NRS 682A.464 Limited exemption from certain restrictions on investments.

164 words·~1 min read·/nv/chapter-682a-investments/682a-464

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

1. In addition to the authority provided in NRS 682A.462 , an insurer may acquire in accordance with this section an investment of any kind, or engage in investment practices described in NRS 682A.438 that are not specifically prohibited by the provisions of this chapter, without regard to the categories, conditions, standards or other limitations of NRS 682A.402 to 682A.448 , inclusive, if, as a result of and after giving effect to the transaction, the aggregate amount of investments held would not exceed the lesser of:

(a)Ten percent of its admitted assets; or

(b)Seventy-five percent of its capital and surplus.

2. An insurer shall not acquire any investment or engage in any investment practice in accordance with this section if, as a result of and after giving effect to the transaction, the aggregate amount of all investments in any one person held by the insurer would exceed 3 percent of its admitted assets.