Nevada § 692C.360 Transactions with affiliates; regulations

Nevada Statutes

§ 692C.360 — Transactions with affiliates; regulations

Nevada § 692C.360

Title 57INSURANCE

Ch. 692CHolding

MISCELLANEOUS PROVISIONS

This text of Nevada § 692C.360 (Transactions with affiliates; regulations) 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. § 692C.360 (2026).

Text

1. Material transactions by registered insurers with their affiliates are subject to all of the following standards:

(a)The terms must be fair and reasonable.

(b)Charges or fees for services performed must be reasonable.

(c)Expenses incurred and payment received must be allocated to the insurer in conformity with customary accounting practices concerning insurance consistently applied.

(d)The books, accounts and records of each party must be so maintained as to disclose clearly and accurately the precise nature and details of the transactions and must include any accounting information required to support the reasonableness of any charges or fees.

(e)The insurer’s surplus as regards policyholders following any dividends or distributions to shareholder affiliates must be reasonable in

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1. Material transactions by registered insurers with their affiliates are subject to all of the following standards:
(a) The terms must be fair and reasonable.
(b) Charges or fees for services performed must be reasonable.
(c) Expenses incurred and payment received must be allocated to the insurer in conformity with customary accounting practices concerning insurance consistently applied.
(d) The books, accounts and records of each party must be so maintained as to disclose clearly and accurately the precise nature and details of the transactions and must include any accounting information required to support the reasonableness of any charges or fees.
(e) The insurer’s surplus as regards policyholders following any dividends or distributions to shareholder affiliates must be reasonable in relation to the insurer’s outstanding liabilities and adequate to its financial needs.
2. The Commissioner may adopt regulations governing agreements for sharing the cost of services or management between registered insurers and their affiliates.