1993, 1905)