In addition to other aspects of insurance operations to which provisions of this Code by their terms apply, “transact” with respect to a business of insurance includes any of the following, by mail or otherwise or whether or not for the purpose of profit:

1. 1. Solicitation or inducement.
2. 2. Negotiations.
3. 3. Effectuation of a contract of insurance.
4. 4. Transaction of matters subsequent to effectuation and arising out of such a contract.

(Added to NRS by 1971, 1559)