Nevada Administrative Code
Chapter 693A - Corporate Powers and Procedures of Domestic Stock and Mutual Insurers
MANAGEMENT AND AGENCY CONTRACTS OF CONTROLLED INSURERS
Section 693A.630 - "Captive insurer" defined
Universal Citation: NV Admin Code 693A.630
Current through December 12, 2024
"Captive insurer" means an insurance company which is owned by:
1. A parent organization and whose exclusive purpose is to insure risks of the parent organization and any affiliated companies of the parent organization; or
2. More than one insured and whose exclusive purpose is to insure risks of the insureds and members of the insureds, if any, and any affiliates of the insureds or the members of the insureds.
Added to NAC by Comm'r of Insurance, eff. 6-28-96
NRS 679B.130, 693A.110
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