Nevada Revised Statutes 694C.143 – ‘Sponsor’ defined
Current as of: 2023 | Check for updates
|
Other versions
‘Sponsor’ means an insurer licensed pursuant to the laws of any state, a reinsurer authorized or approved under the laws of any state, a captive insurer formed or licensed pursuant to this chapter or a person that:
Terms Used In Nevada Revised Statutes 694C.143
- 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
1. Meets the requirements of subsection 3 of NRS 694C.180 or is approved as a sponsor by the Commissioner; and
2. Is approved by the Commissioner to provide all or part of the capital and surplus required by applicable law and to organize and operate a sponsored captive insurer.