No person prohibited by law or by the charter of a domestic organization from serving as a member of its board shall be eligible to serve as an acting director except that no person shall be disqualified to serve as an acting director by reason of not being a stockholder, policyholder or member of such organization, by reason of not being a resident of this state or of a contiguous state, or by reason of the number of the directors or acting directors who are officers, acting officers or employees of the organization. Any person may serve as an acting director of a fund who is a director, acting director, officer or acting officer of an organization which is party to the agreement creating the fund. No oath of acting directors shall be required.

Terms Used In Nevada Revised Statutes 693B.080

  • Acting Director: means an acting Director elected or appointed in accordance with this chapter. See Nevada Revised Statutes 693B.010
  • Acting officer: means an acting officer appointed in accordance with this chapter. See Nevada Revised Statutes 693B.010
  • Board: means the board of directors, board of trustees, committee or similar body having control of the affairs of an organization. See Nevada Revised Statutes 693B.010
  • Charter: means the certificate of organization or incorporation of an organization together with its bylaws, or the agreement establishing a fund or association together with its constitution and bylaws. See Nevada Revised Statutes 693B.010
  • Director: means a director, trustee or member of a board. See Nevada Revised Statutes 693B.010
  • Domestic organization: means any organization which is domiciled in this state, including, insofar as the provisions of this chapter may appropriately apply thereto, any welfare or pension fund or United States branch of an alien insurer. See Nevada Revised Statutes 693B.010
  • Oath: A promise to tell the truth.
  • Officer: means an officer of a domestic organization. See Nevada Revised Statutes 693B.010
  • Organization: means any insurer, rating organization, service or advisory organization, joint underwriting association or other organization which is subject, in whole or in part, to the insurance laws of this state. See Nevada Revised Statutes 693B.010
  • 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
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