NRS 686B.360 Conversion into domestic mutual insurer or domestic reciprocal insurer: Notice to insurers and insured; hearing; compliance with certain provisions for qualification.
148 words·~1 min read·
/nv/chapter-686b-rates-and-essential-insurance/686b-360·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
NRS 686B.360 Conversion into domestic mutual insurer or domestic reciprocal insurer: Notice to insurers and insured; hearing; compliance with certain provisions for qualification.
1. At the time the association files a notice of intent to qualify as a domestic mutual insurer or domestic reciprocal insurer, it must give a notice of intent to all participating insurers and all insureds on a form approved by the Commissioner.
2. Any participating insurer or insured may, within 30 days after the date of the notice, apply to the Division for a hearing concerning the association’s ability to qualify as a domestic mutual insurer or domestic reciprocal insurer.
3. An association must comply with the provisions of:
(a)Chapter 692B of NRS, as applicable to mutual insurers, to qualify as a domestic mutual insurer; or
(b)Chapter 694B of NRS, as applicable to reciprocal insurers, to qualify as a domestic reciprocal insurer.