NRS 680A.190
Suspension or revocation of certificate of authority: Mandatory grounds.

1.

The Commissioner shall refuse to continue or shall suspend or revoke an insurer’s certificate of authority:

(a)

If such action is required by any provision of this Code;

(b)

If it is a foreign insurer and it no longer meets the requirements for a certificate of authority, on account of deficiency of capital or surplus or otherwise;

(c)

If it is a domestic insurer and it has failed to cure an impairment of capital or surplus within the time allowed therefor by the Commissioner under this Code or is otherwise no longer qualified for the certificate of authority;

(d)

If the insurer’s certificate of authority to transact insurance therein is suspended or revoked by its state of domicile, or state of entry into the United States of America if an alien insurer;

(e)

For failure of the insurer to pay taxes on its premiums if required by this Code; or

(f)

For failure of the insurer to furnish information to the Commissioner relating to medical malpractice insurance issued by the insurer in this State or any other state.

2.

Except in case of insolvency, impairment of required capital or surplus, or suspension or revocation by another state, the Commissioner shall give the insurer at least 20 days’ notice in advance of any such refusal, suspension or revocation under this section, and of the particulars of the reasons therefor. If the insurer requests a hearing thereon within those 20 days, the Commissioner’s proposed action is automatically stayed until an order by the Commissioner is made after the hearing.

Source: Section 680A.190 — Suspension or revocation of certificate of authority: Mandatory grounds., https://www.­leg.­state.­nv.­us/NRS/NRS-680A.­html#NRS680ASec190.

680A.010
Definitions. 680A.020
“Charter” defined. 680A.028
“Multiple employer welfare arrangement” defined. 680A.030
“Mutual” insurer defined. 680A.040
“Reciprocal” insurer defined. 680A.050
“Stock” insurer defined. 680A.058
Applicability of chapter to self-funded multiple employer welfare arrangements. 680A.060
Certificate of authority required 680A.070
Exceptions to requirement of certificate of authority. 680A.080
Eligibility for certificate of authority: General requirements. 680A.082
Eligibility for certificate of authority: Additional requirements for self-funded multiple employer welfare arrangements. 680A.090
Eligibility for certificate of authority: Ownership 680A.095
Certificate of authority required to transact reinsurance 680A.100
Name of insurer. 680A.110
Combinations of insuring powers. 680A.120
Required capital. 680A.130
Combinations of insurance for which additional capital not required. 680A.140
Required deposit 680A.150
Application for certificate of authority. 680A.155
Payment of taxes and penalties by certain applicants. 680A.160
Issuance or refusal of certificate of authority 680A.165
Insurer’s duty to notify Commissioner of all material changes to information provided in application for certificate of authority 680A.170
Amended certificate of authority. 680A.173
Transfer of insurer’s domicile: Foreign insurer may become domestic insurer. 680A.175
Transfer of insurer’s domicile: Termination of status as domestic insurer 680A.177
Transfer of insurer’s domicile: Duties of insurer 680A.180
Continuance, expiration and reinstatement of certificate of authority. 680A.190
Suspension or revocation of certificate of authority: Mandatory grounds. 680A.200
Suspension, limitation or revocation of certificate of authority: Grounds 680A.205
Determination of hazardous financial condition of insurer: Regulations 680A.210
Order and notice of suspension, limitation or revocation of certificate 680A.220
Duration of suspension 680A.230
Applicability of general corporation laws to foreign insurers. 680A.240
Additional titles. 680A.250
Commissioner agent for service of process for certain insurers. 680A.260
Method of serving process 680A.265
Filing of annual financial statement 680A.270
Filing of annual statement and payment of fee by authorized insurers 680A.280
Penalties for late or false statements. 680A.290
Loss prevention reports and programs. 680A.300
Agent required 680A.310
Exceptions to requirements for countersignature by agent. 680A.320
Transaction with parent corporation, financial holding company, depository institution, subsidiary or affiliated person. 680A.330
Retaliatory provision.
Last Updated

Jun. 24, 2021

§ 680A.190’s source at nv​.us