reglab/housing_qa huggingface dataset:
NV Rev Stat § 688A.281 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.281 - Qualified charitable-gift annuity: Definitions.

As used in NRS 688A.281 to 688A.285, inclusive, unless the context otherwise requires:  1. "Charitable-gift annuity" means an annuity payable over one or two lives issued by a charitable organization in return for a transfer of money or property by the donor, if the actuarial value of the annuity is less than the value of the money or property transferred and a deduction as a charitable contribution is allowable for purposes of federal taxes.  2. "Charitable organization" means an artificial person described as such in section 501(c)(3) of the Internal Revenue Code of 1986, 26 U.S.C. § 501(c)(3), or section 170(c) of the Internal Revenue Code of 1986, 26 U.S.C. § 170(c).  3. "Qualified charitable-gift annuity" means a charitable-gift annuity described in section 501(m)(5) of the Internal Revenue Code of 1986, 26 U.S.C. § 501(m)(5), and section 514(c)(5) of the Internal Revenue Code of 1986, 26 U.S.C. § 514(c)(5), which is issued by a charitable organization that on the date of issuance:  (a) Owns at least $300,000 worth of money, cash equivalents or publicly traded securities, exclusive of the amount transferred to it in return for the annuity; and  (b) Has operated continuously for at least 3 years or is a successor or affiliate of a charitable organization that has operated continuously for at least 3 years.  The term does not include an annuity for which any person is paid compensation that is contingent upon the issuance of the annuity or based upon the value of the annuity other than a payment for reinsurance to an insurer licensed to issue insurance in this state.  (Added to NRS by 1999, 1950)
NV Rev Stat § 688A.282 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.282 - Qualified charitable-gift annuity: Issuance does not constitute transacting insurance.

The issuance of a qualified charitable-gift annuity does not constitute transacting insurance in this state. A charitable-gift annuity issued before October 1, 1999, is a qualified charitable-gift annuity for the purposes of NRS 688A.281 to 688A.285, inclusive.  (Added to NRS by 1999, 1951)
NV Rev Stat § 688A.283 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.283 - Qualified charitable-gift annuity: Contents and form of required disclosure.

In an agreement to issue a qualified charitable-gift annuity, the charitable organization shall disclose in writing to the donor that the annuity is not insurance under the laws of this state, is not subject to regulation by the Commissioner and is not protected by an insurance guaranty association. The disclosure must be made in a separate paragraph and may not be in a size of type smaller than used generally in the agreement.  (Added to NRS by 1999, 1951)
NV Rev Stat § 688A.284 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.284 - Qualified charitable-gift annuity: Required notice to Commissioner; contents of notice; further information.

  1. A charitable organization that issues qualified charitable-gift annuities shall notify the Commissioner in writing on or before December 30, 1999, or the expiration of 90 days after it first enters into an agreement to issue a qualified charitable-gift annuity, whichever is later. The notice must:  (a) Be signed by an officer or director of the organization;  (b) Identify the organization; and  (c) Certify that the organization is a charitable organization and that the annuities are qualified charitable-gift annuities.  2. Unless the Commissioner demands information to determine the amount of a penalty pursuant to NRS 688A.285, the organization need submit no other information.  (Added to NRS by 1999, 1951)
NV Rev Stat § 688A.285 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.285 - Qualified charitable-gift annuity: Effect of noncompliance; penalties.

  1. Failure of a charitable organization to comply with the requirements of NRS 688A.283 or 688A.284 for disclosure or notice, or both, does not disqualify an annuity that otherwise constitutes a qualified charitable-gift annuity.  2. The Commissioner may demand, by certified mail with return receipt requested, that the organization comply with those requirements, and may impose a fine of not more than $1,000 for each charitable-gift annuity issued before compliance is complete.  (Added to NRS by 1999, 1951)
NV Rev Stat § 688A.300 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.300 - Cash surrender value: Basic calculations.

