ce that protects a policyholder from liability arising out of the ownership, maintenance or use of a motor vehicle must demonstrate to the satisfaction of the Department of Motor Vehicles that the insurer is able to comply with the provisions of NRS 485.314. (Added to NRS by 1971, 1577; A 1997, 1086; 2001, 2634) NRS 680A.090 Eligibility for certificate of authority: Ownership; management. 1. No foreign insurer which is directly or indirectly owned or controlled in whole or substantial part by any government or governmental agency shall be authorized to transact insurance in Nevada. Membership in a mutual insurer, or subscribership in a reciprocal insurer, or ownership of stock of an insurer by the Alien Property Custodian or similar officer of the United States of America, or ownership of stock or other security which does not have voting rights with respect to the management of the insurer, or supervision of an insurer by public authority, shall not be deemed to be an ownership or control of the insurer for the purposes of this subsection. 2. The Commissioner shall not grant or continue authority to transact insurance in this state to any insurer or proposed insurer: (a) Of which any director, officer or other individual materially part of the management is found by him after investigation or upon reliable information to be incompetent, or dishonest, or untrustworthy, or of unfavorable business repute; (b) Of which the managers are so lacking in insurance company managerial experience in operations of the kind proposed in this state as to make such operation, currently or prospectively, hazardous to or contrary to the best interests of the insurance-buying or investing public of this state; (c) Which he has good reason to believe is affiliated directly or indirectly through ownership, control, management, reinsurance transactions or other business relations with any person or persons of unfavorable business repute; or (d) Whose business operations are or have been marked, to the injury of insurers, stockholders, policyholders, creditors or the public, by illegality, or by manipulation of assets, or of accounts, or of reinsurance, or by bad faith. (Added to NRS by 1971, 1578) NRS 680A.095 Certificate of authority required to transact reinsurance; eligibility for certificate; exceptions. 1. Except as otherwise provided in subsection 3, an insurer which is not authorized to transact insurance in this State may not transact reinsurance with a domestic insurer in this State, by mail or otherwise, unless he holds a certificate of authority as a reinsurer in accordance with the provisions of NRS 680A.010 to 680A.150, inclusive, 680A.160 to 680A.290, inclusive, 680A.320 and 680A.330. 2. To qualify for authority only to transact reinsurance, an insurer must meet the same requirements for capital and surplus as are imposed on an insurer which is authorized to transact insurance in this State. 3. This section does not apply to the joint reinsurance of title insurance risks or to reciprocal insurance authorized pursuant to chapter 694B of NRS. (Added to NRS by 1987, 642) NRS 680A.100 Name of insurer. 1. No insurer shall be formed or authorized to transact insurance in this state which has or uses a name which is the same as or deceptively similar to that of another insurer already so authorized, without the written consent of such other insurer. 2. No life insurer shall be so authorized which has or uses a name deceptively similar to that of another insurer, other than a predecessor in interest, authorized to transact insurance in this state within the preceding 10 years if life insurance policies originally issued by such other insurer are still outstanding in this state. 3. No insurer shall be formed or authorized to transact insurance which has or uses a name the same as or deceptively similar to that of any foreign insurer not so authorized if such foreign insurer has within the next preceding 12 months signified its intention to secure an incorporation in this state under such name, or to do business as a foreign insurer in this state under such name, by filing notice of such intention with the Commissioner, unless the written consent to the use of such name or deceptively similar name has been given by such foreign insurer. 4. No insurer shall be so authorized which has or uses a name which tends to deceive or mislead as to the type of organization of the insurer. 5. In case of conflict of names between two insurers, or a conflict otherwise prohibited under this section, the Commissioner may permit (or shall require as a condition to the issuance of an original certificate of authority to an applicant insurer) the insurer to use in this state such supplementation or modification of its name or such business name as may reasonably be necessary to avoid the conflict. 6. Except as provided in subsection 5, an insurer shall conduct its business in this state in its own corporate (if incorporated) or proper (if a reciprocal insurer) name. (Added to NRS by 1971, 1579) NRS 680A.110 Combinations of insuring powers. An insurer which otherwise qualifies therefor may be authorized to transact any one kind or any combination of kinds of insurance as defined in NRS 681A.010 to 681A.080, inclusive (kinds of insurance), except: 1. A life insurer may grant annuities and may be authorized to transact in addition only health insurance; but the Commissioner may, if the insurer otherwise qualifies therefor, continue so to authorize any life insurer which immediately prior to January 1, 1972, was lawfully authorized to transact in this state a kind or kinds of insurance in addition to life and health insurances and annuity business. 2. A reciprocal insurer shall not transact life insurance. (Added to NRS by 1971, 1579) NRS 680A.120 Required capital. 1. Except as provided in subsections 2 and 5, to qualify for authority to transact any one kind of insurance as defined in NRS 681A.010 to 681A.080, inclusive, or combinations of kinds of insurance as shown below, an insurer shall possess and thereafter maintain unimpaired paid-in capital stock, if a stock insurer, or unimpaired basic surplus, if a mutual or a reciprocal insurer, and free surplus not less than 100 percent of the minimum required capital stock or minimum required basic surplus, and when first so authorized shall possess initial free surplus, all in amounts not less than as determined from the following table: FOREIGN MUTUAL RECIPROCAL STOCK INSURERS INSURERS INSURERS Minimum Minimum Minimum Kind or Required Initial Required Initial Required Initial Kinds of Capital Free Basic Free Basic Free Insurance Stock Surplus Surplus Surplus Surplus Surplus Life........................ 500,000 1,000,000 500,000 1,000,000 N/A N/A Health, Property, Casualty, Surety, Marine & Transportation Multiple line...................... 500,000 1,000,000 500,000 1,000,000 500,000 1,000,000 Title...................... 500,000 750,000 N/A N/A N/A N/A Financial Guarantee......... 10,000,000 40,000,000 N/A N/A N/A N/A 2. At the discretion of the Commissioner, a domestic insurer holding a valid certificate of authority to transact insurance in this state immediately prior to January 1, 1992

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