Nevada Revised Statutes 695B.165 – Annual statement required to include report of net worth
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A corporation which has been issued a certificate of authority pursuant to this chapter shall maintain and report on its statement filed with the Commissioner pursuant to NRS 695B.160 a net worth in an amount which is not less than the greater of:
Terms Used In Nevada Revised Statutes 695B.165
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
1. One million five hundred thousand dollars;
2. Two percent of the first $150,000,000 earned as revenue from premiums collected in the preceding 12-month period, plus 1 percent of the amount in excess of $150,000,000 earned as revenue from premiums collected in that same period; or
3. The amount of risk-based capital required by regulations adopted by the Commissioner pursuant to NRS 681B.550.