NRS 682A.466 Additional exemption from certain investment limitations with approval of Commissioner.
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NRS 682A.466 Additional exemption from certain investment limitations with approval of Commissioner. In addition to the investments acquired as described in NRS 682A.462 and 682A.464 , 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 any limitations of NRS 682A.402 to 682A.448 , inclusive, if:
1. The Commissioner grants prior approval;
2. The insurer demonstrates that its investments are being made in a prudent manner and that the additional amounts will be invested in a prudent manner; and
3. As a result of and after giving effect to the transaction the aggregate amount of investments held by the insurer is not greater than:
(a)Twenty-five percent of its capital and surplus; or
(b)One hundred percent of capital and surplus less 10 percent of its admitted assets.