reglab/housing_qa huggingface dataset:
NV Rev Stat § 692A.230 (2021)
2021 Nevada Revised Statutes|Chapter 692A - Title Insurance|NRS 692A.230 - Title plant companies.

  1. No person may engage in business as a title plant company unless the person has been granted a license to do so by the Commissioner.  2. An applicant for a license to conduct business as a title plant company shall submit as part of his or her application:  (a) A copy of the proposed articles of incorporation or association and bylaws, or the partnership agreement, which will govern the operation of the business.  (b) A list of the owners or participants and the nature and degree of their interest.  (c) A list of the persons who will operate the business, and their addresses and qualifications, including experience.  (d) The conditions under which ownership or participation in the business may be sold or acquired.  (e) A statement of whether or not title information will be compiled for persons other than owners or participants in the business.  (f) A pro forma balance sheet and other financial information to indicate the sufficiency of financing of the business.  (g) Other information which the Commissioner requires.  (h) A fee of $10.  3. If the Commissioner finds that:  (a) The business of the applicant will be sufficiently financed;  (b) The persons who will be operating the business are qualified;  (c) The rules of operation expressed in the articles of incorporation or association and the bylaws, or in the partnership agreement, will promote the efficiency of the operation of the owners or participants; and  (d) The operation of the business will not unduly restrict competition, the Commissioner may issue a license to the applicant and permit organization of the business.  4. A license issued under this section is valid for a period of 1 year, and may be renewed by the submission of any information which the Commissioner requires and a fee of $10.  5. A license issued under this section may be suspended or revoked by the Commissioner if:  (a) The licensee ceases to operate in a manner set forth in its approved application.  (b) In the opinion of the Commissioner, the operation of the business has become a restraint on competition or is not in the best interests of the public.  (c) The licensee has not informed the Commissioner promptly of each change in conditions set forth in its application.  6. The Commissioner shall give written notice to any licensee whose license the Commissioner intends to suspend or revoke, and the licensee shall be granted a hearing if the licensee requests it in writing within 15 days after the receipt of the notice from the Commissioner. A decision of the Commissioner after hearing is final administrative action.  7. This section does not apply to any person licensed under the provisions of this chapter engaged in the business of a title plant company when the operation is not in concert with others.  (Added to NRS by 1977, 982)
NV Rev Stat § 692A.240 (2021)
2021 Nevada Revised Statutes|Chapter 692A - Title Insurance|NRS 692A.240 - License as title insurer, title agent, escrow officer, escrow agent or escrow agency required to engage in business of administering escrows.

It is unlawful for any person to engage in or carry on, or hold himself or herself out as engaging in or carrying on, the business of administering escrows without first obtaining a license as a title insurer, title agent or escrow officer issued pursuant to this title or as an escrow agent or escrow agency issued pursuant to chapter 645A of NRS.  (Added to NRS by 1985, 1826)
NV Rev Stat § 692A.250 (2021)
2021 Nevada Revised Statutes|Chapter 692A - Title Insurance|NRS 692A.250 - Money deposited in escrow: Exemption from execution; designation; permissible depository; Commissioner to define "commingling."

  1. Money deposited in escrow is not subject to execution or attachment on any claim against the title insurer, title agent or escrow officer.  2. A title insurer, title agent or escrow officer shall not knowingly keep or cause to be kept any money in any bank, credit union or other financial institution under any name designating the money as belonging to the clients of the title insurer, title agent or escrow officer or those of another such person unless the money was actually entrusted to the title insurer, title agent or escrow officer for deposit in escrow.  3. All money deposited in escrow to be delivered upon the close of the escrow or upon any other contingency must be kept separate from money belonging to the title insurer, title agent or escrow officer and must be deposited in a financial institution that is federally insured or insured by a private insurer approved pursuant to NRS 672.755 unless another financial institution has been designated in writing in the instructions for the escrow. The money when deposited must be designated as "trust funds" or "escrow accounts" or under some other appropriate name indicating that the money is not the money of the title insurer, title agent or escrow officer.  4. The Commissioner shall adopt regulations defining the term "commingling" for the purposes of this chapter and prescribing acceptable business practices for title agents and escrow officers for handling money deposited in escrow.  (Added to NRS by 1985, 1825; A 1999, 1552)
NV Rev Stat § 692A.255 (2021)
2021 Nevada Revised Statutes|Chapter 692A - Title Insurance|NRS 692A.255 - Money deposited in escrow: Disbursement; disbursement on same business day allowed for certain forms of deposit; compliance with federal laws and regulations.

