Nevada § 694C.210 Application: Requirement; contents

Nevada Statutes

§ 694C.210 — Application: Requirement; contents

Nevada § 694C.210

Title 57INSURANCE

Ch. 694CCaptive

LICENSING

This text of Nevada § 694C.210 (Application: Requirement; contents) 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. § 694C.210 (2026).

Text

A captive insurer must apply to the Commissioner for a license. The application must include: 1. A certified copy of the charter and bylaws of the captive insurer; 2. A pro forma financial statement for the captive insurer that has been prepared by a certified public accountant or an actuary authorized by the Division to conduct business in this State; 3. Any other statements or documents that the Commissioner requires to be filed with the application; 4. Evidence of:

(a)The amount and liquidity of its assets relative to the risks to be assumed by the captive insurer;

(b)The expertise, experience and character of the persons who will manage the captive insurer;

(c)The overall soundness of the plan of operation of the captive insurer; and

(d)The adequacy of the programs of the captive i

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A captive insurer must apply to the Commissioner for a license. The application must include:
1. A certified copy of the charter and bylaws of the captive insurer;
2. A pro forma financial statement for the captive insurer that has been prepared by a certified public accountant or an actuary authorized by the Division to conduct business in this State;
3. Any other statements or documents that the Commissioner requires to be filed with the application;
4. Evidence of:
(a) The amount and liquidity of its assets relative to the risks to be assumed by the captive insurer;
(b) The expertise, experience and character of the persons who will manage the captive insurer;
(c) The overall soundness of the plan of operation of the captive insurer; and
(d) The adequacy of the programs of the captive insurer providing for loss prevention by its parent or member organizations, as applicable; and
5. Such other information deemed to be relevant by the Commissioner in ascertaining whether the proposed captive insurer will be able to meet its policy obligations.