1. A domestic insurer may not intentionally enter into transactions which are part of a plan or series of like transactions with affiliates if the purpose of those separate transactions is to avoid the threshold provided in NRS 692C.363 and thus avoid the review that would otherwise occur. If the Commissioner determines that such separate transactions were entered into over any 12-month period for that purpose, the Commissioner may exercise his or her authority pursuant to NRS 692C.410 to 692C.490, inclusive.
2. The Commissioner, in reviewing transactions pursuant to this section and NRS 692C.363, shall consider whether the transactions comply with the standards set forth in NRS 692C.360 and 692C.370 and whether the transactions may adversely affect the interests of policyholders.
3. A domestic insurer shall notify the Commissioner within 30 days after it makes an investment in any corporation if the total investment in that corporation by it and its affiliates exceeds 10 percent of the corporation’s voting securities.
(Added to NRS by 1995, 1774)
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.