  1. A title insurer, title agent or escrow officer shall not disburse money from an escrow account unless deposits which are at least equal in value to the proposed disbursements and which relate directly to the transaction for which the money is to be disbursed have been received.  2. A title insurer, title agent or escrow officer shall not disburse money from an escrow account on the same business day as the money is deposited unless the deposit is made in one of the following forms:  (a) Cash;  (b) Interbank electronic transfer such that the money deposited is available for immediate withdrawal without condition and payable in United States currency;  (c) Negotiable order of withdrawal, money order, cashier’s check or certified check which is drawn from a financial institution authorized to do business in this State;  (d) Any depository check, including any cashier’s check or teller’s check, that is governed by the Expedited Funds Availability Act, 12 U.S.C. §§ 4001 et seq.; or  (e) Any other form that permits conversion of the deposit to cash on the same day as the deposit is made.  3. A title insurer, title agent or escrow officer who disburses money from an escrow account pursuant to this section on the next business day after the day on which the money is deposited shall comply with all applicable federal laws or regulations with respect to the disbursement of money accorded next-day availability that is deposited in an escrow account.  (Added to NRS by 2011, 382; A 2013, 1371)
NV Rev Stat § 692A.260 (2021)
2021 Nevada Revised Statutes|Chapter 692A - Title Insurance|NRS 692A.260 - Records of escrow transactions and financial condition; making and filing of statement of business.

Each title insurer and title agent shall keep at all times in his or her principal place of business or branch office complete and suitable records of all escrow transactions made by him or her, together with books, papers and data clearly reflecting the financial condition of his or her business. Each title insurer and title agent shall, at the times required by the Commissioner, make and file with the Division a correct statement of his or her business in the form and containing the data the Commissioner may require.  (Added to NRS by 1985, 1825; A 1991, 1633; 1993, 1921)
NV Rev Stat § 692A.270 (2021)
2021 Nevada Revised Statutes|Chapter 692A - Title Insurance|NRS 692A.270 - Applicability of other provisions to title insurers, title agents and escrow officers.

The provisions of NRS 683A.321, 683A.331, 683A.341, 683A.400, 683A.451 to 683A.490, inclusive, and 683A.520 apply to title insurers, title agents and escrow officers.  (Added to NRS by 1985, 1825; A 1991, 1860; 2001, 2228; 2007, 3328)
NV Rev Stat § 692B.010 (2021)
2021 Nevada Revised Statutes|Chapter 692B - Formation and Capitalization of Domestic Stock and Mutual Insurers; Financing of Insurers and Holding Companies|NRS 692B.010 - Scope.

This chapter applies to the formation, after January 1, 1972, of domestic stock and mutual insurers, to the capitalization of domestic stock insurers, and to the financing of domestic insurers of all types and of insurance holding corporations thereof.  (Added to NRS by 1971, 1782)
NV Rev Stat § 692B.020 (2021)
2021 Nevada Revised Statutes|Chapter 692B - Formation and Capitalization of Domestic Stock and Mutual Insurers; Financing of Insurers and Holding Companies|NRS 692B.020 - Incorporation.

