694C.143 - “Sponsor” defined. - Nevada Statutes

694C.143  “Sponsor” defined.  “Sponsor” means an insurer licensed pursuant to the laws of any state, a reinsurer authorized or approved under the laws of any state, or a captive insurer formed or licensed pursuant to this chapter that:

      1.  Meets the requirements of subsection 3 of NRS 694C.180; and

      2.  Is approved by the Commissioner to provide all or part of the capital and surplus required by applicable law and to organize and operate a sponsored captive insurer.

      (Added to NRS by 2005, 2148)