Title 57

NRS 682A.345 Agreements to purchase securities in advance of issuance prohibited. An insurer shall not enter into an agreement to purchase securities in advance of their issuance for resale to the public as part of a distribution of the securities by the issuer, or otherwise guar…

NRS 682A.350 Order by Commissioner to alter investment practice. Notwithstanding the provisions of this chapter, the Commissioner, for good cause, may, in accordance with the provisions of chapter 233B of NRS, order an insurer to nonadmit, limit, dispose of, withdraw from or disc…

NRS 682A.355 Insurance futures and insurance future options. Insurance futures and insurance future options are not considered investments or investment practices for the purposes of this chapter. (Added to NRS by 2015, 3430) Authorization of Investments by Board of Directors

NRS 682A.365 Adoption by board of written plan for investments. An insurer’s board of directors shall adopt a written plan for acquiring and holding investments and for engaging in investment practices that specifies guidelines as to the quality, maturity and diversification of i…

NRS 682A.367 Supervision and direction of board; formal resolution of board regarding investments. Investments acquired and held pursuant to this chapter must be acquired and held under the supervision and direction of the board of directors of the insurer. The board of directors…

NRS 682A.369 Quarterly review of investments and written plan for investments. On no less than a quarterly basis, and more often if deemed appropriate, an insurer’s board of directors or a committee of the board shall: 1. Receive and review a summary report on the insurer’s inves…

NRS 682A.371 Availability of documentation to board. In discharging its duties pursuant to NRS 682A.365 to 682A.375, inclusive, the board of directors shall require that the records of any authorizations or approvals, other documentation as the board may require and reports of an…

NRS 682A.373 Standard of care. In discharging its duties pursuant to NRS 682A.365 to 682A.375, inclusive, the board of directors of an insurer shall perform its duties in good faith and with that degree of care that ordinarily prudent individuals in like positions would use under…

NRS 682A.375 “Board of directors” refers to any equivalent governing body. If an insurer does not have a board of directors, all references to the board of directors in this chapter shall be deemed to be references to the governing body of the insurer having authority equivalent …

NRS 682A.380 Prohibited investments. 1. An insurer shall not, directly or indirectly: (a) Invest in an obligation or security, or make a guarantee for the benefit of or in favor of an officer or director of the insurer, except as provided in NRS 682A.382 and 682A.384; (b) Invest …

NRS 682A.382 Loans to officers and directors prohibited. 1. Except as otherwise provided in NRS 682A.384, an insurer shall not, without the prior written approval of the Commissioner, directly or indirectly: (a) Make a loan to, or another investment in, an officer or director of …

NRS 682A.384 Permissible loans. An insurer may, without the prior written approval of the Commissioner, make: 1. Policy loans in accordance with the terms of the policy or contract and NRS 682A.460; 2. Advances to officers or directors for expenses reasonably expected to be incur…

NRS 682A.386 Valuation of investments. For the purposes of this chapter, the value or amount of an investment acquired or held, or an investment practice engaged in, pursuant to this chapter, unless otherwise specified in this title, is the value at which assets of an insurer are…

NRS 682A.388 Authority of Commissioner to adopt regulations. The Commissioner may, pursuant to chapter 233B of NRS, adopt regulations to carry out the provisions of this chapter. (Added to NRS by 2015, 3433) LIFE AND HEALTH INSURERS

NRS 682A.400 Applicability. NRS 682A.400 to 682A.468, inclusive, apply to the investments and investment practices of life and health insurers. (Added to NRS by 2015, 3433)

NRS 682A.402 Diversification of investments. 1. Except as otherwise specified in this chapter, an insurer shall not acquire, directly or indirectly through an investment subsidiary, an investment in accordance with the provisions of this chapter if, as a result of and after givin…

NRS 682A.404 Medium and lower grade investments. 1. An insurer shall not acquire, directly or indirectly through an investment subsidiary, an investment in accordance with the provisions of NRS 682A.408, 682A.420 to 682A.428, inclusive, or 682A.440 to 682A.448, inclusive, or coun…

NRS 682A.406 Canadian investments. 1. An insurer shall not acquire, directly or indirectly through an investment subsidiary, a Canadian investment authorized by the provisions of this chapter if, as a result of and after giving effect to the investment, the aggregate amount of th…

NRS 682A.408 Rated credit instruments. 1. Subject to the limitations of NRS 682A.404, but not to the limitations of NRS 682A.402, an insurer may acquire rated credit instruments issued, assumed, guaranteed or insured by: (a) The United States; (b) A government-sponsored enterpris…

NRS 682A.410 Insurer investment pools. 1. An insurer may acquire investments in investment pools that invest only in: (a) Obligations with an SVO rating of 1 or 2, or the equivalent of an SVO rating of 1 or 2 by a nationally recognized statistical rating organization recognized b…

NRS 682A.412 Acquisition of equity interests generally permissible. Subject to the limitations of NRS 682A.402, 682A.404 and 682A.406, an insurer may acquire equity interests in business entities organized in accordance with the laws of any domestic jurisdiction. (Added to NRS by…

NRS 682A.414 Limitation on aggregate amount of investments held in equity interests. An insurer shall not acquire an investment in accordance with the provisions of NRS 682A.412 to 682A.418, inclusive, if, as a result of and after giving effect to the investment, the aggregate am…

NRS 682A.416 Restriction on mortgage or real estate holdings acquired or held as equity interests. An insurer shall not acquire in accordance with the provisions of NRS 682A.412 to 682A.418, inclusive, any investments that the insurer may acquire in accordance with the provisions…

