Nevada § 694C.320 Plan for payment of dividends; regulations

Nevada Statutes

§ 694C.320 — Plan for payment of dividends; regulations

Nevada § 694C.320

Title 57INSURANCE

Ch. 694CCaptive

MISCELLANEOUS PROVISIONS

This text of Nevada § 694C.320 (Plan for payment of dividends; 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. § 694C.320 (2026).

Text

The Commissioner may approve an ongoing plan for the payment of dividends or other distributions by a captive insurer if, at the time of each payment or distribution, the retention of capital by the captive insurer is in excess of the amounts required by the Commissioner. The Commissioner shall adopt by regulation:

1.A specific amount that a captive insurer must have in excess capital for the approval of an ongoing plan for the payment of dividends or other distributions; or

2.A formula pursuant to which the specific amount of required excess capital may be calculated.

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The Commissioner may approve an ongoing plan for the payment of dividends or other distributions by a captive insurer if, at the time of each payment or distribution, the retention of capital by the captive insurer is in excess of the amounts required by the Commissioner. The Commissioner shall adopt by regulation:
1. A specific amount that a captive insurer must have in excess capital for the approval of an ongoing plan for the payment of dividends or other distributions; or
2. A formula pursuant to which the specific amount of required excess capital may be calculated.