  1. Any cash surrender value available under the policy in the event of default in a premium payment due on any policy anniversary, whether or not required by NRS 688A.290, must be an amount not less than the excess, if any, of the present value, on that anniversary, of the future guaranteed benefits which would have been provided for by the policy, including any existing paid-up additions, if there had been no default, over the sum of:  (a) The then present value of the adjusted premiums, as defined in NRS 688A.320 to 688A.340, inclusive, corresponding to premiums which would have fallen due on and after such anniversary; and  (b) The amount of any indebtedness to the insurer on the policy.  2. For any policy issued on or after the operative date of NRS 688A.325 which provides supplemental life insurance or annuity benefits at the option of the insured and for an identifiable additional premium by rider or supplemental policy provision, the cash surrender value referred to in subsection 1 of this section must be an amount not less than the sum of the cash surrender value for an otherwise similar policy issued at the same age without a rider or supplemental policy provision and the cash surrender value for a policy which provides only the benefits otherwise provided by a rider or supplemental policy provision.  3. For any family policy issued on or after the operative date of NRS 688A.325 which defines a primary insured and provides term insurance on the life of the spouse of the primary insured expiring before the spouse reaches age 71, the cash surrender value referred to in subsection 1 must be an amount not less than the sum of the cash surrender value for an otherwise similar policy issued at the same age without term insurance on the life of the spouse and the cash surrender value for a policy which provides only the benefits otherwise provided by term insurance on the life of the spouse.  4. Any cash surrender value available within 30 days after any policy anniversary under any policy paid up by completion of all premium payments or any policy continued under any paid-up nonforfeiture benefit, whether or not required by NRS 688A.290, must be an amount not less than the present value, on that anniversary, of the future guaranteed benefits provided for by the policy, including any existing paid-up additions, decreased by any indebtedness to the insurer on the policy.  (Added to NRS by 1971, 1736; A 1983, 952)
NV Rev Stat § 688A.310 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.310 - Paid-up nonforfeiture benefit.

Any paid-up nonforfeiture benefit available under the policy in the event of default in a premium payment due on any policy anniversary must be such that its present value as of the anniversary is at least equal to the cash surrender value then provided for by the policy or, if none is provided for, that cash surrender value which would have been required by NRS 688A.290 to 688A.360, inclusive, in the absence of the condition that premiums must have been paid for at least a specified period.  (Added to NRS by 1971, 1737; A 1983, 953)
NV Rev Stat § 688A.315 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.315 - Review of benefits and premiums for life insurance with future premium determination.

In the case of any plan of life insurance which provides for future premium determination, the amounts of which are to be determined by the insurer based on estimates of future experience, or in the case of any plan of life insurance which is of such a nature that minimum values cannot be determined by the methods described in NRS 688A.290 to 688A.340, inclusive:  1. The Commissioner must be satisfied that the benefits provided under the plan are substantially as favorable to policyholders and insureds as the minimum benefits otherwise required by NRS 688A.290 to 688A.340, inclusive;  2. The Commissioner must be satisfied that the benefits and the pattern of premiums of that plan are not such as to mislead prospective policyholders or insureds; and  3. The cash surrender values and paid-up nonforfeiture benefits provided by the plan must not be less than the minimum values and benefits required for the plan computed by a method consistent with the principles of the Standard Nonforfeiture Law for Life Insurance, as determined by regulations adopted by the Commissioner.  (Added to NRS by 1983, 948)
NV Rev Stat § 688A.330 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.330 - Basis for calculating adjusted premiums on industrial insurance; applicability of section.

  1. In the case of industrial policies issued on or after the operative date of this section, as provided in subsection 2, all adjusted premiums and present values referred to in NRS 688A.290 to 688A.360, inclusive, must be calculated on the basis of the Commissioners 1961 Standard Industrial Mortality Table and the rate of interest specified in the policy for calculating cash surrender values and paid-up nonforfeiture benefits, but that rate of interest must not exceed 3.5 percent per annum, or 4 percent per annum for policies issued on or after July 1, 1973, and before July 1, 1977, and a rate of interest not exceeding 5.5 percent per annum may be used for policies issued on or after July 1, 1977, other than single premium whole life or endowment insurance policies, and for the latter policies a rate of interest not exceeding 6.5 percent per annum may be used, except that:  (a) In calculating the present value of any paid-up term insurance with accompanying pure endowment, if any, offered as a nonforfeiture benefit, the rates of mortality assumed may be not more than those shown in the Commissioners 1961 Industrial Extended Term Insurance Table.  (b) For insurance issued on a substandard basis or a special underwriting basis, the calculations of any such adjusted premiums and present values may be based on such other table of mortality as may be specified by the insurer and approved by the Commissioner.  2. After July 1, 1963, any insurer may file with the Commissioner a written notice of its election to comply with the provisions of this section after a specified date before January 1, 1968. After the filing of a notice, upon the specified date, this section is operative with respect to the industrial policies thereafter issued by the insurer. If an insurer makes no such election, the operative date of this section for the insurer is January 1, 1968.  3. This section does not apply to policies issued on or after the operative date of NRS 688A.325.  (Added to NRS by 1971, 1738; A 1973, 723; 1977, 691; 1983, 954; 1995, 1627)
NV Rev Stat § 688A.340 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.340 - Basis for calculating adjusted premiums and present values on ordinary policies issued after operative date of this section; election to come under this section; operative date of this section as to insurer failing to make election.

