Failure to Timely Pay Annual Continuation Fee, File Annual Statement, Or Pay Premium Taxes - NRS 680A.180

BRIAN SANDOVAL Governor STATE OF NEVADA BRUCE H. BRESLOW Director [LOGO] BARBARA D. RICHARDSON Commissioner # DEPARTMENT OF BUSINESS AND INDUSTRY # DIVISION OF INSURANCE 1818 East College Pkwy., Suite 103 Carson City, Nevada 89706 (775) 687-0700 • Fax (775) 687-0787 Website: doi.nv.gov E-mail: insinfo@doi.nv.gov Bulletin 16-004 August 22, 2016 ## FAILURE TO TIMELY PAY ANNUAL CONTINUATION FEE, FILE ANNUAL STATEMENT, OR PAY PREMIUM TAXES – NRS 680A.180 Pursuant to Nevada law,¹ for an insurer's certificate of authority to continue in force, an insurer must, (1) pay an annual continuation fee by March 1st of each year, as well as pay all administration and enforcement fees and any other charges and fees by their respective due dates; (2) file its annual statement for the next preceding calendar year; and (3) pay, if required, the premium taxes for the preceding calendar year. NRS 680A.180.1. If an insurer fails to comply with the requirements of NRS 680A.180.1, the insurer's certificate of authority expires at midnight on the next following May 31st. NRS 680A.180.2. Prior to the expiration, the Division shall notify the insurer of the occurrence of any failure resulting in the impending expiration. NRS 680A.180.2. This Bulletin is intended to notify insurers that a failure to meet the requirements of NRS 680A.180.1 results in a certificate of authority's expiration by operation of law. The Division will provide notice of the failure(s) to the insurer prior to the expiration taking effect. Expiration of the certificate of authority does not relieve the insurer from its obligations under the insurance contract. NRS 685B.030.5. Within three months after the expiration date, an insurer may request that its certificate of authority be reinstated. In order for the Division to process the reinstatement, before the three-month period ends, the insurer must make a request for reinstatement in writing and, along with the request, the insurer must cure the failure(s) that led to the expiration and pay the reinstatement fee. NRS 680A.180.3. This Bulletin applies to all insurers issued a certificate of authority pursuant to NRS 680A.060–.095 to operate in Nevada. These provisions, including, but not limited to, the expiration of certificates of authority, do not preclude the Division from imposing a late fee or any other administrative action otherwise authorized by Nevada law. NRS 679A.190. Barbara D. Richardson Commissioner of Insurance ¹ Nevada Revised Statutes are available online at http://www.leg.state.nv.us/Nrs/.