Nevada § 693A.600 Abandonment of plan of reorganization

Nevada Statutes

§ 693A.600 — Abandonment of plan of reorganization

Nevada § 693A.600

Title 57INSURANCE

Ch. 693ACorporate

REORGANIZATION OF MUTUAL INTO STOCK INSURER

This text of Nevada § 693A.600 (Abandonment of plan of 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.600 (2026).

Text

A mutual insurer may, by not less than a two-thirds vote of the members of its board of directors and with the approval of the Commissioner, abandon a plan of reorganization at any time before the issuance of the certificate of authority by the Commissioner pursuant to NRS 693A.605. Upon abandonment, all rights and obligations arising out of the plan of reorganization terminate and the mutual insurer shall continue to conduct its business as a domestic mutual insurer as though no plan of reorganization had ever been adopted.

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A mutual insurer may, by not less than a two-thirds vote of the members of its board of directors and with the approval of the Commissioner, abandon a plan of reorganization at any time before the issuance of the certificate of authority by the Commissioner pursuant to NRS 693A.605. Upon abandonment, all rights and obligations arising out of the plan of reorganization terminate and the mutual insurer shall continue to conduct its business as a domestic mutual insurer as though no plan of reorganization had ever been adopted.