Nevada § 682A.516 Canadian investments

Nevada Statutes

§ 682A.516 — Canadian investments

Nevada § 682A.516

Title 57INSURANCE

Ch. 682AInvestments

PROPERTY AND CASUALTY, FINANCIAL GUARANTY AND MORTGAGE GUARANTY INSURERS

This text of Nevada § 682A.516 (Canadian investments) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 682A.516 (2026).

Text

1.An insurer shall not acquire, directly or indirectly through an investment subsidiary, any Canadian investments authorized by the provisions of this chapter if, as a result of and after giving effect to the investment, the aggregate amount of these investments held by the insurer would exceed 40 percent of its admitted assets, or if the aggregate amount of Canadian investments not acquired in accordance with paragraph (c) or (d) of subsection 1 of NRS 682A.518 held by the insurer would exceed 25 percent of its admitted assets.

2.As to an insurer that is authorized to do business in Canada or that has outstanding insurance, annuity or reinsurance contracts on lives or risks resident or located in Canada and denominated in Canadian currency, the limitations in subsection 1 must be increa

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1. An insurer shall not acquire, directly or indirectly through an investment subsidiary, any Canadian investments authorized by the provisions of this chapter if, as a result of and after giving effect to the investment, the aggregate amount of these investments held by the insurer would exceed 40 percent of its admitted assets, or if the aggregate amount of Canadian investments not acquired in accordance with paragraph (c) or (d) of subsection 1 of NRS 682A.518 held by the insurer would exceed 25 percent of its admitted assets.
2. As to an insurer that is authorized to do business in Canada or that has outstanding insurance, annuity or reinsurance contracts on lives or risks resident or located in Canada and denominated in Canadian currency, the limitations in subsection 1 must be increased by the greater of:
(a) The amount the insurer is required by Canadian law to invest in Canada or to be denominated in Canadian currency; or
(b) One hundred twenty-five percent of the amount of its reserves and other obligations under contracts on risks resident or located in Canada.