Conversion into domestic mutual insurer or domestic reciprocal insurer: Notice to insurers and insured; hearing; compliance with certain provisions for qualification.

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)