Nev. Rev. Stat. § 682A.462

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1

Section 682A.462 - Limited exemption from quantitative limits on certain investments

Solely for the purpose of acquiring investments that exceed the quantitative limitations of NRS 682A.402 to 682A.448, inclusive, an insurer may acquire in accordance with this section an investment, or engage in investment practices described in NRS 682A.438, but an insurer shall not acquire an investment or engage in investment practices described in NRS 682A.438 in accordance with this section if, as a result of and after giving effect to the transaction:

1. The aggregate amount of investments held by the insurer would exceed 3 percent of its admitted assets; or

2. The aggregate amount of investments as to one limitation in NRS 682A.402 to 682A.448, inclusive, held by the insurer would exceed 1 percent of its admitted assets.

NRS 682A.462

Added to NRS by 2015, 3447

Added by 2015, Ch. 522,§190, eff. 7/1/2015.