  1. In the case of ordinary policies issued on or after the operative date of this section, all adjusted premiums and present values referred to in NRS 688A.290 to 688A.360, inclusive, must be calculated on the basis of the Commissioners 1958 Standard Ordinary Mortality Table and the rate of interest specified in the policy for calculating cash surrender values and paid-up nonforfeiture benefits, but the rate of interest must not exceed 3.5 percent per annum, or 4 percent per annum for policies issued on or after July 1, 1973, and before July 1, 1977, and a rate of interest not exceeding 5.5 percent per annum may be used for policies issued on or after July 1, 1977, other than single premium whole life or endowment insurance policies, and for the latter policies a rate of interest not exceeding 6.5 percent per annum may be used, except that:  (a) For any category of ordinary insurance issued on female risks, adjusted premiums and present values may be calculated according to an age not more than 6 years younger than the actual age of the insured.  (b) In calculating the present value of any paid-up term insurance with accompanying pure endowment, if any, offered as a nonforfeiture benefit, the rates of mortality assumed may be not more than those shown in the Commissioners 1958 Extended Term Insurance Table.  (c) The calculation of adjusted premiums and present values for insurance issued on a substandard basis may be based on such other table of mortality as may be specified by the insurer and approved by the Commissioner.  2. Any insurer may file with the Commissioner a written notice of its election to comply with the provisions of this section after a specified date before January 1, 1966. After the filing of the notice, this section becomes operative upon the specified date with respect to the ordinary policies thereafter issued by the insurer.  3. If an insurer makes no such election, the operative date of this section for the insurer is January 1, 1966.  4. This section does not apply to ordinary policies issued on or after the operative date of NRS 688A.325.  (Added to NRS by 1971, 1739; A 1973, 723; 1977, 692; 1983, 955)
NV Rev Stat § 688A.350 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.350 - Calculation of cash surrender value and paid-up nonforfeiture benefit.

  1. Any cash surrender value and any paid-up nonforfeiture benefit, available under the policy in the event of default in a premium payment due at any time other than on the policy anniversary, must be calculated with allowance for the lapse of time and the payment of fractional premiums beyond the last preceding policy anniversary.  2. All values referred to in NRS 688A.300 to 688A.340, inclusive, may be calculated upon the assumption that any death benefit is payable at the end of the policy year of death.  3. The net value of any paid-up additions, other than paid-up term additions, must not be less than the amounts used to provide the additions.  4. Notwithstanding the provisions of NRS 688A.300, additional benefits payable:  (a) In the event of death or dismemberment by accident or accidental means;  (b) In the event of total and permanent disability;  (c) As reversionary annuity or deferred reversionary annuity benefits;  (d) As term insurance benefits provided by a rider or supplemental policy provision to which, if issued as a separate policy, NRS 688A.290 to 688A.360, inclusive, would not apply;  (e) As term insurance on the life of a child or on the lives of children provided in a policy on the life of a parent of the child, if the term insurance expires before the child’s age is 26, is uniform in amount after the child’s age is 1, and has not become paid up by reason of the death of a parent of the child;  (f) As other policy benefits additional to life insurance and endowment benefits; and  (g) Premiums for all such additional benefits,  must be disregarded in ascertaining cash surrender values and nonforfeiture benefits required by NRS 688A.290 to 688A.360, inclusive, and no such additional benefits may be required to be included in any paid-up nonforfeiture benefits.  (Added to NRS by 1971, 1740; A 1983, 956)
NV Rev Stat § 688A.360 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.360 - Insurance to which NRS 688A.290 to 688A.360, inclusive, not applicable.

NRS 688A.290 to 688A.360, inclusive, do not apply to any:  1. Reinsurance, group insurance, pure endowment, annuity or reversionary annuity contract.  2. Term policy of uniform amount which provides no guaranteed nonforfeiture or endowment benefits, or the renewal thereof, of 20 years or less expiring before age 71, for which uniform premiums are payable during the entire term of the policy.  3. Term policy of decreasing amount which provides no guaranteed nonforfeiture or endowment benefits on which each adjusted premium, calculated as specified in NRS 688A.320 to 688A.340, inclusive, is less than the adjusted premium, calculated in the same manner, on a term policy of uniform amount, or a renewal thereof, which provides no guaranteed nonforfeiture or endowment benefits, issued at the same age and for the same initial amount of insurance and for a term of 20 years or less, expiring before age 71, for which uniform premiums are payable during the entire term of the policy.  4. Policy which provides no guaranteed nonforfeiture or endowment benefits, for which no cash surrender value, if any, or present value of any paid-up nonforfeiture benefit, at the beginning of any policy year, calculated as specified in NRS 688A.300 to 688A.340, inclusive, exceeds 2.5 percent of the amount of insurance at the beginning of the same policy year.  5. Policy which is delivered outside this state by an agent or other representative of the company issuing the policy.  For purposes of determining whether NRS 688A.290 to 688A.360, inclusive, apply, the age at expiration for a joint term policy of life insurance is the age of the oldest person at the time of expiration.  (Added to NRS by 1971, 1740; A 1983, 957)
NV Rev Stat § 688A.361 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.361 - Nonforfeiture provisions required in annuity contracts.

