reglab/housing_qa huggingface dataset:
NV Rev Stat § 682A.315 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.315 - Limitation on time for admitted asset acquired by exemption.

  1. An investment, or portion of an investment, acquired by an insurer in accordance with NRS 682A.310 becomes a nonadmitted asset 3 years, or 5 years in the case of mortgage loans and real estate, after the date of its acquisition, unless within that period the investment has become a qualified investment in accordance with a provision of this chapter, other than NRS 682A.310, but an investment acquired in accordance with an agreement of bulk reinsurance, merger or consolidation may be qualified for a longer period if so provided in the plan for reinsurance, merger or consolidation as approved by the Commissioner.  2. Upon application by the insurer, and a showing that the nonadmission of an asset held in accordance with NRS 682A.310 would materially injure the interests of the insurer, the Commissioner may extend the period of admissibility for an additional reasonable period of time.  (Added to NRS by 2015, 3429)
NV Rev Stat § 682A.320 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.320 - Qualification of investment based on date of acquisition or date of commitment to acquire.

Except as otherwise provided in NRS 682A.325 and 682A.335, an investment shall be deemed to qualify pursuant to this chapter if, on the date the insurer committed to acquire the investment or on the date of its acquisition, it would have qualified pursuant to this chapter. For the purposes of determining limitations contained in this chapter, an insurer shall give appropriate recognition to any commitments to acquire investments.  (Added to NRS by 2015, 3429)
NV Rev Stat § 682A.325 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.325 - Applicability of law to admitted assets or certain transactions held or entered on or before July 1, 2015.

  1. An investment, held as an admitted asset by an insurer on July 1, 2015, which qualified pursuant to this chapter before July 1, 2015, shall be deemed to remain qualified as an admitted asset pursuant to this chapter.  2. Each specific transaction constituting an investment practice of the type described in this chapter that was lawfully entered into by an insurer, and was in effect on July 1, 2015, must continue to be allowed in accordance with the provisions of this chapter until its expiration or termination in accordance with its terms.  (Added to NRS by 2015, 3429)
NV Rev Stat § 682A.330 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.330 - Computation of limitations based on admitted assets.

Unless otherwise specified, an investment limitation computed on the basis of an insurer’s admitted assets or capital and surplus shall relate to the amount required to be shown on the statutory balance sheet of the insurer most recently required to be filed with the Commissioner. For purposes of computing any limitation based on admitted assets, the insurer shall deduct from the amount of its admitted assets the amount of the liability recorded on its statutory balance sheet for:  1. The return of acceptable collateral received in a reverse repurchase transaction or a securities lending transaction;  2. Cash received in a dollar roll transaction; and  3. The amount reported as borrowed money in the most recently filed financial statement to the extent not included in subsections 1 and 2.  (Added to NRS by 2015, 3429)
NV Rev Stat § 682A.335 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.335 - Qualification or requalification of admitted asset on or after date of acquisition.

An investment qualified, in whole or in part, for acquisition or holding as an admitted asset may be qualified or requalified at the time of acquisition or a later date, in whole or in part, in accordance with any section of this chapter if the relevant conditions contained in that section are satisfied at the time of qualification or requalification.  (Added to NRS by 2015, 3430)
NV Rev Stat § 682A.340 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.340 - Required documentation of acquisition.

An insurer shall maintain documentation demonstrating that investments were acquired in accordance with the provisions of this chapter, and specifying the section of this chapter pursuant to which they were acquired.  (Added to NRS by 2015, 3430)
NV Rev Stat § 682A.345 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.345 - Agreements to purchase securities in advance of issuance prohibited.

An insurer shall not enter into an agreement to purchase securities in advance of their issuance for resale to the public as part of a distribution of the securities by the issuer, or otherwise guarantee the distribution, except that an insurer may acquire privately placed securities with registration rights.  (Added to NRS by 2015, 3430)
NV Rev Stat § 682A.350 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.350 - Order by Commissioner to alter investment practice.

Notwithstanding the provisions of this chapter, the Commissioner, for good cause, may, in accordance with the provisions of chapter 233B of NRS, order an insurer to nonadmit, limit, dispose of, withdraw from or discontinue an investment or investment practice. The authority of the Commissioner pursuant to this section is in addition to any other authority of the Commissioner.  (Added to NRS by 2015, 3430)
NV Rev Stat § 682A.355 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.355 - Insurance futures and insurance future options.

