Nev. Admin. Code § 694C.220 - Independent certified public accountant: Report of retention by insurer; acknowledgment of applicable requirements

1. A captive insurer shall report to the Commissioner in writing the name and address of the independent certified public accountant whom the captive insurer has retained to conduct the annual audit required to be filed pursuant to NAC 694C.210 within 90 days after becoming subject to chapter 694C of NRS.

2. The captive insurer shall:

(a) Obtain a letter from the independent certified public accountant which states that the accountant is aware of the provisions of title 57 of NRS, and the regulations adopted pursuant thereto, that relate to accounting and financial matters, and which affirms that the accountant will express his or her opinion on the financial statements of the captive insurer in terms of their conformity to the accounting practices prescribed or otherwise permitted by NRS 694C.400, and the regulations adopted pursuant thereto, specifying such exceptions as he or she deems appropriate; and

(b) File a copy of the letter with the Commissioner.

Notes

Nev. Admin. Code § 694C.220

Added to NAC by Comm'r of Insurance by R125-99, eff. 1-27-2000; A by R064-06, 9-18-2006

NRS 679B.130, 694C.170, 694C.400