1. This section and NRS 693A.090 and 693A.100 apply to all domestic stock insurers except:
(a) A domestic stock insurer having of record less than 100 holders of any class of equity securities; but if 95 percent or more of the insurer’s equity securities are owned or controlled by a parent or an affiliated insurer, this section and NRS 693A.090 and 693A.100 do not apply to such insurer unless its remaining securities are held of record by 500 or more persons; and
(b) Domestic stock insurers which, relative to the voting or other securities involved, file with the Securities and Exchange Commission forms of proxies, consents and authorizations pursuant to the Securities Exchange Act of 1934, as amended.
2. The Commissioner shall have authority to make and promulgate reasonable rules and regulations for the effectuation of this section and NRS 693A.090 and 693A.100, and in so doing shall give due consideration to rules and regulations promulgated for similar purposes by the insurance supervisory officers of other states.
(Added to NRS by 1971, 1800)
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.