NRS 682A.418 Short sale of equity investments. An insurer shall not short sell equity investments unless the insurer covers the short sale by owning the equity investment or an unrestricted right to the equity investment exercisable within 6 months after the short sale. (Added to…

NRS 682A.420 Tangible personal property under lease or other agreement. 1. Subject to the limitations of NRS 682A.402, 682A.404 and 682A.406, an insurer may acquire tangible personal property or equity interests therein located or used wholly or in part within a domestic jurisdic…

NRS 682A.422 Valuation of personal property under lease. The insurer shall compute the amount of each investment acquired in accordance with the provisions of NRS 682A.420 to 682A.428, inclusive, on the basis of the out-of-pocket purchase price and applicable related expenses pai…

NRS 682A.424 Limitation on aggregate amount of investments held in personal property under lease. An insurer shall not acquire an investment in accordance with the provisions of NRS 682A.420 to 682A.428, inclusive, if, as a result of and after giving effect to the investment, the…

NRS 682A.426 Computation of investments held as personal property under lease for purposes of investment diversification requirements. For the purposes of determining compliance with the limitations of NRS 682A.402, 682A.404 and 682A.406, investments acquired by an insurer in acc…

NRS 682A.428 Exempted personal property under lease. Nothing in NRS 682A.420 to 682A.428, inclusive, applies to tangible personal property lease arrangements between an insurer and its subsidiaries and affiliates in accordance with a cost-sharing arrangement or agreement permitte…

NRS 682A.430 Mortgage loans. 1. Subject to the limitations of NRS 682A.402, 682A.404 and 682A.406, an insurer may acquire, either directly or indirectly through limited partnership interests and general partnership interests not otherwise prohibited by paragraph (d) of subsection…

NRS 682A.432 Income-producing real estate. 1. An insurer may acquire, manage and dispose of real estate situated in a domestic jurisdiction either directly or indirectly through limited partnership interests and general partnership interests not otherwise prohibited by paragraph …

NRS 682A.434 Real estate for accommodation of business operations. 1. An insurer may acquire, manage and dispose of real estate for the convenient accommodation of the insurer’s, and its affiliates’, business operations, including home office, branch office and field office opera…

NRS 682A.436 Limitation on aggregate amount of investments held in mortgage loans and real estate. 1. An insurer shall not acquire an investment in accordance with the provisions of NRS 682A.430 if, as a result of and after giving effect to the investment, the aggregate amount of…

NRS 682A.438 Securities lending, repurchase, reverse repurchase and dollar roll transactions. An insurer may enter into securities lending, repurchase, reverse repurchase and dollar roll transactions with business entities, subject to the following requirements: 1. The insurer’s …

NRS 682A.440 Foreign investments. Subject to the limitations of NRS 682A.402, 682A.404 and 682A.406, an insurer may acquire foreign investments, or engage in investment practices with persons of or in foreign jurisdictions, of substantially the same type as those that an insurer …

NRS 682A.442 Foreign currency exposure. 1. Subject to the limitations of NRS 682A.402, 682A.404 and 682A.406, an insurer may acquire investments, or engage in investment practices denominated in foreign currencies, whether or not they are foreign investments acquired as described…

NRS 682A.444 Additional foreign investment and foreign currency allowance for insurers authorized to do business in foreign jurisdiction and holding foreign contracts. In addition to investments allowed under NRS 682A.440 and 682A.442, an insurer that is authorized to do business…

NRS 682A.446 Additional foreign investment and foreign currency allowance for insurers not authorized to do business in foreign jurisdiction but holding foreign contracts. In addition to investments allowed under NRS 682A.440 and 682A.442, an insurer that is not authorized to do …

NRS 682A.448 Calculation of foreign investments for purposes of determining compliance with limitations. Investments acquired in conformance with NRS 682A.440 to 682A.448, inclusive, must be aggregated with investments of the same types made under this chapter, and in a similar m…

NRS 682A.450 Derivative transactions. An insurer may, directly or indirectly through an investment subsidiary, engage in derivative transactions as described in NRS 682A.450 to 682A.458, inclusive, pursuant to the following conditions: 1. An insurer may use derivative instruments…

NRS 682A.452 Derivative transactions: Limitations on hedging transactions. An insurer may enter into hedging transactions under NRS 682A.450 to 682A.458, inclusive, if, as a result of and after giving effect to the transaction: 1. The aggregate statement value of options, caps, f…

NRS 682A.454 Derivative transactions: Limitations on income generation transactions. An insurer may only enter into the following types of income generation transactions if, as a result of and after giving effect to the transactions, the aggregate statement value of the fixed inc…

NRS 682A.456 Derivative transactions: Counterparty exposure. An insurer shall include all counterparty exposure amounts in determining compliance with the limitations of NRS 682A.402, 682A.404 and 682A.406. (Added to NRS by 2015, 3447)

NRS 682A.458 Commissioner may allow additional derivative transactions by regulation; limitations. In accordance with the regulations adopted pursuant to NRS 682A.388, the Commissioner may approve additional transactions involving the use of derivative instruments in excess of th…

NRS 682A.460 Policy loans. A life insurer may lend to a policyholder on the security of the cash surrender value of the policyholder’s policy a sum not exceeding the legal reserve that the insurer is required to maintain on the policy. (Added to NRS by 2015, 3447)

NRS 682A.462 Limited exemption from quantitative limits on certain investments. Solely for the purpose of acquiring investments that exceed the quantitative limitations of NRS 682A.402 to 682A.448, inclusive, an insurer may acquire in accordance with this section an investment, o…