Section 681B.565 - Filing of plan for risk-based capital under certain circumstances; failure to file1. The Commissioner may require a foreign insurer reign insurer or health organization to file a plan for risk-based capital with the Commissioner if an event that requires company action, regulatory action or authorized control occurs to the foreign insurer or health organization: (a) As determined pursuant to the laws of the state in which the foreign insurer e foreign insurer or health organization is domiciled if: (1) That state has enacted laws that provide for the filing of a plan for risk-based capital if such an event occurs; and(2) The Insurance Commissioner or chief regulatory officer for insurance of that state fails to require the insurer or health organization to file a plan for risk-based capital in the manner required by those laws; or(b) As determined pursuant to NAC 681B.400 to 681B.595, inclusive and sections 2, 3 and 4, if the state in which the foreign insurer insurer or health organization is domiciled has not enacted any provisions that provide for the determination of such an event or require the filing of a plan for risk-based capital if such an event occurs.2. Failure by a foreign insurer or health organization to file a plan for risk-based capital as required pursuant to this section is a sufficient ground for the Commissioner to order the foreign insurer or health organization to cease and desist from writing new business in this State.Nev. Admin. Code § 681B.565
Added to NAC by Comm'r of Insurance by R088-97, eff. 3-19-98; A by R132-13, eff. 10/1/2014