No contract of annuity may be delivered or issued for delivery in this state unless it contains in substance the following provisions, or corresponding provisions which in the opinion of the Commissioner are at least as favorable to the contract holder:  1. A statement that upon cessation of payment of considerations under a contract, or upon receipt of a written request submitted by an owner of a contract, the company will grant a paid-up annuity benefit on a plan stipulated in the contract of such value as is specified in NRS 688A.3631 to 688A.3637, inclusive, and 688A.366;  2. If a contract provides for a lump-sum settlement at maturity or any other time, a statement that upon surrender of the contract at or before the commencement of any annuity payments, the company will pay in lieu of any paid-up annuity benefit a cash surrender benefit of an amount specified in NRS 688A.3631, 688A.3633, 688A.3637 and 688A.366, and that the company may reserve the right to defer the payment of such cash surrender benefit for a period of not more than 6 months after demand therefor with surrender of the contract if the company submits a written request to and receives written approval for the deferral from the Commissioner. The request must address the necessity and equitability to all policyholders of the deferral;  3. A statement of the mortality table, if any, and interest rates used in calculating any minimum paid-up annuity, cash surrender or death benefits which are guaranteed under the contract, together with sufficient information to determine the amounts of those benefits; and  4. A statement that any paid-up annuity, cash surrender or death benefits which may be available under the contract are not less than the minimum benefits required by any statute of the state in which the contract is delivered and an explanation of the manner in which such benefits are altered by the existence of any additional amounts credited by the company to the contract, any indebtedness to the company on the contract or any prior withdrawals from or partial surrenders of the contract,  except that any deferred annuity contract may provide that if no considerations have been received under a contract for a period of 2 full years, and the portion of the paid-up annuity benefit at maturity on the plan stipulated in the contract arising from considerations paid before that period would be less than $20 monthly, the company may terminate the contract by payment in cash of the then present value of such portion of the paid-up annuity benefit, calculated on the basis of the mortality table, if any, and interest rate specified in the contract for determining the paid-up annuity benefit, and by such payment shall be relieved of any further obligation under the contract.  (Added to NRS by 1977, 688; A 1979, 86; 2003, 3315)
NV Rev Stat § 688A.363 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.363 - Minimum nonforfeiture amounts.

  1. The minimum values, specified in NRS 688A.3631 to 688A.3637, inclusive, and 688A.366, of any paid-up annuity, cash surrender or death benefits available under an annuity contract must be based upon minimum nonforfeiture amounts as defined in this section.  2. The minimum nonforfeiture amount for any time at or before the commencement of any annuity payments is equal to an accumulation of 87.5 percent of the gross considerations up to such time at a rate of interest calculated pursuant to subsection 3, which must be decreased by the sum of:  (a) Any prior withdrawals from or partial surrenders of the contract, accumulated at a rate of interest calculated pursuant to subsection 3;  (b) An annual charge in the amount of $50, accumulated at rates of interest calculated pursuant to subsection 3;  (c) Any premium tax paid by the company for the contract, accumulated at rates of interest calculated pursuant to subsection 3; and  (d) The amount of any indebtedness to the company on the contract, including interest due and accrued.  3. For the purpose of this section, the rate of interest used to determine the minimum nonforfeiture amounts must be an annual rate of interest determined as the lesser of 3 percent per annum or a rate specified in the contract if the rate is calculated in accordance with regulations adopted by the Commissioner, except that at no time may the resulting rate be less than 1 percent per annum.  4. The Commissioner may provide by regulation for further adjustments to the calculation of minimum nonforfeiture amounts for contracts that provide substantive participation in an equity index benefit or for other contracts that the Commissioner determines require adjustment. An adjustment to the calculation of the interest rate used to determine the minimum nonforfeiture amounts authorized under this subsection may not result in an interest rate of less than 1 percent per annum.  (Added to NRS by 1977, 688; A 2003, 3316; 2011, 3373)
NV Rev Stat § 688A.3631 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.3631 - Value of paid-up annuity benefits when benefit payments to commence.

Any paid-up annuity benefit available under a contract shall be such that its present value on the date when the annuity payments are to commence is at least equal to the minimum nonforfeiture amount on that date. Such present value shall be computed by using the mortality table, if any, and the interest rate specified in the contract for determining the minimum paid-up annuity benefits guaranteed in the contract.  (Added to NRS by 1977, 689)