1. A certificate of authority continues in force as long as the insurer is entitled thereto under this Code, and until suspended or revoked by the Commissioner or terminated at the insurer’s request, if, each year, the insurer:

(a) Pays on or before March 1 the continuation fee provided in NRS 680B.010 and, in addition to any other fee or charge, all applicable fees required pursuant to NRS 680C.110;

(b) Files its annual statement for the next preceding calendar year as required by NRS 680A.270; and

(c) Pays, if required, the premium taxes for the preceding calendar year.

2. If not so continued by the insurer, its certificate of authority expires at midnight on the May 31 next following such failure of the insurer to continue it in force, unless earlier revoked for failure to pay taxes as provided in NRS 680A.190. The Commissioner shall promptly notify the insurer of the occurrence of any failure resulting in the impending expiration of its certificate of authority.

3. The Commissioner may, upon the insurer’s request made within 3 months after expiration, reinstate a certificate of authority which the insurer has inadvertently permitted to expire, after the insurer has fully cured all its failures which resulted in the expiration, and upon payment by the insurer of the fee for reinstatement specified in subsection 1 of NRS 680B.010. Otherwise, the insurer may be granted another certificate of authority only after filing an application therefor and meeting all other requirements for an original certificate of authority in this state.

(Added to NRS by 1971, 1583; A 1987, 643; 1997, 3017; 2009, 1765)