Title 57

NRS 694C.300 Authorized and prohibited types of insurance. 1. Except as otherwise provided in this section, a captive insurer licensed pursuant to this chapter may transact any form of insurance described in NRS 681A.020 to 681A.080, inclusive. 2. A captive insurer licensed pursu…

NRS 694C.310 Meetings of board of directors; additional requirements to transact insurance; review by Commissioner of qualifications of manager. 1. The board of directors of a captive insurer shall meet at least once each year in this State. The captive insurer shall: (a) Maintai…

NRS 694C.320 Plan for payment of dividends; regulations. The Commissioner may approve an ongoing plan for the payment of dividends or other distributions by a captive insurer if, at the time of each payment or distribution, the retention of capital by the captive insurer is in ex…

NRS 694C.330 Payment of dividends and extraordinary dividends. 1. Except as otherwise provided in this section, a captive insurer shall pay dividends out of, or make any other distributions from, its capital or surplus, or both, in accordance with the provisions set forth in NRS …

NRS 694C.340 Compliance with requirements relating to investments; loan to parent or affiliated company by pure captive insurer in certain circumstances. 1. Except as otherwise provided in this section and NRS 694C.382, an association captive insurer, an agency captive insurer, a…

NRS 694C.350 Reinsurance; credit for reserves on risks or portions of risks in certain circumstances; plan for workers’ compensation deemed reinsurance in certain circumstances. 1. A captive insurer may provide reinsurance on risks ceded by any other insurer. 2. A captive insurer…

NRS 694C.360 Use of insurance of captive insurer to satisfy requirements relating to insurance on vehicles subject to Nevada Transportation Authority or Taxicab Authority prohibited; exception. Insurance provided by a captive insurer in accordance with this chapter may not be use…

NRS 694C.370 Insurer not required to join rating organization. A captive insurer is not required to join a rating organization. (Added to NRS by 1999, 3215)

NRS 694C.380 Insurer prohibited from joining or contributing to or receiving benefit for claims from assigned risk pool or insurance insolvency guaranty fund. A captive insurer shall not join or contribute financially to an assigned risk pool or insurance insolvency guaranty fund…

NRS 694C.382 Combining assets for investment. Notwithstanding the provisions of this chapter, the assets of two or more protected cells may be combined for the purpose of investment, and such combination must not be construed as defeating the separation of the assets for accounti…

NRS 694C.384 Security for branch operations. 1. As security for the payment of liabilities attributable to the branch operations of a branch captive insurer, the Commissioner shall require that a trust fund, funded by an irrevocable letter of credit or other acceptable asset, be …

NRS 694C.386 Alien captive insurer: Issuance of certificate related to branch operations; registration. An alien captive insurer licensed as a branch captive insurer shall petition the Commissioner to issue a certificate setting forth the finding of the Commissioner that, after c…

NRS 694C.388 Alien captive insurer: Reports and statements. Before June 30 of each year or, if approved by the Commissioner, not more than 60 days after the expiration of the fiscal year of the branch captive insurer, the branch captive insurer shall file with the Commissioner a …

NRS 694C.389 State-chartered risk retention group: Compliance with laws and requirements applicable to liability insurers. A state-chartered risk retention group must comply with all of the laws, regulations and requirements applicable to liability insurers in this State, unless …

NRS 694C.390 State-chartered risk retention group: Required filings. 1. In addition to the information required pursuant to NRS 694C.210, a state-chartered risk retention group must submit to the Commissioner in summary form: (a) The identities of: (1) All members of the group; (…

NRS 694C.392 State-chartered risk retention group: Board of directors; material service provider contracts; audit committee; written policies, governance standards and code of business conduct; duty to notify domestic regulator of material noncompliance. 1. The board of directors…

NRS 694C.400 Submission of annual report of financial condition, audit and financial statement to Commissioner; regulations designating form; alternative date to file annual report; penalties for failing to comply or making false statement. 1. On or before June 30 of each year, a…

NRS 694C.410 Examinations: Conducted by Commissioner; frequency; Commissioner authorized to obtain professional services; cost. 1. Except as otherwise provided in this section, at least once every 3 years, and at such other times as the Commissioner determines necessary, the Comm…

NRS 694C.415 Examinations: Branch captive insurer; alien captive insurer. 1. The examination of a branch captive insurer pursuant to NRS 694C.410 must be of branch business and branch operations only, so long as the branch captive insurer provides to the Commissioner on an annual…

NRS 694C.450 Taxes on premiums: Imposition; deposit; nonrefundable credit. 1. Except as otherwise provided in this section, a captive insurer shall pay to the Division, not later than March 1 of each year, a tax at the rate of: (a) Two-fifths of 1 percent on the first $20,000,000…

NRS 694C.455 Tax on premiums: Applicable only to branch business of branch captive insurer. The tax required pursuant to NRS 694C.450 applies only to the branch business of the branch captive insurer. (Added to NRS by 2005, 2151)

NRS 694C.460 Fees and assessments received by the Commissioner to be credited to the Fund for Insurance Administration and Enforcement. Except as otherwise provided in NRS 694C.450, all fees and assessments received by the Commissioner or Division pursuant to this chapter must be…

