NRS 682A.053 “Covered” defined.
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/nv/chapter-682a-investments/682a-053A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
NRS 682A.053 “Covered” defined. “Covered” means that an insurer owns or can immediately acquire, through the exercise of options, warrants or conversion rights already owned, the underlying interest to fulfill or secure its obligations under a call option, cap or floor it has written, or has set aside in accordance with a custodial or escrow agreement, cash or cash equivalents with a market value equal to the amount required to fulfill its obligations in accordance with a put option it has written, in an income generation transaction.