Nevada Revised Statutes 681A.280 – ‘Broker for reinsurance’ defined
Current as of: 2023 | Check for updates
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‘Broker for reinsurance’ means a person who negotiates a contract of reinsurance between a reinsured and reinsurer on behalf of the reinsured and who receives a commission for placement and other services rendered. The term does not include the ceding insurer.
Terms Used In Nevada Revised Statutes 681A.280
- Contract: A legal written agreement that becomes binding when signed.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039