2022 Nevada Revised Statutes
Chapter 695E - Liability Risk Retention
NRS 695E.140 - Requirements.
1. A risk retention group seeking to be chartered in this State must obtain a certificate of authority pursuant to chapter 694C of NRS to transact liability insurance and, except as otherwise provided in this chapter, must comply with:
(a) All of the laws, regulations and requirements applicable to liability insurers in this State, unless otherwise approved by the Commissioner; and
(b) The provisions of NRS 695E.150 to 695E.210, inclusive, to the extent that those provisions do not limit or conflict with the provisions with which the group is required to comply pursuant to paragraph (a).
2. A risk retention group applying to be chartered in this State must submit to the Commissioner an application for licensure as an association captive insurer in accordance with NRS 694C.210.
3. A risk retention group chartered in a state other than Nevada that is seeking to transact insurance as a risk retention group in this State must comply with the provisions of NRS 694C.390 and 695E.150 to 695E.210, inclusive, including, without limitation, by submitting the statement of registration required by paragraph (a) of subsection 1 of NRS 695E.150 and paying all fees required for the statement of registration.
(Added to NRS by 1987, 1330; A 1995, 1782; 2005, 2158; 2013, 3375; 2015, 3508; 2021, 2995)
