NRS 682A.434 Real estate for accommodation of business operations.

211 words·~1 min read·/nv/chapter-682a-investments/682a-434

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

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 operations.

2. Real estate acquired as described in this section may include excess space for rent to others, if the excess space, valued at its fair market value, would otherwise be an allowed investment in accordance with the provisions of NRS 682A.432 and is so qualified by the insurer.

3. The real estate acquired as described in this section may be subject to one or more mortgages, liens or other encumbrances, the amount of which must, to the extent that the obligations secured by the mortgages, liens or encumbrances are without recourse to the insurer, be deducted from the amount of the investment of the insurer in the real estate for purposes of determining compliance with subsection 4 of NRS 682A.436 .

4. For the purposes of this section, business operations must not include that portion of real estate used for the direct provision of health care services by an accident and health insurer for its insureds. An insurer may acquire real estate used for these purposes under NRS 682A.432 .