Applicability of provisions governing domestic insurers; qualification for certificate of authority.

1. To the extent applicable and not inconsistent with federal law: (a) The provisions of chapter 680A of NRS that govern domestic insurers, their business, capital and surplus requirements and the requirements for eligibility for a certificate of authority govern multiple employer welfare arrangements; and (b) A multiple employer welfare arrangement must comply with the criteria set forth in this chapter and chapter 680A of NRS to qualify for a certificate of authority. 2. As used in this section, “multiple employer welfare arrangement” has the meaning ascribed to in 29 U.S.C. § 1002(40)(A).