, may, if otherwise qualified therefor, continue to be so authorized while possessing the amount of paid-in capital stock, if a stock insurer, or surplus, if a mutual insurer, required by the laws of this state for such authority immediately before January 1, 1992, for a period not to exceed 2 years. On or before January 1, 1994, the insurer shall meet the requirements of subsection 1. The Commissioner shall not grant such an insurer authority to transact any other or additional kinds of insurance unless it then fully complies with the requirements as to capital and surplus, as applied to all kinds of insurance which it then proposes to transact, as provided by this section for like foreign insurers applying for original certificates of authority pursuant to this Code. 3. Capital and surplus requirements are based upon all the kinds of insurance transacted by the insurer in any and all areas in which it operates or proposes to operate, whether or not only a portion of such kinds are to be transacted in this state. 4. As to surplus required for qualification to transact one or more kinds of insurance and thereafter to be maintained, domestic mutual insurers are governed by chapter 693A of NRS and domestic reciprocal insurers are governed by chapter 694B of NRS. 5. An insurer who transacts financial guaranty insurance in this state must transact only one kind of insurance and possess and maintain the minimum capital and surplus requirements pursuant to subsection 1. (Added to NRS by 1971, 1579; A 1991, 2026) NRS 680A.130 Combinations of insurance for which additional capital not required. Without additional capital or additional surplus, an authorized insurer is also authorized: 1. If a life insurer, to grant annuities. 2. If a health insurer, to insure against congenital defects, as defined in NRS 681A.020. (Added to NRS by 1971, 1581) NRS 680A.140 Required deposit; deposit in other state. 1. The Commissioner shall not authorize an insurer to transact insurance in this state, other than an alien insurer or a title insurer, unless it makes and thereafter continuously maintains on deposit in this state, through the Commissioner, cash or securities eligible for such deposit under the laws of this state of a fair market value not less than its minimum required capital stock (if a stock insurer) or minimum required basic surplus (if a mutual or reciprocal insurer), for the protection of the insurer’s policyholders or of its policyholders and creditors in the United States of America. The Commissioner may adopt regulations which allow the use of securities as a deposit without delivery of the securities to the Commissioner. 2. The Commissioner shall not so authorize a title insurer unless it so deposits and maintains such cash or securities of fair market value not less than its minimum required capital stock as a guaranty fund for the security and protection of the holders of, or beneficiaries under, the title insurance contracts issued by the insurer. 3. The Commissioner shall not so authorize an alien insurer unless it so makes and thereafter continuously maintains such a deposit, representing money in excess of all the insurer’s liabilities under insurance contracts in force in the United States of America, of a fair market value of not less than that required under subsection 1, as to a like foreign insurer. The deposit must be held in trust for the protection of all the insurer’s policyholders, or policyholders and creditors, in the United States of America. 4. In lieu of such a deposit made or maintained in this state, the Commissioner shall accept the certificate in proper form of the public officer having general supervision of insurers in any other state to the effect that a deposit of like quality and amount, or part thereof, by an insurer is being maintained for like purposes in public custody or control pursuant to the laws of that state, if the Commissioner is satisfied as to the like quality and amount of the deposit. 5. All such deposits in this state are subject to the applicable provisions of chapter 682B of NRS. (Added to NRS by 1971, 1581; A 1985, 607) NRS 680A.150 Application for certificate of authority. To apply for an original certificate of authority an insurer shall file with the Commissioner its written application therefor on forms as prescribed and furnished by the Commissioner, accompanied by the applicable fees specified in NRS 680B.010, stating under the oath of the president or vice president or other chief officer and the secretary of the insurer, or of the attorney-in-fact if a reciprocal insurer, the insurer’s name, location of its home office, or principal office in the United States if an alien insurer, the kinds of insurance to be transacted, date of organization or incorporation, form of organization, state or country of domicile, and such additional information as the Commissioner may reasonably require, together with the following documents, as applicable: 1. If a corporation, a copy of its charter or certificate or articles of incorporation, together with all amendments thereto, or as restated and amended under the laws of its state or country of domicile, currently certified by the public officer with whom the originals are on file in that state or country. 2. If a domestic incorporated insurer or a mutual insurer, a copy of its bylaws, certified by the insurer’s corporate secretary. 3. If a reciprocal insurer, a copy of the power of attorney of its attorney-in-fact, certified by the attorney-in-fact; and if a domestic reciprocal insurer, the declaration provided for in NRS 694B.060. 4. A complete copy of its financial statement as of not earlier than the December 31 next preceding in form as customarily used in the United States by like insurers, sworn to by at least two executive officers of the insurer or certified by the public insurance supervisory officer of the insurer’s state of domicile, or of entry into the United States if an alien insurer. 5. A copy of the report of last examination made of the insurer within not more than 5 years next preceding, certified by the public insurance supervisory officer of the insurer’s state of domicile, or of entry into the United States if an alien insurer. 6. The appointment of the Commissioner pursuant to NRS 680A.250 as its attorney to receive service of legal process. 7. If a foreign or alien insurer, a certificate of the public insurance supervisory officer of its state or country of domicile showing that it is authorized or qualified for authority to transact in such state or country the kinds of insurance proposed to be transacted in this state. 8. If a foreign insurer, a certificate as to a deposit if it is to be tendered pursuant to NRS 680A.140. 9. A copy of the insurer’s rate book and of each form of policy currently proposed to be issued in this state, and of the form of application therefor. 10. If an alien insurer, a copy of the appointment and authority of its United States manager, certified by its officer having custody of its records. 11. Designation by the insurer of its officer or representative authorized to appoint and remove its agents in this state. (Added to NRS by 1971, 1581; A 1989, 2175; 1995, 1753) NRS 680A.155 Payment of taxes and penalties by certain applicants. An insurer which has transacted insurance in this state without a certificate of authority must not be granted a certificate of authority unless it pays the tax imposed by NRS 680B.027 and the penalties provided by NRS 685B.190 for the 5 years immediately preceding the date upon which it applies for a certificate of authority. (Added to NRS by 1985, 606; A 1995, 1612) NRS 680A.160 Issuance or refusal of certificate; contents and ownership of certificate. 1. If upon completion of its application the Commissioner finds that the insurer has met the requiremen

Vegas Law