Section 682A.310 - Exemption from requirements for admitted assets An insurer may acquire or hold as admitted assets investments that do not otherwise qualify as provided in this chapter if:
1. The insurer has not acquired them for the purpose of circumventing any limitations contained in this chapter;2. The insurer complies with the provisions of NRS 682A.380 and 682A.386 as to the investments; and3. The insurer acquires the investments in the following circumstances: (a) As payment on account of existing indebtedness or in connection with the refinancing, restructuring or workout of existing indebtedness, if taken to protect the insurer's interest in that investment;(b) As realization on collateral for an obligation;(c) In connection with an otherwise qualified investment or investment practice, as interest on, or a dividend or other distribution related to, the investment or investment practice, or in connection with the refinancing of the investment, in each case for no additional or only nominal consideration;(d) Under a lawful and bona fide agreement of recapitalization or voluntary or involuntary reorganization in connection with an investment held by the insurer; or(e) Under a bulk reinsurance, merger or consolidation transaction approved by the Commissioner if the assets constitute admissible investments for the ceding, merged or consolidated companies.Added to NRS by 2015, 3428Added by 2015, Ch. 522,§138, eff. 7/1/2015.