Nevada § 693A.575 Procedure for reorganization

Nevada Statutes

§ 693A.575 — Procedure for reorganization

Nevada § 693A.575

Title 57INSURANCE

Ch. 693ACorporate

REORGANIZATION OF MUTUAL INTO STOCK INSURER

This text of Nevada § 693A.575 (Procedure for reorganization) 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. § 693A.575 (2026).

Text

A domestic mutual insurer may, by complying with NRS 693A.550 to 693A.665, inclusive, and obtaining the approval of the Commissioner, reorganize by: 1. Merging the membership interests of its policyholders into:

(a)A mutual insurance holding company formed for the purpose of the reorganization; or

(b)An existing mutual insurance holding company; and 2. Continuing the corporate existence of the mutual insurer as a stock insurer subsidiary of the mutual insurance holding company.

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A domestic mutual insurer may, by complying with NRS 693A.550 to 693A.665, inclusive, and obtaining the approval of the Commissioner, reorganize by:
1. Merging the membership interests of its policyholders into:
(a) A mutual insurance holding company formed for the purpose of the reorganization; or
(b) An existing mutual insurance holding company; and
2. Continuing the corporate existence of the mutual insurer as a stock insurer subsidiary of the mutual insurance holding company.