NRS 695E.150 - Identifying statement; plan of operation; Commissioner to serve as agent for service of process; filing fee; transmission of plan of operation by Commissioner.

NV Rev Stat § 695E.150 (2019) (N/A)

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1. Before transacting insurance in this state, a risk retention group must submit to the Commissioner:

(a) A statement of registration identifying:

(1) Each state in which the risk retention group is chartered or licensed as a liability insurer;

(2) The date of its charter;

(3) Its principal place of business; and

(4) Such other information, including information concerning its membership, as the Commissioner requires to verify its qualification as a risk retention group;

(b) A copy of its plan of operation and any revisions of the plan submitted to its state of domicile, except with respect to any line or classification of liability that was:

(1) Defined in the Product Liability Risk Retention Act of 1981 before October 27, 1986; and

(2) Offered before that date by a risk retention group that had been chartered and operating for not less than 3 years before that date; and

(c) A statement appointing the Commissioner as its agent for service of process pursuant to NRS 680A.250, together with the fee for filing a power of attorney required by subsection 4 of NRS 680B.010.

2. The Commissioner shall, upon receipt of any revisions of a plan of operation provided by a risk retention group pursuant to paragraph (b) of subsection 1, transmit a copy of those revisions to the National Association of Insurance Commissioners.

(Added to NRS by 1987, 1331; A 1995, 1783; 2013, 3376)

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NRS 695E.160 - Submission of financial statement, examinations, audits and other information.