NRS 682A.516 Canadian investments.

185 words·~1 min read·/nv/chapter-682a-investments/682a-516

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

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 these investments held by the insurer would exceed 40 percent of its admitted assets, or if the aggregate amount of Canadian investments not acquired in accordance with paragraph

(c)or

(d)of subsection 1 of NRS 682A.518 held by the insurer would exceed 25 percent of its admitted assets.

2. As to an insurer that is authorized to do business in Canada or that has outstanding insurance, annuity or reinsurance contracts on lives or risks resident or located in Canada and denominated in Canadian currency, the limitations in subsection 1 must be increased by the greater of:

(a)The amount the insurer is required by Canadian law to invest in Canada or to be denominated in Canadian currency; or

(b)One hundred twenty-five percent of the amount of its reserves and other obligations under contracts on risks resident or located in Canada.