Title 57

NRS 682A.502 Reserve requirements. Subject to all other limitations and requirements of this chapter, a property and casualty, financial guaranty, mortgage guaranty or accident and health insurer shall maintain an amount not less than 100 percent of adjusted loss reserves and los…

NRS 682A.504 Required reserve amount. 1. For the purposes of determining the amount of assets to be maintained in accordance with this section, the calculation of adjusted loss reserves and loss adjustment expense reserves, adjusted unearned premium reserves and statutorily requi…

NRS 682A.506 Required reporting of reserves. A property and casualty, financial guaranty, mortgage guaranty or accident and health insurer shall supplement its annual statement with a reconciliation and summary of its assets and reserve requirements as required in NRS 682A.502 an…

NRS 682A.508 Notification to Commissioner of insufficient reserves. If a property and casualty, financial guaranty, mortgage guaranty or accident and health insurer’s assets and reserves do not comply with NRS 682A.502 and 682A.504, the insurer shall notify the Commissioner immed…

NRS 682A.510 Authority of Commissioner to remedy insufficient reserves. 1. If the Commissioner determines that an insurer is not in compliance with NRS 682A.502 and 682A.504, the Commissioner shall require the insurer to eliminate the condition causing the noncompliance within a …

NRS 682A.512 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.514 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.518, 682A.530 to 682A.538, inclusive, or 682A.550 to 682A.558, inclusive, or coun…

NRS 682A.516 Canadian investments. 1. An insurer shall not acquire, directly or indirectly through an investment subsidiary, any Canadian investments authorized by the provisions of this chapter if, as a result of and after giving effect to the investment, the aggregate amount of…

NRS 682A.518 Rated credit instruments. 1. Subject to the limitations of NRS 682A.514, but not to the limitations of NRS 682A.512, an insurer may acquire rated credit instruments issued, assumed, guaranteed or insured by: (a) The United States; (b) A government-sponsored enterpris…

NRS 682A.520 Insurer investment pools. 1. An insurer may acquire investments in investment pools that invest only in: (a) Obligations that are rated 1 or 2 by the SVO or have an equivalent of an SVO 1 or 2 rating, or, in the absence of a 1 or 2 rating or equivalent rating, the is…

NRS 682A.522 Acquisition of equity interests generally permissible. Subject to the limitations of NRS 682A.512, 682A.514 and 682A.516, 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.524 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.522 to 682A.528, inclusive, if, as a result of and after giving effect to the investment, the aggregate am…

NRS 682A.526 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.522 to 682A.528, inclusive, any investments that the insurer may acquire in accordance with the provisions…

NRS 682A.528 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 instrument exercisable within 6 months after the short sale. (Added to…

NRS 682A.530 Tangible personal property under lease or other agreement. 1. Subject to the limitations of NRS 682A.512, 682A.514 and 682A.516, an insurer may acquire tangible personal property or equity interests therein located or used wholly or in part within a domestic jurisdic…

NRS 682A.532 Valuation of personal property under lease. The insurer shall compute the amount of each investment entered into in accordance with the provisions of NRS 682A.530 to 682A.538, inclusive, on the basis of the out-of-pocket purchase price and applicable related expenses…

NRS 682A.534 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.530 to 682A.538, inclusive, if, as a result of and after giving effect to the investment, the…

NRS 682A.536 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.512, 682A.514 and 682A.516, investments acquired by an insurer in acc…

NRS 682A.538 Exempted personal property under lease. Nothing in NRS 682A.530 to 682A.538, 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.540 Mortgage loans. 1. Subject to the limitations of NRS 682A.512, 682A.514 and 682A.516, an insurer may acquire, either directly, or indirectly through limited partnership interests and general partnership interests not otherwise prohibited by paragraph (d) of subsectio…

NRS 682A.542 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.544 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 filed office operat…

NRS 682A.546 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.540 if, as a result of and after giving effect to the investment, the aggregate amount of…

NRS 682A.548 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.550 Foreign investments. Subject to the limitations of NRS 682A.512, 682A.514 and 682A.516, an insurer may acquire foreign investments, or engage in investment practices with persons of, or in, foreign jurisdictions, of substantially the same types as those that an insur…

