NRS 680A.270
Filing of annual statement and payment of fee by authorized insurers

  • statement of alien insurer
  • filing of quarterly statement by domestic insurer
  • regulations
  • confidentiality of certain information.

1.

Each authorized insurer shall annually on or before March 1, or within any reasonable extension of time therefor which the Commissioner for good cause may have granted on or before that date, file with the Commissioner a full and true statement of its financial condition, transactions and affairs as of December 31 preceding. The statement must be:

(a)

In the general form and context of, and require information as called for by, an annual statement as is currently in general and customary use in the United States for the type of insurer and kinds of insurance to be reported upon, with any useful or necessary modification or adaptation thereof, supplemented by additional information required by the Commissioner;

(b)

Prepared in accordance with:

(1)

The Annual Statement Instructions for the type of insurer to be reported on as adopted by the National Association of Insurance Commissioners for the year in which the insurer files the statement; and

(2)

The Accounting Practices and Procedures Manual adopted by the National Association of Insurance Commissioners and effective on January 1, 2001, and as amended by the National Association of Insurance Commissioners after that date; and

(c)

Verified by the oath of the insurer’s president or vice president and secretary or actuary, as applicable, or, in the absence of the foregoing, by two other principal officers, or if a reciprocal insurer, by the oath of the attorney-in-fact, or its like officers if a corporation.

2.

The statement of an alien insurer must be verified by its United States manager or other officer who is authorized to do so, and may relate only to the insurer’s transactions and affairs in the United States unless the Commissioner requires otherwise. If the Commissioner requires a statement as to the insurer’s affairs throughout the world, the insurer shall file the statement with the Commissioner as soon as reasonably possible.

3.

The Commissioner may refuse to continue, or may suspend or revoke, the certificate of authority of any insurer failing to file its annual statement when due.

4.

At the time of filing its annual statement with the Commissioner, the insurer shall pay the fee for filing its annual statement as prescribed by NRS 680B.010.

5.

Each domestic insurer shall file with the Commissioner and the National Association of Insurance Commissioners a quarterly statement in the form most recently adopted by the National Association of Insurance Commissioners for that type of insurer. The quarterly statement must be:

(a)

Prepared in accordance with the instructions which are applicable to that form, including, without limitation, the required date of submission for the form; and

(b)

Filed by electronic means.

6.

The Commissioner may adopt regulations requiring each domestic, foreign and alien insurer which is authorized to transact insurance in this state to file the insurer’s annual statement with the National Association of Insurance Commissioners or its successor organization.

7.

Except as otherwise provided in NRS 239.0115, all work papers, documents and materials prepared pursuant to this section by or on behalf of the Division are confidential and must not be disclosed by the Division.

8.

To the extent that the Annual Statement Instructions referenced in subparagraph (1) of paragraph (b) of subsection 1 or the instructions for the preparation of quarterly statements referenced in paragraph (a) of subsection 5 require the disclosure of compensation paid to or on behalf of an insurer’s officers, directors or employees, the information may be filed with the Commissioner and the National Association of Insurance Commissioners as exhibits separate from the annual and quarterly statements required by this section. Except as otherwise provided in NRS 239.0115, the compensation information described in this subsection is confidential and must not be disclosed by the Division.

Source: Section 680A.270 — Filing of annual statement and payment of fee by authorized insurers; statement of alien insurer; filing of quarterly statement by domestic insurer; regulations; confidentiality of certain information., https://www.­leg.­state.­nv.­us/NRS/NRS-680A.­html#NRS680ASec270.

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.270’s source at nv​.us