  1. The general corporation laws of this state govern the incorporation of domestic stock and mutual insurers formed after January 1, 1972, where not in conflict with the express provisions of this Code. In case of such conflict the express provisions of this Code govern.  2. A domestic insurer must be incorporated by not less than three natural persons. The articles of incorporation must set forth the name and residence address of each of the true incorporators, and dummy incorporators must not be used.  3. The articles of incorporation must also set forth:  (a) The names and addresses of each proposed director or officer who is not an incorporator;  (b) The kind or kinds of insurance proposed to be transacted, in accordance with the definitions thereof contained in NRS 681A.010 to 681A.080, inclusive;  (c) If to be a stock insurer, the amount of authorized capital, the number of shares into which divided, and the par value of each share, which par value must not be less than $1. Shares without nominal or par value must not be authorized. All authorized shares must be of one class, with one vote per outstanding share and equal rights between outstanding shares as to dividends and distributions, and in all other respects; and  (d) If to be a mutual insurer, the contingent liability of policyholders for payment of losses and expenses of the insurer, which liability must not be less than one or more than six times the policyholder’s premium at the annual rate for a term of 1 year, as specified in the articles of incorporation. Such contingent liability may be rendered inoperative pursuant to the provisions of NRS 693A.250.  4. The articles of incorporation of a proposed stock insurer must require that all shares be issued at a price not less than par value, and must not provide for stock options.  (Added to NRS by 1971, 1782; A 1991, 2204)
NV Rev Stat § 692B.030 (2021)
2021 Nevada Revised Statutes|Chapter 692B - Formation and Capitalization of Domestic Stock and Mutual Insurers; Financing of Insurers and Holding Companies|NRS 692B.030 - Amendment of articles of incorporation; approval of Commissioner; applicability to existing insurers.

  1. An amendment of articles of incorporation of a domestic insurer shall not be filed or accepted for filing with the Secretary of State unless first submitted to and approved by the Commissioner.  2. The insurer shall deliver executed quadruplicate originals of the proposed articles of amendment to the Commissioner. If the Commissioner finds the same to be in accordance with law, the Commissioner shall endorse his or her approval on each set of the articles of amendment and return the same to the insurer. The insurer shall then file the original set with the Secretary of State, one set with the Commissioner, and otherwise as required by law. If the Commissioner does not so find, the Commissioner shall not approve the proposed articles of amendment, but shall return all sets to the insurer together with a written statement of the reasons for nonapproval.  3. After January 1, 1972, no existing domestic stock or mutual insurer shall amend its articles of incorporation in any way which would conflict with the requirements of this Code as to a newly formed similar domestic insurer; but an existing domestic stock insurer with preferred stock already as part of its authorized capital shall have the right to increase or decrease the amount of the same or modify the rights and priorities thereof as otherwise permitted by law.  (Added to NRS by 1971, 1783)
NV Rev Stat § 692B.040 (2021)
2021 Nevada Revised Statutes|Chapter 692B - Formation and Capitalization of Domestic Stock and Mutual Insurers; Financing of Insurers and Holding Companies|NRS 692B.040 - Solicitation permit required; penalty.

  1. A person forming or proposing to form a domestic insurer, or insurance holding corporation thereof, or corporation to be attorney-in-fact for a domestic reciprocal insurer, or proposing to secure funds for the formation or financing of a domestic insurer, or production of insurance business therefor, or for an insurance holding corporation holding or proposing to hold securities of a domestic insurer, or for an attorney-in-fact corporation of a domestic reciprocal insurer, or for the formation or financing of a syndicate, association, firm, partnership or organization for any such purposes, shall not in this state advertise or offer for sale any securities or policies, or solicit or receive any funds, subscriptions, applications, premiums or memberships, except as authorized by a currently effective permit, in this chapter sometimes referred to as a "solicitation permit," issued by the Commissioner.  2. A person who violates the provisions of this section is guilty of a category D felony and shall be punished as provided in NRS 193.130.  (Added to NRS by 1971, 1783; A 1979, 1492; 1995, 1319)
NV Rev Stat § 692B.050 (2021)
2021 Nevada Revised Statutes|Chapter 692B - Formation and Capitalization of Domestic Stock and Mutual Insurers; Financing of Insurers and Holding Companies|NRS 692B.050 - "Insurance holding corporation" defined; Massachusetts trusts.

