NRS 694C.050
“Association captive insurer” defined.

“Association captive insurer” means a captive insurer that only insures risks of the member organizations of an association and the affiliated companies of those members if:

1.

The association or the member organizations of the association:

(a)

Have complete control over the power to vote all the outstanding voting securities of the association captive insurer, if the association captive insurer is incorporated as a stock insurer; or

(b)

Have complete voting control over the captive insurer, if the captive insurer is formed as a mutual insurer; and

2.

The member organizations of the association collectively constitute all the subscribers of the captive insurer, if the captive insurer is formed as a reciprocal insurer.

Source: Section 694C.050 — “Association captive insurer” defined., https://www.­leg.­state.­nv.­us/NRS/NRS-694C.­html#NRS694CSec050.

Last Updated

Jun. 24, 2021

§ 694C.050’s source at nv​.us