Nevada Revised Statutes 681A.430 – License to act as intermediary
1. The Commissioner may issue a license to act as an intermediary to any person who has complied with the requirements of NRS 681A.250 to 681A.580, inclusive, and who submits a written application for a license to act as an intermediary, the appropriate fee set forth in NRS 680B.010 and, in addition to any other fee or charge, all applicable fees required pursuant to NRS 680C.110. A license issued to a firm or association authorizes all the members of the firm or association and any designated employees to act as intermediaries. All those persons must be named in the application and any supplements thereto. A license issued to a corporation authorizes all of the officers and any designated employees and directors of the corporation to act as intermediaries on behalf of the corporation. All those persons must be named in the application and in any supplements thereto.
Terms Used In Nevada Revised Statutes 681A.430
- 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.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
- Service of process: The service of writs or summonses to the appropriate party.
2. If an applicant for a license to act as an intermediary is a nonresident, the applicant shall:
(a) Designate the Commissioner as agent for service of process;
(b) Furnish the Commissioner with the name and address of a resident of Nevada upon whom notices or orders of the Commissioner or process affecting the nonresident reinsurance intermediary may be served; and
(c) Promptly notify the Commissioner in writing of every change in the applicant’s designated agent for service of process. The change is not effective until acknowledged by the Commissioner.