  1. As used in this Code, an insurance holding corporation is a corporation, whether or not incorporated under the laws of this state, owning or holding, or proposing to own or hold, a controlling stock interest in a domestic stock insurer. Shares owned directly or indirectly by the corporation or by its subsidiary or affiliate corporation, firm or organization, or by its officers, directors or principal stockholders, shall be deemed to be owned or held by the corporation for the purposes of this section.  2. For the purposes of this chapter that type of organization known as a "Massachusetts trust" shall be deemed to be a corporation.  (Added to NRS by 1971, 1784)
NV Rev Stat § 692B.060 (2021)
2021 Nevada Revised Statutes|Chapter 692B - Formation and Capitalization of Domestic Stock and Mutual Insurers; Financing of Insurers and Holding Companies|NRS 692B.060 - Exemptions.

NRS 692B.040 does not apply to:  1. Sales of securities not involving a public offering, and under a plan filed with and not disapproved by the Commissioner; that is, sales on which no commission or other compensation is payable resulting from offers privately made to not over 20 persons (other than banks, savings associations, investment companies registered as such under the Investment Company Act of 1940, registered securities dealers, investment houses and other financial institutions) within a 12-month period, and where all persons (including such banks, associations, companies, dealers, houses and institutions) so acquiring such securities do so for investment purposes only and not with a view to further distribution. The Commissioner shall disapprove any such plan within 10 days after filing, or within such reasonable additional period as the Commissioner may request within such 10 days, if found by the Commissioner to be:  (a) Unfair to any existing or proposed other holders of securities of the insurer; or  (b) Unlawful.  2. Sales of securities by an insurance holding corporation for purposes which do not include the financing, directly or indirectly, of a domestic insurer.  3. Stock of the insurer or insurance holding corporation to be offered and sold (without payment of commission thereon) exclusively to directors, employees and agents of the insurer or corporation, or any of them, under stock options granted pursuant to a written lawful plan therefor adopted by the board of directors, approved by a majority of the stock of the issuer corporation having voting rights, and filed with and approved by the Commissioner. The Commissioner shall approve such a plan unless found by the Commissioner to be inequitable to other personnel of the insurer or other persons financially interested in the insurer.  4. Securities issued or proposed to be issued pursuant to any merger, consolidation, bulk reinsurance, conversion, mutualization or corporate affiliation approved by the Commissioner pursuant to chapter 693A of NRS.  5. Securities issued in exchange for outstanding securities of the issuer, or partly in exchange for such outstanding securities and partly for cash, in connection with a recapitalization of the issuer or the exercise of conversion or exchange rights under such outstanding securities.  6. Securities issued and distributed to existing holders of securities of the insurer as a dividend paid in securities.  7. Fractional share interests in stock of the issuer offered and sold for the purpose of rounding out to whole shares in connection with any stock dividend or other distribution of shares to existing security holders of the issuer.  (Added to NRS by 1971, 1784)
NV Rev Stat § 692B.080 (2021)
2021 Nevada Revised Statutes|Chapter 692B - Formation and Capitalization of Domestic Stock and Mutual Insurers; Financing of Insurers and Holding Companies|NRS 692B.080 - Application for permit to solicit qualifying mutual applications.

Written application for any permit required under NRS 692B.040 in connection with the formation of a domestic mutual insurer by the securing of qualifying applications for insurance as provided in NRS 692B.200 shall be filed with the Commissioner. The application shall contain such information and be accompanied by such of the documents and the fees required under NRS 692B.070 as may be applicable, and in addition shall be accompanied by:  1. A copy of each policy for which applications are proposed to be solicited;  2. A copy of the proposed insurance application form, consistent with the requirements of NRS 692B.220 (qualifying applications for insurance); and  3. A schedule of the premiums or premium rates proposed to be charged in connection with such insurance applications.  (Added to NRS by 1971, 1786)
NV Rev Stat § 692B.090 (2021)
2021 Nevada Revised Statutes|Chapter 692B - Formation and Capitalization of Domestic Stock and Mutual Insurers; Financing of Insurers and Holding Companies|NRS 692B.090 - Investigation.

