Nev. Rev. Stat. § 693A.575

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

Section 693A.575 - Procedure for reorganization

A domestic mutual insurer may, by complying with NRS 693A.550 to 693A.665, inclusive, and obtaining the approval of the Commissioner, reorganize by:

1. Merging the membership interests of its policyholders into:

(a) A mutual insurance holding company formed for the purpose of the reorganization; or

(b) An existing mutual insurance holding company; and

2. Continuing the corporate existence of the mutual insurer as a stock insurer subsidiary of the mutual insurance holding company.

NRS 693A.575

Added to NRS by 2001, 2241