NRS 695A.001 Definitions. As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 695A.003 to 695A.044, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 1991, 221; A 1995, 2432)

NRS 695A.003 “Benefit contract” defined. “Benefit contract” means an agreement for the provision of any contractual benefit authorized by NRS 695A.180. (Added to NRS by 1991, 221)

NRS 695A.004 “Benefit member” defined. “Benefit member” means a member of a society who is an adult and who is designated by the laws or rules of the society to be a benefit member under a benefit contract. (Added to NRS by 1991, 221)

NRS 695A.006 “Certificate” defined. “Certificate” means the document issued as written evidence of the benefit contract. (Added to NRS by 1991, 221)

NRS 695A.010 “Fraternal benefit society” defined. “Fraternal benefit society” means any incorporated society, order or supreme lodge, without capital stock, including one exempted under the provisions of paragraph (b) of subsection 1 of NRS 695A.570 whether incorporated or not, w…

NRS 695A.014 “Insurer” defined. “Insurer” includes every person engaged as principal and as indemnitor, surety or contractor in the business of entering into contracts of insurance. (Added to NRS by 1991, 221)

NRS 695A.016 “Laws” defined. “Laws” means the articles of incorporation, charter, constitution and bylaws of the society. (Added to NRS by 1991, 221)

NRS 695A.018 “Lodge” defined. “Lodge” means a subordinate unit of a society, and includes a camp, court, council, branch or any similar entity by whatever name designated. (Added to NRS by 1991, 221)

NRS 695A.020 “Lodge system” defined. “Lodge system” means the system under which a society is operating if: 1. The society has a supreme governing body and subordinate lodges into which members are elected, initiated or admitted in accordance with its laws, ritual and rules; and …

NRS 695A.023 “Medicaid” defined. “Medicaid” means a program established in any state pursuant to Title XIX of the Social Security Act (42 U.S.C. §§ 1396 et seq.) to provide assistance for part or all of the cost of medical care rendered on behalf of indigent persons. (Added to NR…

NRS 695A.027 “Order for medical coverage” defined. “Order for medical coverage” means an order of a court or administrative tribunal to provide coverage under a certificate for health benefits to a child pursuant to the provisions of 42 U.S.C. § 1396g-1. (Added to NRS by 1995, 24…

NRS 695A.030 “Premiums” defined. “Premiums” means premiums, rates, dues or other required contributions by whatever name known, which are payable under the certificate. (Added to NRS by 1971, 1835; A 1991, 223)

NRS 695A.040 “Representative form of government” defined. “Representative form of government” means that form of government which a society has when: 1. It has a supreme governing body which is: (a) An assembly composed of delegates elected either directly by the members of the s…

NRS 695A.042 “Rules” defined. “Rules” includes all rules, regulations and resolutions adopted by the supreme governing body or board of directors of a society and which generally apply to the members of the society. (Added to NRS by 1991, 221)

NRS 695A.044 “Society” defined. “Society” means a fraternal benefit society. (Added to NRS by 1991, 221)

NRS 695A.050 Organization: Preparation and contents of articles of incorporation. Ten or more citizens of the United States, a majority of whom are citizens of this state, who desire to form a fraternal benefit society, may make, sign and acknowledge before some person competent …

NRS 695A.060 Organization: Filing of documents and bond with Commissioner; preliminary certificate of authority. 1. Duly certified copies of the laws and rules of the society, copies of all proposed forms of certificates, applications therefor, circulars to be issued by the socie…

NRS 695A.070 Organization: Solicitation of members; collection of advance premiums; reports to Commissioner. 1. Upon receipt of a preliminary certificate of authority from the Commissioner, the society: (a) May solicit members for the purpose of completing its organization; (b) S…

NRS 695A.080 Certificate of authority: Issuance and renewal; effect; record; copies; fees. 1. The Commissioner may make such examination and require such further information as the Commissioner deems advisable. Upon presentation of satisfactory evidence that the society has compl…

NRS 695A.090 General powers and duties of society. A society shall operate for the benefit of its members and their beneficiaries by providing benefits as specified in NRS 695A.180 and may: 1. Operate for any lawful social, intellectual, educational, charitable, benevolent, moral…

NRS 695A.095 Contracts between society and provider of health care: Prohibiting society from charging provider of health care fee for inclusion on list of providers given to insureds; society required to use form to obtain information on provider of health care; modification; sub…

NRS 695A.110 Unincorporated or voluntary association prohibited from transacting business as society. No unincorporated or voluntary association may transact business in this state as a fraternal benefit society. (Added to NRS by 1971, 1839; A 1991, 227)

NRS 695A.120 Location of principal office; meetings of supreme governing body; minutes of certain proceedings; official publications; grievances by benefit members. 1. The principal office of any domestic society must be located in this state. 2. The meetings of its supreme gover…

NRS 695A.130 Consolidation; merger. 1. A domestic society that wishes to consolidate or merge with any other society must file with the Commissioner: (a) A certified copy of the written contract containing in full the terms and conditions of the consolidation or merger; (b) A swo…