693B.010 - Definitions.
693B.010 Definitions. As used in this chapter, unless the context otherwise requires:
1. “Acting Director” means an acting Director elected or appointed in accordance with this chapter.
2. “Acting officer” means an acting officer appointed in accordance with this chapter.
3. “Acute emergency” means a period in which, by reason of loss of life, epidemic disease, destruction or damage of property, contamination of property by radiological, chemical or bacteriological means, or disruption of the means of transportation and communication, resulting from an attack, it is impossible or impracticable for the business of insurance in this state to be conducted in strict accord with the provisions of law or charters applicable thereto.
4. “Attack” means any attack, actual or imminent, or series of attacks by an enemy or a foreign nation upon the United States of America causing, or which may cause, substantial damage or injury to civilian property or persons in the United States in any manner by sabotage or by the use of bombs, shellfire, or atomic, radiological, chemical, bacteriological or biological means or other weapons or processes.
5. “Board” means the board of directors, board of trustees, committee or similar body having control of the affairs of an organization.
6. “Charter” means the certificate of organization or incorporation of an organization together with its bylaws, or the agreement establishing a fund or association together with its constitution and bylaws.
7. “Commissioner” means the Commissioner of Insurance or other person designated to exercise the powers of that office during an acute emergency.
8. “Director” means a director, trustee or member of a board.
9. “Domestic organization” means any organization which is domiciled in this state, including, insofar as the provisions of this chapter may appropriately apply thereto, any welfare or pension fund or United States branch of an alien insurer.
10. “Officer” means an officer of a domestic organization.
11. “Organization” means any insurer, rating organization, service or advisory organization, joint underwriting association or other organization which is subject, in whole or in part, to the insurance laws of this state.
12. “Quorum” means the minimum number of directors required by charter and law, other than this chapter, to be present for valid action to be taken at a meeting of a board with respect to each particular item of business which may come before such meeting.
(Added to NRS by 1971, 1818)