Any domestic insurer, either by itself or in cooperation with one or more persons, may organize or acquire one or more subsidiaries. Such subsidiaries may conduct any kind of business or businesses and their authority to do so shall not be limited by reason of the fact that they are subsidiaries of a domestic insurer. […]
In addition to making investments in common stock, preferred stock, debt obligations and other securities permitted under chapter 682A of NRS, a domestic insurer may invest: 1. In common stock, preferred stock, debt obligations and other securities of one or more subsidiaries, amounts which do not exceed the lesser of 10 percent of the insurer’s […]
Investments in common stock, preferred stock, debt obligations or other securities of subsidiaries made pursuant to NRS 692C.140 shall not be subject to any of the otherwise applicable restrictions or prohibitions contained in this chapter which are applicable to such investments. (Added to NRS by 1973, 1039)
Whether or not any investment made pursuant to NRS 692C.140 meets the applicable requirements thereof is to be determined before such investment is made by calculating the applicable investment limitations as though the investment has already been made, taking into account the then outstanding principal balance on all previous investments in debt obligations, the value […]
If an insurer ceases to control a subsidiary, it shall dispose of any investment therein made pursuant to NRS 692C.140 within 3 years from the time of the cessation of control or within such further time as the Commissioner may prescribe, unless any such investment shall have met the requirements for investment under any other […]
1. No person other than the issuer may make a tender for or a request or invitation for tenders of, or enter into any agreement to exchange securities for, seek to acquire or acquire in the open market or otherwise, any voting security of a domestic insurer if, after the consummation thereof, the person would […]
The pre-acquisition statement to be filed with the Commissioner hereunder shall be made under oath or affirmation and shall contain the following: 1. The name and address of each person (hereinafter called the “acquiring party”) by whom or on whose behalf the merger or other acquisition of control referred to in subsection 1 of NRS […]
If any offer, request, invitation, agreement or acquisition referred to in subsection 1 of NRS 692C.180 is proposed to be made by means of a registration statement under the Securities Act of 1933, 15 U.S.C. §§ 77a to 77aa, inclusive, or in circumstances requiring the disclosure of similar information under the Securities Exchange Act of […]
1. Except as otherwise provided in subsections 5 and 7, the Commissioner shall approve any merger or other acquisition of control referred to in subsection 1 of NRS 692C.180 unless, after a public hearing thereon, the Commissioner finds that: (a) After the change of control, the domestic insurer specified in subsection 1 of NRS 692C.180 […]
All statements, amendments or other material filed pursuant to NRS 692C.180 and 692C.190 and all notices of public hearings held pursuant to NRS 692C.210 shall be mailed by the insurer to its shareholders within 5 business days after the insurer has received such statements, amendments, other material or notices. The expenses of mailing shall be […]
The provisions of NRS 692C.180 to 692C.250, inclusive, do not apply to: 1. A transaction which is subject to the provisions of NRS 693A.290 to 693A.370, inclusive, dealing with the merger or consolidation of two or more insurers. 2. Any offer, request, invitation, agreement or acquisition which the Commissioner by order exempts therefrom as not […]
The following shall be violations of NRS 692C.180 to 692C.250, inclusive: 1. The failure to file any statement, amendment or other material required to be filed pursuant to NRS 692C.180 or 692C.190; or 2. The effectuation or any attempt to effectuate an acquisition of control of, or merger with, a domestic insurer unless the Commissioner […]
1. The courts of this state are hereby vested with jurisdiction over every person not resident, domiciled or authorized to do business in this state who files a statement with the Commissioner under NRS 692C.180 to 692C.250, inclusive, and over all actions involving such person arising out of violations of such sections. 2. Each such […]
