The Commissioner may waive any requirement which the Commissioner has promulgated for issue of an administrator’s certificate to any person or class of persons. In so doing the Commissioner shall consider, without limitation:
1. Whether the person acting as an administrator is primarily involved in a business other than that of administrator.
2. Whether the financial strength and history of the organization to which the applicant belongs, or which is the applicant, indicates stability in its continuity of doing business.
3. Whether the regular duties being performed by an administrator are such that the persons to be insured are not likely to be injured by a waiver of requirements.
(Added to NRS by 1977, 732)