Nonresident Business Entity Requirements
All Business Entities:
“Business entity” refers to a corporation, limited liability company, limited liability partnership and associations or other legal forms of organization. A business entity that is required to be licensed in this state, that transacts insurance without a license, is subject to an administrative fine of not more than $1,000 per act or violation.
Uniform Application for Business Entity:
The licensing fee is $195. The modification fee is $60 (to designate the first individual to the entity license). Fees are payable through the online application process or by check or money order to the Nevada Division of Insurance. Fees paid are nonrefundable. *Effective July 1, 2015 licensing fee will be reduced to $185, plus online processing fees. New legislation effective July 1, 2015:
- Assembly Bill (AB) 486 - fee changes
- Senate Bill (SB) 67 - mandates licensee's establish and maintain a valid electronic mail address.
Corporations, Limited Liability Companies, Limited Liability Partnerships and Associations, etc.:
Corporations, Limited Liability Companies, Limited Liability Partnerships and Associations should contact the Nevada Secretary of State at (775) 684-5708, or by logging on to www.nvsos.gov for any forms it may require to register the business entity. The Secretary of State Qualification to Do Business is not a perquisite for the issuance of nonresident license in this state.
Applicants must contact the Division of Insurance (Division) for a name approval prior to completing any articles of incorporation, articles of organization or amendments with the Secretary of State’s (SOS) office, or prior to filing any DBA/Fictitious Firm Name filings with the appropriate Nevada County Clerk’s office.
Phone: (775) 687-0700
Division General E-mail
Upon the Division's approval of the name, the Division will return its approval to the entity for filing with the SOS or County Clerk(s). When the SOS/County Clerk completes its review and approval process, the business entity will be required to furnish a filed copy of the approved SOS/County Clerk filing to the Division.
The applicant must be actively licensed in their Home State for the same lines of authority and/or license type applied for in Nevada. The Nevada Division of Insurance will verify the information through the National State Producer Licensing Database. The cancellation of a home state license will result in the cancellation of a nonresident license issued in this state.
Upon the issuance of the business entity license, any individual selling, soliciting, or negotiating insurance risk on behalf of the entity in this state must be designated to the business entity’s license. Those persons are not required to be officers, directors or partners within the business entity.
If the individual is currently licensed in Nevada, the business entity may submit the individual’s association one of two ways:
- Online through Sircon’s Compliance Express (the modification/affiliation fee is $60 plus any online processing fees)
- Hardcopy filings submitted utilizing the Individual Modification Form, Form 327A.
A producer contracted with an insurer must be appointed within 15 days after the contract is executed or within 15 days of the license being issued by the Division. The date of issuance will be available on the NAIC Producer Database. The appointment must include the lines of authority under which the license is issued. The Division will accept electronic or paper appointments. The appointment fee is $15 and renews annually on July 1.
Contact the Division’s Producer Licensing Section in Carson City at (775) 687-0700, option 2, in Las Vegas at (702) 486-4595 or anywhere in Nevada toll free at (800) 992-0900.
Title 57 of the Nevada Revised Statutes (NRS) governs the business of insurance. Nevada’s laws and regulations are available online at www.leg.state.nv.us.