Nevada Revised Statutes 685A.034 – ‘Home state’ defined
‘Home state’ means:
Terms Used In Nevada Revised Statutes 685A.034
- Contract: A legal written agreement that becomes binding when signed.
1. For an insured:
(a) The state in which the insured maintains its principal place of business or, in the case of an individual, the individual’s principal residence; or
(b) If 100 percent of the insured risk is located outside of the state determined pursuant to paragraph (a), the state to which the greatest percentage of the insured’s taxable premium for that insurance contract is allocated.
2. If more than one insured from an affiliated group is a named insured on a single nonadmitted insurance contract, the state determined pursuant to paragraph (a) of subsection 1 for the member of the affiliated group that has the largest percentage of premium attributed to it under the nonadmitted insurance contract.
3. For a policy of group insurance:
(a) If the group policyholder pays 100 percent of the premium from its own funds, the state determined pursuant to paragraph (a) of subsection 1 for the group policyholder.
(b) If the group policyholder does not pay 100 percent of the premium from its own funds, the state determined pursuant to paragraph (a) of subsection 1 for the group member.