1. The Commissioner shall grant or deny an application for certification as an association of self-insured public or private employers within 60 days after receiving the application. If the application is materially incomplete or does not comply with the applicable provisions of the law, the Commissioner shall notify the applicant of the additional information or changes required. Under such circumstances, if the Commissioner is unable to act upon the application within this 60-day period, the Commissioner may extend the period for granting or denying the application, but for not longer than an additional 90 days.
2. Upon determining that an association is qualified as an association of self-insured public or private employers, the Commissioner shall issue a certificate to that effect to the association and the association’s administrator. No certificate may be issued to an association that, within the 2 years immediately preceding its application, has had its certification as an association of self-insured public or private employers involuntarily withdrawn by the Commissioner.
3. A certificate issued pursuant to this section must include, without limitation:
(a) The name of the association;
(b) The name of each employer who the Commissioner determines is a member of the association at the time of the issuance of the certificate;
(c) An identification number assigned to the association by the Commissioner; and
(d) The date on which the certificate was issued.
4. A certificate issued pursuant to this section remains in effect until the certificate is withdrawn by the Commissioner, the certificate is cancelled at the request of the association or an association does not pay, in addition to any other fee or charge, all applicable fees required pursuant to NRS 680C.110. Coverage for an association granted a certificate becomes effective on the date of certification or the date specified in the certificate.
5. The Commissioner shall not grant a request to cancel a certificate unless the association has insured or reinsured all incurred obligations with an insurer authorized to do business in this State pursuant to an agreement filed with and approved by the Commissioner. The agreement must include coverage for actual claims and claims incurred but not reported, and the expenses associated with those claims.
(Added to NRS by 1993, 671; A 1995, 1641, 1981; 1997, 3218; 2003, 3340; 2009, 1829)
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