§ 682A.466 — Additional exemption from certain investment limitations with approval of Commissioner

Nevada § 682A.466

• Jurisdiction: Nevada
• Title 57: INSURANCE
• Ch. 682A: Investments

Text

In addition to the investments acquired as described in NRS 682A.462 and 682A.464, an insurer may acquire in accordance with this section an investment of any kind, or engage in investment practices described in NRS 682A.438, that are not specifically prohibited by the provisions of this chapter, without regard to any limitations of NRS 682A.402 to 682A.448, inclusive, if:
1. The Commissioner grants prior approval;
2. The insurer demonstrates that its investments are being made in a prudent manner and that the additional amounts will be invested in a prudent manner; and
3. As a result of and after giving effect to the transaction the aggregate amount of investments held by the insurer is not greater than:
(a) Twenty-five percent of its capital and surplus; or
(b) One hundred percent of capital and surplus less 10 percent of its admitted assets.

Legislative History

(Added to NRS by 2015, 3447 )