NRS686B.360. Conversion into domestic mutual insurer or domestic reciprocal insurer: Notice to insurers and insured; hearing.

      1.  At the time the association files a notice of intent to qualify as a domestic mutual insurer or domestic reciprocal insurer, it must give a notice of intent to all participating insurers and all insureds on a form approved by the Commissioner.

      2.  Any participating insurer or insured may, within 30 days after the date of the notice, apply to the Division for a hearing concerning the association’s ability to qualify as a domestic mutual insurer or domestic reciprocal insurer.

      3.  An association must comply with the provisions of:

      (a) Chapter 692B of NRS, as applicable to mutual insurers, to qualify as a domestic mutual insurer; or

      (b) Chapter 694B of NRS, as applicable to reciprocal insurers, to qualify as a domestic reciprocal insurer.

      (Added to NRS by 2003, 3304)