Nevada Revised Statutes 681A.213 – List of reciprocal jurisdictions
1. The Commissioner shall timely create and publish a list of reciprocal jurisdictions.
Terms Used In Nevada Revised Statutes 681A.213
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
2. The Commissioner’s list:
(a) Must include, without limitation, any reciprocal jurisdiction which meets the requirements of subsection 1 or 2 of NRS 681A.062;
(b) May include, without limitation, any other reciprocal jurisdiction which is included on an applicable list of reciprocal jurisdictions published by the NAIC; and
(c) May include, without limitation, a reciprocal jurisdiction that does not appear on an applicable list of reciprocal jurisdictions published by the NAIC if the Commissioner has approved the reciprocal jurisdiction pursuant to applicable law or in accordance with applicable criteria published by the NAIC.
3. The Commissioner may remove a jurisdiction from the list of reciprocal jurisdictions upon a determination that the jurisdiction no longer meets one or more of the requirements of a reciprocal jurisdiction, as provided by applicable law or in accordance with an applicable process published by the NAIC, except that the Commissioner must not remove from the list a reciprocal jurisdiction which meets the requirements of subsection 1 or 2 of NRS 681A.062. Upon removal of a reciprocal jurisdiction from the Commissioner’s list, credit for reinsurance ceded to an assuming insurer which has its home office or is domiciled in that jurisdiction must be allowed if otherwise allowed pursuant to NRS 681A.110 to 681A.240, inclusive.