NAC695D.130. Maintenance of principal office and place of business.

     1. Except as otherwise provided in subsection 2, every domestic organization must maintain its principal office and place of business in this State.

     2. The Commissioner, for good cause shown, may permit an organization to maintain its principal office or place of business in another state if it is:

     (a) In the best interests of the organization and its members; and

     (b) Reasonably convenient to the Commissioner in supervising the insurer.

     3. Permission granted pursuant to this subsection is subject to such reasonable terms and conditions as the Commissioner establishes in the order granting permission.

     4. For the purposes of this section, “domestic organization” means an organization formed under the laws of this State.

     (Added to NAC by Comm’r of Insurance, eff. 12-2-88)