NRS 682A.552 Foreign currency exposure. 1. Subject to the limitations of NRS 682A.512, 682A.514 and 682A.516, 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.554 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.550 and 682A.552, an insurer that is authorized to do business…

NRS 682A.556 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.550 and 682A.552, an insurer that is not authorized to do …

NRS 682A.558 Calculation of foreign investments for purposes of determining compliance with limitations. Investments acquired in conformance with NRS 682A.550 to 682A.558, inclusive, must be aggregated with investments of the same types made under this chapter, and in a similar m…

NRS 682A.560 Derivative transactions. An insurer may, directly or indirectly through an investment subsidiary, engage in derivative transactions as described in NRS 682A.560 to 682A.568, inclusive, pursuant to the following conditions: 1. An insurer may use derivative instruments…

NRS 682A.562 Derivative transactions: Limitations on hedging transactions. An insurer may enter into hedging transactions under NRS 682A.560 to 682A.568, inclusive, if, as a result of and after giving effect to the transaction: 1. The aggregate statement value of options, caps, f…

NRS 682A.564 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.566 Derivative transactions: Counterparty exposure. An insurer shall include all counterparty exposure amounts in determining compliance with the limitations of NRS 682A.512, 682A.514 and 682A.516. (Added to NRS by 2015, 3463)

NRS 682A.568 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.570 Limited exemption from certain restrictions on investments. An insurer may acquire investments, or engage in investment practices, in accordance with the provisions of this section and NRS 682A.572, of any kind that are not specifically prohibited by this chapter, or…

NRS 682A.572 Quantitative limitation on exempted investments. An insurer shall not acquire any investment or engage in any investment practice in accordance with subsection 2 of NRS 682A.570 if, as a result of and after giving effect to the transaction, the aggregate amount of al…

NRS 682B.010 Authorized deposits. The following deposits of insurers when made through the Commissioner must be accepted and held by the Commissioner in trust, subject to the provisions of NRS 682B.010 to 682B.120, inclusive: 1. Deposits required under this Code for authority to …

NRS 682B.015 Additional deposit. 1. In addition to the deposits authorized by NRS 682B.010, the Commissioner may by regulation require as a condition of transacting the business of insurance in this state that a special deposit be maintained in this state by an authorized insurer…

NRS 682B.020 Purpose of deposit. 1. Deposits made in this state under NRS 680A.140 and 680A.330 (retaliatory provision) shall be held in trust for the respective purposes stated in those sections. 2. A deposit made in this state by a domestic insurer transacting insurance in anot…

NRS 682B.030 Securities eligible for deposit. 1. All such deposits required under NRS 680A.140 for authority to transact insurance in this state shall consist of good interest-bearing or dividend-paying securities of kinds eligible for investment of the funds of domestic insurers…

NRS 682B.040 Deposits through Commissioner required; exceptions; Account for the Division of Insurance; responsibilities of State. 1. Except as otherwise provided in NRS 682B.050 and 682B.055, deposits made in this state pursuant to this Code must be made through the Commissioner…

NRS 682B.050 Custodial arrangements. 1. In lieu of a deposit made as provided in NRS 682B.040, the Commissioner in his or her discretion may, upon written request of the insurer and where of greater convenience to the insurer, permit such deposit to be made with and held by the t…

NRS 682B.055 Use of securities as deposit without delivery to Commissioner. The Commissioner: 1. May allow an insurer to use securities as a deposit or as a part of a deposit without delivering the securities to the Commissioner under the conditions specified in regulations adopt…

NRS 682B.060 Assignment, transfer and conveyance of assets; release. 1. Except as provided in NRS 682B.055, an insurer shall assign to the Commissioner and the successors in office of the Commissioner in trust all securities being deposited with or through the Commissioner under …

NRS 682B.070 Appraisal. The Commissioner may, in his or her discretion, prior to acceptance for deposit of any particular asset or security, or at any time thereafter while so deposited, have the same appraised or valued by competent appraisers. The reasonable costs of any such a…

NRS 682B.080 Excess deposits. 1. If assets deposited by an insurer under NRS 682B.010 to 682B.120, inclusive, are subject to material fluctuations in market value, the Commissioner may, in his or her discretion, require the insurer to deposit and maintain on deposit additional as…