694C.143 - “Sponsor” defined.
694C.143 “Sponsor” defined. “Sponsor” means an insurer licensed pursuant to the laws of any state, a reinsurer authorized or approved under the laws of any state, or a captive insurer formed or licensed pursuant to this chapter that:
1. Meets the requirements of subsection 3 of NRS 694C.180; and
2. Is approved by the Commissioner to provide all or part of the capital and surplus required by applicable law and to organize and operate a sponsored captive insurer.
(Added to NRS by 2005, 2148)