Insurance futures and insurance future options are not considered investments or investment practices for the purposes of this chapter.  (Added to NRS by 2015, 3430)
NV Rev Stat § 682A.365 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.365 - Adoption by board of written plan for investments.

An insurer’s board of directors shall adopt a written plan for acquiring and holding investments and for engaging in investment practices that specifies guidelines as to the quality, maturity and diversification of investments and other specifications, including, without limitation, investment strategies intended to ensure that the investments and investment practices are appropriate for the business conducted by the insurer, its liquidity needs and its capital and surplus. The board of directors shall review and assess the insurer’s technical investment and administrative capabilities and expertise before adopting a written plan concerning an investment strategy or practice.  (Added to NRS by 2015, 3430)
NV Rev Stat § 682A.367 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.367 - Supervision and direction of board; formal resolution of board regarding investments.

Investments acquired and held pursuant to this chapter must be acquired and held under the supervision and direction of the board of directors of the insurer. The board of directors shall evidence by formal resolution, at least annually, that it has determined whether all investments have been made in accordance with delegations, standards, limitations and investment objectives prescribed by the board or a committee of the board charged with the responsibility to direct the insurer’s investments.  (Added to NRS by 2015, 3430)
NV Rev Stat § 682A.369 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.369 - Quarterly review of investments and written plan for investments.

On no less than a quarterly basis, and more often if deemed appropriate, an insurer’s board of directors or a committee of the board shall:  1. Receive and review a summary report on the insurer’s investment portfolio, its investment activities and practices engaged in pursuant to delegated authority, in order to determine whether the investment activity or practice of the insurer is consistent with its written plan; and  2. Review and revise, as appropriate, the written plan.  (Added to NRS by 2015, 3430)
NV Rev Stat § 682A.371 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.371 - Availability of documentation to board.

In discharging its duties pursuant to NRS 682A.365 to 682A.375, inclusive, the board of directors shall require that the records of any authorizations or approvals, other documentation as the board may require and reports of any action taken pursuant to authority delegated in accordance with the written plan referred to in NRS 682A.365 be made available on a regular basis to the board of directors.  (Added to NRS by 2015, 3431)
NV Rev Stat § 682A.373 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.373 - Standard of care.

In discharging its duties pursuant to NRS 682A.365 to 682A.375, inclusive, the board of directors of an insurer shall perform its duties in good faith and with that degree of care that ordinarily prudent individuals in like positions would use under similar circumstances.  (Added to NRS by 2015, 3431)
NV Rev Stat § 682A.375 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.375 - "Board of directors" refers to any equivalent governing body.

If an insurer does not have a board of directors, all references to the board of directors in this chapter shall be deemed to be references to the governing body of the insurer having authority equivalent to that of a board of directors.  (Added to NRS by 2015, 3431)
NV Rev Stat § 682A.380 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.380 - Prohibited investments.

  1. An insurer shall not, directly or indirectly:  (a) Invest in an obligation or security, or make a guarantee for the benefit of or in favor of an officer or director of the insurer, except as provided in NRS 682A.382 and 682A.384;  (b) Invest in an obligation or security, make a guarantee for the benefits of or in favor of, or make other investments in a business entity of which 10 percent or more of the voting securities or equity interests are owned directly or indirectly by, or for the benefit of, one or more officers or directors of the insurer, except as authorized in chapter 692C of NRS or provided in NRS 682A.382 and 682A.384;  (c) Engage on its own behalf, or through one or more affiliates, in a transaction or series of transactions designed to evade the prohibitions of this chapter;  (d) Invest in a partnership as a general partner, except that an insurer may make an investment as a general partner:  (1) If all other partners are subsidiaries of the insurer;  (2) For the purpose of:  (I) Meeting cash calls committed to before July 1, 2015;  (II) Completing those specific projects or activities of the partnership in which the insurer was a general partner on July 1, 2015, that had been undertaken as of that date; or  (III) Making capital improvements to property owned by the partnership on July 1, 2015, if the insurer was a general partner as of that date; or  (3) Pursuant to NRS 682A.310; or  (e) Invest in or lend its funds upon the security of shares of its own stock, except that an insurer may acquire shares of its own stock for the following purposes:  (1) Conversion of a stock insurer into a mutual or reciprocal insurer or a mutual or reciprocal insurer into a stock insurer;  (2) Issuance to the insurer’s officers, employees or agents in connection with a plan approved by the Commissioner for converting a publicly held insurer into a privately held insurer pursuant to NRS 693A.400 to 693A.540, inclusive, or in connection with other stock option and employee benefit plans; or  (3) In accordance with any other plan approved by the Commissioner.  2. Nothing contained in paragraph (d) of subsection 1 shall be construed to prohibit a subsidiary or other affiliate of the insurer from becoming a general partner.  3. Any investment or loan made by an insurer in accordance with the provisions of paragraph (e) of subsection 1 must not be an admitted asset of the insurer.  (Added to NRS by 2015, 3431)
NV Rev Stat § 682A.382 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.382 - Loans to officers and directors prohibited.

