Nevada Revised Statutes 694C.200 – Authorization to apply for license in certain circumstances; license required to transact insurance; penalty
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1. A captive insurer, when authorized by its articles of association, articles of incorporation or charter, may apply to the Commissioner for a license to transact insurance.
Terms Used In Nevada Revised Statutes 694C.200
- 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
2. A captive insurer shall not transact insurance in this State unless the captive insurer first obtains a license from the Commissioner.
3. A person who violates this section is subject to the provisions of, and shall be punished pursuant to, the Unauthorized Insurers Act set forth in NRS 685B.020 to 685B.087, inclusive.