Nevada § 686B.350 Conversion into domestic mutual insurer or domestic reciprocal insurer: Filing and contents of notice of intent to qualify

Nevada Statutes

§ 686B.350 — Conversion into domestic mutual insurer or domestic reciprocal insurer: Filing and contents of notice of intent to qualify

Nevada § 686B.350

Title 57INSURANCE

Ch. 686BRates

Associations

This text of Nevada § 686B.350 (Conversion into domestic mutual insurer or domestic reciprocal insurer: Filing and contents of notice of intent to qualify) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 686B.350 (2026).

Text

1. An essential insurance association shall, if requested to do so by the Commissioner, file a notice of intent to qualify as a domestic mutual insurer or a domestic reciprocal insurer. In the absence of a request by the Commissioner, an essential insurance association may file such a notice at such time as the association determines appropriate. 2. The notice must be filed with the Commissioner at least 4 months before the date the association is to become a domestic mutual insurer or a domestic reciprocal insurer and must include:

(a)An application prepared pursuant to chapter 680A of NRS for a certificate of authority to transact business in Nevada as a domestic mutual insurer or a domestic reciprocal insurer;

(b)A valuation of the policyholder’s surplus according to both market and a

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1. An essential insurance association shall, if requested to do so by the Commissioner, file a notice of intent to qualify as a domestic mutual insurer or a domestic reciprocal insurer. In the absence of a request by the Commissioner, an essential insurance association may file such a notice at such time as the association determines appropriate.
2. The notice must be filed with the Commissioner at least 4 months before the date the association is to become a domestic mutual insurer or a domestic reciprocal insurer and must include:
(a) An application prepared pursuant to chapter 680A of NRS for a certificate of authority to transact business in Nevada as a domestic mutual insurer or a domestic reciprocal insurer;
(b) A valuation of the policyholder’s surplus according to both market and amortized value based on the association’s annual financial statement for the previous year; and
(c) A provision for the return of any unused portion of the insured’s capital stabilization charges.