Nev. Rev. Stat. § 682A.570

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1

Section 682A.570 - Limited exemption from certain restrictions on investments

An insurer may acquire investments, or engage in investment practices, in accordance with the provisions of this section and NRS 682A.572, of any kind that are not specifically prohibited by this chapter, or engage in investment practices, without regard to any limitation in NRS 682A.512 to 682A.558, inclusive, but an insurer shall not acquire an investment or engage in an investment practice in accordance with the provisions of this section and NRS 682A.572 if, as a result of and after giving effect to the transaction, the aggregate amount of the investments held by the insurer in accordance with the provisions of this section and NRS 682A.572 would exceed the greater of:

1. Its unrestricted surplus; or

2. The lesser of:

(a) Ten percent of its admitted assets; or

(b) Fifty percent of its surplus as regards policy holders.

NRS 682A.570

Added to NRS by 2015, 3463

Added by 2015, Ch. 522,§229, eff. 7/1/2015.