1.  The Commissioner shall deliver to the Secretary of State a copy of an order of the Commissioner or of the district court prohibiting an insurer from transacting insurance in this state as a corporation, limited-liability company, limited partnership or limited-liability partnership.

Terms Used In Nevada Revised Statutes 679B.142

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.

2.  Upon receiving the order, the Secretary of State shall nullify the charter of the corporation or limited-liability company or the certificate of the limited partnership or limited-liability partnership.

3.  The Secretary of State shall not accept for filing a document with the same name as a corporation, limited-liability company, limited partnership or limited-liability partnership whose charter or certificate has been nullified.

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