Nevada Administrative Code

NAC 693A.130 Proxies, consents and authorizations. (NRS 679B.130) A person shall not solicit or permit the use of his or her name to solicit by mail or otherwise, any proxy, consent or authorization in respect to any class of equity security of the insurer which is held of record…

NAC 693A.140 Equivalent information. (NRS 679B.130, 693A.100) 1. Unless proxies, consents or authorizations in respect of any class of equity security of a domestic insurer are solicited by or on behalf of the management of the insurer from the holders of record in accordance wit…

NAC 693A.150 Information to security holders. (NRS 679B.130, 693A.100) 1. No solicitation may be made unless each person solicited is concurrently furnished, or has been previously furnished, a written proxy statement containing the information specified in NAC 693A.320 to 693A.4…

NAC 693A.160 Proxy and information statements. (NRS 679B.130, 693A.100) 1. The form of proxy must: (a) Contain a statement in boldface type whether or not the proxy is solicited on behalf of the management; (b) Provide a specifically designed blank space for dating the proxy; and…

NAC 693A.170 Filing of solicitations. (NRS 679B.130, 693A.100) 1. Two preliminary copies of the information statement or the proxy statement and form of proxy and any other soliciting material to be furnished to security holders must be filed with the Commissioner at least 10 day…

NAC 693A.180 False or misleading statements. (NRS 679B.130, 693A.100) No proxy statement, form of proxy, notice of meeting, information statement or other written or oral communication which is subject to NAC 693A.010 to 693A.560, inclusive, may contain any statement which, at th…

NAC 693A.190 Undated or postdated proxies. (NRS 679B.130) No person making a solicitation subject to NAC 693A.010 to 693A.560, inclusive, may solicit any undated or postdated proxy, or any proxy which provides that it will be deemed to be dated after the date on which it is signe…

NAC 693A.210 Election contests. (NRS 679B.130) NAC 693A.210 to 693A.250, inclusive, apply to any solicitation subject to NAC 693A.010 to 693A.560, inclusive, by any person or group for the purpose of opposing another solicitation subject to NAC 693A.010 to 693A.560, inclusive, ma…

NAC 693A.220 Solicitations: Filing of information. (NRS 679B.130, 693A.100) 1. No solicitation subject to NAC 693A.210 to 693A.250, inclusive, may be made by any person other than the management of an insurer unless at least 5 business days prior thereto, or a shorter period auth…

NAC 693A.230 Solicitations before furnishing of proxy statements: Conditions. (NRS 679B.130, 693A.100) A solicitation subject to NAC 693A.210 to 693A.250, inclusive, may be made before furnishing security holders a written proxy statement containing the information specified in N…

NAC 693A.240 Solicitations before furnishing of proxy statements: Filing. (NRS 679B.130, 693A.100) Two copies of any soliciting material proposed to be sent or given to security holders before the furnishing of the written proxy statement required by subsection 1 of NAC 693A.150 …

NAC 693A.250 Annual reports. (NRS 679B.130) Two copies of any portion of the annual report referred to in subsection 2 of NAC 693A.150 which comments upon or refers to any solicitation subject to this section, or to any participant in any such solicitation, other than the solicit…

NAC 693A.310 Proxy and information statements: Required information. (NRS 679B.130) The statements and other information set forth in NAC 693A.320 to 693A.460, inclusive, are required for proxy statements and statements of information. (Comm’r of Insurance, M-4, supplied in codif…

NAC 693A.320 Revocability. (NRS 679B.130) Each statement must state whether or not the person giving the proxy has the power to revoke it. If the right to revoke the proxy before it is exercised is limited or is subject to compliance with any formal procedure, a brief description…

NAC 693A.330 Dissenters’ rights of appraisal. (NRS 679B.130) A brief outline of the rights of appraisal or similar rights of dissenting holders of security with respect to any matter to be acted upon must be included, indicating any statutory procedure required to be followed by …

