NRS 681A.420
Limitations and requirements.

1.

A person shall not act as a broker for reinsurance for a domestic insurer or reinsurer unless the person is:

(a)

A licensed producer in this state; or

(b)

Licensed as a nonresident intermediary for reinsurance in this state.

2.

A person shall not act as a broker for reinsurance for a foreign or alien insurer or reinsurer if the person maintains an office, directly or as a member or employee of a firm or association or as an officer, director or employee of a corporation in this state, unless the person is:

(a)

A licensed producer in this state; or

(b)

Licensed as a nonresident intermediary for reinsurance in this state.

3.

A person shall not act as a manager for reinsurance for a domestic insurer or reinsurer unless the person is:

(a)

A licensed producer in this state; or

(b)

Licensed as a nonresident manager for reinsurance in this state.

4.

A person shall not act as a manager for reinsurance for any foreign or alien insurer or reinsurer if the person maintains an office, directly or as a member or employee of a firm or association or as an officer, director or employee of a corporation in this state, unless the person is:

(a)

A licensed producer in this state; or

(b)

Licensed as a nonresident manager for reinsurance in this state.

5.

A manager for reinsurance shall:

(a)

File a bond from an insurer in an amount that is acceptable to the Commissioner for the protection of the reinsurer; and

(b)

Maintain a policy covering errors and omissions in an amount that is acceptable to the Commissioner.

Source: Section 681A.420 — Limitations and requirements., https://www.­leg.­state.­nv.­us/NRS/NRS-681A.­html#NRS681ASec420.

681A.250
Definitions. 681A.260
“Actuary” defined. 681A.270
“Automatic agreement” defined. 681A.280
“Broker for reinsurance” defined. 681A.290
“Cede” defined. 681A.300
“Cession” defined. 681A.310
“Controlling person” defined. 681A.320
“Facultative” defined. 681A.330
“Intermediary” defined. 681A.340
“Licensed producer” defined. 681A.350
“Manager for reinsurance” defined. 681A.360
“Reinsured” defined. 681A.370
“Reinsurer” defined. 681A.380
“Retrocession” defined. 681A.390
“Retrocessionaire” defined. 681A.400
“Syndicate” defined. 681A.410
“Violation” defined. 681A.420
Limitations and requirements. 681A.430
License to act as intermediary. 681A.440
Circumstances under which Commissioner is authorized to refuse to issue license. 681A.450
Licensed attorney acting as intermediary. 681A.460
Brokers: Transactions with insurer 681A.470
Brokers: Maintenance of records of transactions 681A.480
Brokers: Conditions for employment 681A.490
Managers: Transactions with reinsurer 681A.500
Managers: Compliance with certain standards established by insurer 681A.510
Managers: Requirements for settlement of claims 681A.520
Managers: Sharing of interim profits. 681A.530
Managers: Maintenance of records of transactions 681A.540
Managers: Prohibited acts. 681A.550
Managers: Conditions for employment 681A.560
Examination of intermediary by Commissioner. 681A.570
Actions that may be taken against intermediary who fails to comply with laws. 681A.580
Rights of relevant parties not limited or expanded.
Last Updated

Feb. 5, 2021

§ 681A.420’s source at nv​.us