Nev. Rev. Stat. § 694C.320

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

Section 694C.320 - Plan for payment of dividends; regulations

The Commissioner may approve an ongoing plan for the payment of dividends or other distributions by a captive insurer if, at the time of each payment or distribution, the retention of capital by the captive insurer is in excess of the amounts required by the Commissioner. The Commissioner shall adopt by regulation:

1. A specific amount that a captive insurer must have in excess capital for the approval of an ongoing plan for the payment of dividends or other distributions; or

2. A formula pursuant to which the specific amount of required excess capital may be calculated.

NRS 694C.320

Added to NRS by 1999, 3211