NAC 693A.340 Identification of source. (NRS 679B.130) 1. If the solicitation is made by the management of the insurer, a statement to that effect, including the name of any director of the insurer who has informed the management in writing that he or she intends to oppose any act…

NAC 693A.350 Certain interests. (NRS 679B.130) A brief description of any substantial interest, direct or indirect, in the form of security holdings or otherwise, held by any director, nominee for election as director, officer and, if the solicitation is made other than on behalf…

NAC 693A.360 Voting securities. (NRS 679B.130) 1. A statement for each class of voting securities of the insurer which are entitled to be voted at the meeting, showing the number of shares outstanding and the number of votes to which each class is entitled. 2. The date on which t…

NAC 693A.370 Nominees and directors. (NRS 679B.130) If action is to be taken with respect to the election of directors, the following information must be furnished. With respect to each person nominated for election as a director and each other person whose term of office as a di…

NAC 693A.380 Remuneration and other transactions. (NRS 679B.130) 1. The information reported or required in Item 1 of Schedule SIS* under the hearing “Information Regarding Management and Directors” must be furnished if action is to be taken with respect to: (a) The election of d…

NAC 693A.390 Bonus, profit-sharing and other remuneration plans. (NRS 679B.130) If action is to be taken with respect to any bonus, profit-sharing or other remuneration plan of the insurer, the following information is required: 1. A brief description of the material features of …

NAC 693A.400 Pension and retirement plans. (NRS 679B.130) 1. If action is to be taken with respect to any pension or retirement plan of the insurer, the following information is required: (a) A brief description of the material features of the plan, each class of persons who will…

NAC 693A.410 Options, warrants and rights. (NRS 679B.130) If action is to be taken with respect to the granting or extension of any warrants, including options or other rights, to purchase securities of the insurer or any subsidiary or affiliate, other than warrants issued to all…

NAC 693A.420 Authorization or issue of securities. (NRS 679B.130) 1. If action is to be taken with respect to the authorization or issuance of any securities of the insurer, the title, amount and description of the securities to be authorized or issued must be furnished. 2. If th…

NAC 693A.430 Mergers, consolidations and acquisitions. (NRS 679B.130) 1. If action is to be taken with respect to a merger, consolidation, acquisition or similar matter, the following information outlined briefly must be furnished: (a) The rights of appraisal or similar rights of…

NAC 693A.440 Restatements of accounts. (NRS 679B.130) If action is to be taken with respect to the restatement of an asset, capital or surplus account of the insurer, the following information must be furnished: 1. The nature of the restatement and the date on which it is to beco…

NAC 693A.450 Other information. (NRS 679B.130) If action is to be taken with respect to any matter which is not required to be submitted to a vote of security holders, the statement must state the nature of the matter, the reason for submitting it to a vote of security holders an…

NAC 693A.460 Amendments to charter and bylaws. (NRS 679B.130) If action is to be taken with respect to any amendment of the insurer’s charter, bylaws or other documents as to which information is not required by NAC 693A.010 to 693A.560, inclusive, the statement must show the rea…

NAC 693A.510 Election contests. (NRS 679B.130, 693A.100) The information set forth in NAC 693A.520 to 693A.560, inclusive, is required for statements filed by or on behalf of a participant other than the insurer, as part of a proxy solicitation for an election contest. (Comm’r of…

NAC 693A.520 Insurer name and address. (NRS 679B.130) The report required by NAC 693A.510 must contain the name and address of the insurer. [Comm’r of Insurance, Schedule B item 1, eff. 5-13-72]

NAC 693A.530 Contestant name and background. (NRS 679B.130) A report required by NAC 693A.210 to 693A.250, inclusive, must contain the following information about the contestant: 1. Name and business address. 2. Present principal occupation or employment and the name, principal b…

NAC 693A.540 Interest of the contestant. (NRS 679B.130) The contestant shall include as part of his or her statement the following information: 1. The amount of each class of securities of the insurer owned beneficially, directly or indirectly. 2. The amount of each class of secu…

