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Get the free Captive Certificate of Dormancy Surrender Application - doi nv

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This application is submitted by a dormant captive insurer for approval to surrender a certificate of dormancy and to resume transacting in the business of insurance. The application requires submission
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How to fill out captive certificate of dormancy

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How to fill out captive certificate of dormancy

01
Obtain the captive certificate of dormancy form from the relevant regulatory authority.
02
Fill out the company name in the designated field.
03
Provide the registration number of the company or entity.
04
Specify the period of dormancy for which you are applying.
05
Include the reason for dormancy in the appropriate section.
06
Ensure to attach any required supporting documents, such as financial statements or board resolutions.
07
Review the form for accuracy and completeness.
08
Sign and date the certificate as required.
09
Submit the completed form to the regulatory authority, along with any applicable fees.

Who needs captive certificate of dormancy?

01
Businesses or entities that have temporarily ceased operations but are not formally dissolved.
02
Companies that need to maintain their legal status while inactive for a specified period.
03
Organizations looking to avoid penalties or maintain compliance with regulatory requirements during dormancy.
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A captive certificate of dormancy is an official document that indicates that a captive insurance company is inactive or not currently writing insurance policies.
Captive insurance companies that are not conducting business or writing policies during a specific period are required to file a captive certificate of dormancy.
To fill out a captive certificate of dormancy, the company must provide details such as its name, registration number, the period of dormancy, and any other required information as specified by regulatory authorities.
The purpose of the captive certificate of dormancy is to formally notify regulatory bodies that a captive insurance company is inactive, which can help in maintaining compliance and avoiding penalties.
Information that must be reported includes the name of the captive insurance company, its registration details, the duration of dormancy, and affirmation that no insurance policies have been issued during that time.
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