"Principal place of business" means, for the purpose of determining the home state of the insured:
1. The state where the insured maintains its headquarters and where the insured’s high-level officers direct, control and coordinate its business activities;
2. If the insured’s high-level officers direct, control and coordinate its business activities in more than one state, the state in which the greatest percentage of the insured’s taxable premium for that insurance contract is allocated; or
3. If the insured’s high-level officers direct, control and coordinate its business activities outside of any state, the state to which the greatest percentage of the insured’s taxable premium for that insurance contract is allocated.
(Added to NRS by 2011, 2011)
Structure Nevada Revised Statutes
Chapter 685A - Nonadmitted Insurance
NRS 685A.031 - "Broker" defined.
NRS 685A.0315 - "Domestic surplus lines insurer" defined.
NRS 685A.032 - "Exempt commercial purchaser" defined.
NRS 685A.033 - "Export" defined.
NRS 685A.034 - "Home state" defined.
NRS 685A.035 - "Independently procured insurance" defined.
NRS 685A.036 - "Multi-state risk" defined.
NRS 685A.037 - "Nonadmitted insurance" defined.
NRS 685A.0375 - "Nonadmitted insurer" defined.
NRS 685A.038 - "Principal place of business" defined.
NRS 685A.0385 - "Principal residence" defined.
NRS 685A.039 - "Surplus lines insurance" defined.
NRS 685A.040 - Conditions for export.
NRS 685A.050 - Broker’s report.
NRS 685A.060 - Open lines for export.
NRS 685A.070 - Eligible insurers.
NRS 685A.080 - Evidence of insurance; changes; penalty.
NRS 685A.090 - Contracts for nonadmitted coverage: Requirements.
NRS 685A.100 - Coverage from unauthorized insurer valid.
NRS 685A.110 - Liability of insurer.
NRS 685A.140 - Suspension or revocation of broker’s license.
NRS 685A.155 - Broker authorized to charge fee for procuring coverage; maximum amount of fee.
NRS 685A.160 - Records of broker.
NRS 685A.175 - Quarterly report and payment of tax by certain brokers.
NRS 685A.180 - Tax on surplus lines.
NRS 685A.190 - Failure to file statement or pay tax; penalties; statute of limitations.
NRS 685A.200 - Suit against unauthorized insurers; venue; process.
NRS 685A.205 - Regulations: Compliance with federal law relating to nonadmitted insurance.