NAC 693A.550 Other information. (NRS 679B.130) 1. A statement of the time and circumstances under which each contestant became a participant in the solicitation and the nature and extent of his or her activities as a participant. 2. A brief description of, and where practicable a…

NAC 693A.560 Signature of statements. (NRS 679B.130) The statement must be dated and signed in substantially the following manner: I certify that all the information contained in this statement is true, complete and correct, to the best of my knowledge and belief. ...............…

NAC 693A.600 Definitions. (NRS 679B.130, 693A.110) As used in NAC 693A.600 to 693A.770, inclusive, unless the context otherwise requires, the words and terms defined in NAC 693A.610 to 693A.667, inclusive, have the meanings ascribed to them in those sections. (Added to NAC by Com…

NAC 693A.610 “Accredited state” defined. (NRS 679B.130, 693A.110) “Accredited state” means a state in which the agency which regulates insurance in that state has qualified as meeting the minimum financial regulatory standards established and promulgated from time to time by the …

NAC 693A.630 “Captive insurer” defined. (NRS 679B.130, 693A.110) “Captive insurer” means an insurance company which is owned by: 1. A parent organization and whose exclusive purpose is to insure risks of the parent organization and any affiliated companies of the parent organizat…

NAC 693A.640 “Control” and “controlled” defined. (NRS 679B.130, 693A.110) “Control” or “controlled” has the meaning ascribed to “control” in NRS 692C.050. (Added to NAC by Comm’r of Insurance, eff. 6-28-96; A by R094-14, 12-21-2015)

NAC 693A.645 “Controlled insurer” defined. (NRS 679B.130, 693A.110) “Controlled insurer” means a licensed insurer which is domiciled in this State or an insurer which is domiciled in a state that is not an accredited state and which is controlled by a producer. The term does not …

NAC 693A.650 “Controlling producer” defined. (NRS 679B.130, 693A.110) “Controlling producer” means a producer who controls an insurer. (Added to NAC by Comm’r of Insurance, eff. 6-28-96; A by R094-14, 12-21-2015)

NAC 693A.665 “Licensed insurer” defined. “Licensed insurer” means a person, firm, association or corporation duly licensed to transact property and casualty insurance business in this State. (Added to NAC by Comm’r of Insurance by R094-14, eff. 12-21-2015)

NAC 693A.667 “Producer” defined. “Producer” has the meaning ascribed to “producer of insurance” in NRS 679A.117. (Added to NAC by Comm’r of Insurance by R094-14, eff. 12-21-2015)

NAC 693A.670 Applicability. (NRS 679B.130, 693A.110) 1. Except as otherwise provided in subsection 2 or 3, the provisions of NAC 693A.600 to 693A.770, inclusive, apply to licensed insurers: (a) Domiciled in this State or in a state that is not an accredited state and does not hav…

NAC 693A.680 Written contract specifying responsibilities of controlling producer and controlled insurer; termination; nonassignability. (NRS 679B.130, 693A.110) 1. A controlled insurer shall not accept insurance business from a controlling producer and a controlling producer sha…

NAC 693A.690 Responsibilities of controlling producer: Accounting to controlled insurer; remission of money to controlled insurer; holding of money for controlled insurer; maintenance of records for controlled insurer. (NRS 679B.130, 693A.110) 1. A controlling producer shall prov…

NAC 693A.700 Standards, rules, procedures, rates and conditions of controlled insurer; rates of commissions, charges and other fees of controlling producer. (NRS 679B.130, 693A.110) 1. A controlled insurer shall provide to the controlling producer its underwriting standards, rule…

NAC 693A.710 Conditions for payments of compensation or commissions to controlling producer. (NRS 679B.130, 693A.110) 1. If a contract between a controlling producer and a controlled insurer provides that the controlling producer is to be compensated for insurance business placed…