Nev. Rev. Stat. § 694C.050
“Association captive insurer” defined
Nevada · Nevada Revised Statutes Chapter 694C — Captive Insurers · Status: effective
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- Nev. Rev. Stat. § 694C.050, “Association captive insurer” defined, Nevada, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2149518
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“Association captive insurer” means a captive insurer that only insures risks of the member organizations of an association and the affiliated companies of those members if:
1. The association or the member organizations of the association:
(a) Have complete control over the power to vote all the outstanding voting securities of the association captive insurer, if the association captive insurer is incorporated as a stock insurer; or
(b) Have complete voting control over the captive insurer, if the captive insurer is formed as a mutual insurer; and
2. The member organizations of the association collectively constitute all the subscribers of the captive insurer, if the captive insurer is formed as a reciprocal insurer.