Nev. Admin. Code § 616B.451 - Certificate of authority covering self-insured employer and any subsidiary or affiliated corporation: Procedure; requirements
1. A
self-insured employer may request that the Commissioner issue one certificate
of authority to cover the employer and any subsidiary or affiliated
corporation. In reviewing such a request, the Commissioner will apply the
standards of NAC
616B.424
to all of the subsidiaries and corporations as if they were a single
entity.
2. The businesses that wish
to be covered by one certificate shall file a statement with the Commissioner
that lists the owners of the businesses and the percentage of the businesses
held by each owner and that verifies that the operations of each business are
controlled by the same owners. The Commissioner may require each business, or
the owner of each business, or both, to indemnify the other businesses or
owners who will be covered by the certificate and hold them harmless from
liability for any claim for compensation filed pursuant to chapters 616A to
617, inclusive, of NRS.
3. The
Commissioner may issue one certificate to cover a business and one or more
subsidiaries or affiliated corporations if:
(a) The operations of each business are
controlled by the same natural persons or corporation; and
(b) An independent auditor determines that
there is sufficient similarity in the control of the businesses to present a
combined financial statement for all of the businesses that will be covered by
the certificate.
4. A
certificate issued by the Commissioner pursuant to this section will list the
names and locations of all the businesses covered by the certificate.
5. If the self-insured employer later
requests that a new business or a new location be added to the certificate, the
Commissioner will review that request in accordance with this section. If
approved, a new certificate will be issued to the self-insured employer and
list all covered businesses or locations.
6. As used in this section, "affiliated
corporation" means a corporation that directly or indirectly, through one or
more intermediaries, is controlled by, or is under common control with, the
self-insured employer.
Notes
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