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2011 Nevada Revised Statutes
Chapter 685A - Nonadmitted Insurance
NRS 685A.034 - Home state defined.

Universal Citation:
NV Rev Stat ยง 685A.034 (2011)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

Home state means:

1. For an insured:

(a) The state in which the insured maintains its principal place of business or, in the case of an individual, the individual s principal residence; or

(b) If 100 percent of the insured risk is located outside of the state determined pursuant to paragraph (a), the state to which the greatest percentage of the insured s taxable premium for that insurance contract is allocated.

2. If more than one insured from an affiliated group is a named insured on a single nonadmitted insurance contract, the state determined pursuant to paragraph (a) of subsection 1 for the member of the affiliated group that has the largest percentage of premium attributed to it under the nonadmitted insurance contract.

3. For a policy of group insurance:

(a) If the group policyholder pays 100 percent of the premium from its own funds, the state determined pursuant to paragraph (a) of subsection 1 for the group policyholder.

(b) If the group policyholder does not pay 100 percent of the premium from its own funds, the state determined pursuant to paragraph (a) of subsection 1 for the group member.

(Added to NRS by 2011, 2010)

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