NAC683A.105. Application for certificate of registration.

Each applicant for a certificate of registration as an administrator shall submit:

     1. If the applicant is a newly formed business, a pro forma balance sheet and a statement listing estimated income and expenses for the first year, compiled in a form which complies with generally accepted accounting principles.

     2. Evidence of the ability of the applicant to pay its obligations when they are due. The Division, in determining an applicant’s ability to pay its obligations when due, will consider the capitalization and current financial condition of the applicant and may request credit reports of the applicant and the owners.

     (Added to NAC by Comm’r of Insurance, eff. 1-22-86; A 5-27-92; 12-15-94; R152-99, 1-28-2000)