692B.040 - Solicitation permit required; penalty. - Nevada Statutes

692B.040  Solicitation permit required; penalty.

      1.  A person forming or proposing to form a domestic insurer, or insurance holding corporation thereof, or corporation to be attorney-in-fact for a domestic reciprocal insurer, or proposing to secure funds for the formation or financing of a domestic insurer, or production of insurance business therefor, or for an insurance holding corporation holding or proposing to hold securities of a domestic insurer, or for an attorney-in-fact corporation of a domestic reciprocal insurer, or for the formation or financing of a syndicate, association, firm, partnership or organization for any such purposes, shall not in this state advertise or offer for sale any securities or policies, or solicit or receive any funds, subscriptions, applications, premiums or memberships, except as authorized by a currently effective permit, in this chapter sometimes referred to as a “solicitation permit,” issued by the Commissioner.

      2.  A person who violates the provisions of this section is guilty of a category D felony and shall be punished as provided in NRS 193.130.

      (Added to NRS by 1971, 1783; A 1979, 1492; 1995, 1319)