Nevada § 692C.400 Extraordinary distributions to shareholders: Conditional declaration

Nevada Statutes

§ 692C.400 — Extraordinary distributions to shareholders: Conditional declaration

Nevada § 692C.400

Title 57INSURANCE

Ch. 692CHolding

MISCELLANEOUS PROVISIONS

This text of Nevada § 692C.400 (Extraordinary distributions to shareholders: Conditional declaration) 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.400 (2026).

Text

Notwithstanding any other provision of law, an insurer may declare an extraordinary dividend or distribution which is conditional upon the Commissioner’s approval thereof, and such a declaration shall confer no rights upon shareholders until:

1.The Commissioner has approved the payment of such dividend or distribution; or

2.The Commissioner has not disapproved such payment within the 30-day period referred to in NRS 692C.390 .

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Notwithstanding any other provision of law, an insurer may declare an extraordinary dividend or distribution which is conditional upon the Commissioner’s approval thereof, and such a declaration shall confer no rights upon shareholders until:
1. The Commissioner has approved the payment of such dividend or distribution; or
2. The Commissioner has not disapproved such payment within the 30-day period referred to in NRS 692C.390 .