Section 616B.451 - Certificate of authority covering self-insured employer and any subsidiary or affiliated corporation: Procedure; requirements1. A self-insured employer may request that the Commissioner issue one certificate of authority to cover the employer and any subsidiary or affiliated corporation. In reviewing such a request, the Commissioner will apply the standards of NAC 616B.424 to all of the subsidiaries and corporations as if they were a single entity.2. The businesses that wish to be covered by one certificate shall file a statement with the Commissioner that lists the owners of the businesses and the percentage of the businesses held by each owner and that verifies that the operations of each business are controlled by the same owners. The Commissioner may require each business, or the owner of each business, or both, to indemnify the other businesses or owners who will be covered by the certificate and hold them harmless from liability for any claim for compensation filed pursuant to chapters 616A to 617, inclusive, of NRS.3. The Commissioner may issue one certificate to cover a business and one or more subsidiaries or affiliated corporations if: (a) The operations of each business are controlled by the same natural persons or corporation; and(b) An independent auditor determines that there is sufficient similarity in the control of the businesses to present a combined financial statement for all of the businesses that will be covered by the certificate.4. A certificate issued by the Commissioner pursuant to this section will list the names and locations of all the businesses covered by the certificate.5. If the self-insured employer later requests that a new business or a new location be added to the certificate, the Commissioner will review that request in accordance with this section. If approved, a new certificate will be issued to the self-insured employer and list all covered businesses or locations.6. As used in this section, "affiliated corporation" means a corporation that directly or indirectly, through one or more intermediaries, is controlled by, or is under common control with, the self-insured employer.Nev. Admin. Code § 616B.451
Added to NAC by Comm'r of Insurance, eff. 1-4-91; A 3-22-96-Substituted in revision for NAC 616.169; A by R124-20A, eff. 4/14/2021