  1. Upon completion of the application for a permit under NRS 692B.070 and 692B.080, the Commissioner shall promptly cause an investigation to be made of:  (a) The identity, character, reputation, experience, financial standing and motives of the persons proposing to organize, promote or finance the insurer or organization;  (b) The character, financial responsibility, insurance management experience and business qualifications of the officers, directors and managers of the insurer or organization existing or proposed; and  (c) Such other aspects of the insurer, organization or proposed financing as the Commissioner deems advisable.  2. The Commissioner may, in the Commissioner’s discretion, waive investigation with respect to the further financing of a domestic insurer already duly authorized to transact insurance in this state.  (Added to NRS by 1971, 1786)
NV Rev Stat § 692B.100 (2021)
2021 Nevada Revised Statutes|Chapter 692B - Formation and Capitalization of Domestic Stock and Mutual Insurers; Financing of Insurers and Holding Companies|NRS 692B.100 - Granting or denial of permit.

  1. The Commissioner shall expeditiously examine an application for a solicitation permit and complete the investigation as called for. Subject to subsection 2, if the Commissioner finds on such examination and investigation that:  (a) The application is complete;  (b) The documents therewith filed are proper in form; and  (c) The proposed financing is reasonable and adequate in amount for the purposes intended and the applicant is otherwise entitled to the permit,  the Commissioner shall give notice to the applicant that the Commissioner will issue the permit upon the filing of any bond required by NRS 692B.150 or 692B.210, or deposit in lieu thereof, and the filing of an executed copy of any escrow agreement required in connection therewith. If quadruplicate executed originals of articles of incorporation of a proposed domestic stock or mutual insurer have been filed with the Commissioner as required under paragraph (d) of subsection 1 of NRS 692B.070, the Commissioner shall inscribe the approval of the Commissioner on each copy thereof and return them to the applicant for filing with the Secretary of State and otherwise as required by law.  2. If the Commissioner does not so find, or finds that:  (a) The proposed sale of securities would be or tend to be unfair or inequitable as to present or proposed security holders or investors;  (b) Any of the individuals associated or to be associated in the insurer, corporation, syndicate, association, firm, organization or financing are not of good reputation as to business affairs or financial responsibility;  (c) The proposed insurer would not be able to qualify for a certificate of authority in this state by virtue of the provisions of subsection 2 of NRS 680A.090 (ownership, management);  (d) If an insurance holding corporation, its plan of capitalization or security options, or financing are such as would be prohibited under this Code as to a newly formed domestic stock insurer; or  (e) There is material variance, adverse to the applicant, as between the information furnished by the applicant in connection with the application and that determined by the Commissioner on investigation,  the Commissioner shall give notice to the applicant that a permit will not be granted, stating the particulars of the grounds for such denial, and refund to the applicant all sums deposited in connection with the application other than the fee for the filing of the application.  (Added to NRS by 1971, 1787)
NV Rev Stat § 692B.120 (2021)
2021 Nevada Revised Statutes|Chapter 692B - Formation and Capitalization of Domestic Stock and Mutual Insurers; Financing of Insurers and Holding Companies|NRS 692B.120 - Permit as inducement.

  1. The granting of a solicitation permit is permissive only and shall not constitute an endorsement by the Commissioner of any person or thing related to any such insurer, corporation, syndicate, association, firm, organization or financing, or constitute evidence of the completeness or accuracy of information presented in any prospectus or other sales literature. The existence of the permit shall not be advertised or used as an inducement in any solicitation.  2. The Commissioner shall place the substance of this section in conspicuous type at the top of each such permit issued.  (Added to NRS by 1971, 1789)