NRS 686B.280
Conversion into domestic stock insurer: Filing and contents of notice of intent to qualify.

1.

An essential insurance association shall, whenever requested to do so by the Commissioner, file a notice of intent to qualify as a domestic stock insurer. In the absence of a request by the Commissioner, an essential insurance association may file such a notice whenever it considers it appropriate.

2.

The notice must be filed with the Commissioner at least 4 months before the date the association is to become a domestic stock insurer and must contain:

(a)

An application prepared pursuant to chapter 680A of NRS for a certificate of authority to transact business in Nevada as a domestic stock insurer;

(b)

A valuation of capital and surplus according to both market and amortized value based on the association’s annual financial statement for the previous year;

(c)

The value and number of shares of stock to which each insured is entitled; and

(d)

The terms of any proposal offering money or its equivalent in lieu of issuing fractional shares.

Source: Section 686B.280 — Conversion into domestic stock insurer: Filing and contents of notice of intent to qualify., https://www.­leg.­state.­nv.­us/NRS/NRS-686B.­html#NRS686BSec280.

Last Updated

Jun. 24, 2021

§ 686B.280’s source at nv​.us