  1. Except as otherwise provided in NRS 682A.384, an insurer shall not, without the prior written approval of the Commissioner, directly or indirectly:  (a) Make a loan to, or another investment in, an officer or director of the insurer, or a person in which the officer or director has any direct or indirect financial interest;  (b) Make a guarantee for the benefit of, or in favor of, an officer or director of the insurer, or a person in which the officer or director has any direct or indirect financial interest; or  (c) Enter into an agreement for the purchase or sale of property from or to an officer or director of the insurer, or a person in which the officer or director has any direct or indirect financial interest.  2. For the purposes of this section, an officer or director shall not be deemed to have a financial interest by reason of an interest that is held directly or indirectly through the ownership of equity interests representing less than 2 percent of all outstanding equity interests issued by a person that is a party to the transaction, or solely by reason of that individual’s position as a director or officer of a person that is a party to the transaction.  3. This section does not allow an investment that is prohibited by NRS 682A.380.  4. This section does not apply to a transaction between an insurer and any of its subsidiaries or affiliates that is entered into in compliance with the provisions of chapter 692C of NRS, other than a transaction between an insurer and its officer or director.  (Added to NRS by 2015, 3432)
NV Rev Stat § 682A.384 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.384 - Permissible loans.

An insurer may, without the prior written approval of the Commissioner, make:  1. Policy loans in accordance with the terms of the policy or contract and NRS 682A.460;  2. Advances to officers or directors for expenses reasonably expected to be incurred in the ordinary course of the insurer’s business or guarantees associated with credit or charge cards issued, or credit extended, for the purpose of financing these expenses;  3. Loans secured by the principal residence of an existing or new officer of the insurer made in connection with the officer’s relocation at the insurer’s request, if the loans comply with the requirements of NRS 682A.430 to 682A.436, inclusive, or 682A.540 to 682A.546, inclusive, and the terms and conditions otherwise are the same as those generally available from unaffiliated third parties;  4. Secured loans to an existing or new officer of the insurer made in connection with the officer’s relocation at the insurer’s request, if the loans:  (a) Do not have a term exceeding 2 years;  (b) Are required to finance mortgage loans outstanding at the same time on the prior and new residences of the officer;  (c) Do not exceed an amount equal to the equity of the officer in the prior residence; and  (d) Are required to be fully repaid upon the earlier of the end of the 2-year period or the sale of the prior residence; or  5. Loans and advances to officers or directors made in compliance with state or federal law specifically related to the loans and advances by a regulated noninsurance subsidiary or affiliate of the insurer in the ordinary course of business and on terms not more favorable than available to other customers of the entity.  (Added to NRS by 2015, 3432)
NV Rev Stat § 682A.386 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.386 - Valuation of investments.

For the purposes of this chapter, the value or amount of an investment acquired or held, or an investment practice engaged in, pursuant to this chapter, unless otherwise specified in this title, is the value at which assets of an insurer are required to be reported for statutory accounting purposes as determined in accordance with procedures prescribed in published accounting and valuation standards of the NAIC, including, without limitation, the Purposes and Procedures Manual of the SVO and the Valuation of Securities Manual, the Accounting Practices and Procedures Manual, the Annual Statement Instructions or any successor valuation procedures officially adopted by the NAIC.  (Added to NRS by 2015, 3433)
NV Rev Stat § 682A.388 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.388 - Authority of Commissioner to adopt regulations.

The Commissioner may, pursuant to chapter 233B of NRS, adopt regulations to carry out the provisions of this chapter.  (Added to NRS by 2015, 3433)
NV Rev Stat § 682A.400 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.400 - Applicability.

NRS 682A.400 to 682A.468, inclusive, apply to the investments and investment practices of life and health insurers.  (Added to NRS by 2015, 3433)
NV Rev Stat § 682A.402 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.402 - Diversification of investments.

  1. Except as otherwise specified in this chapter, an insurer shall not acquire, directly or indirectly through an investment subsidiary, an investment in accordance with the provisions of this chapter if, as a result of and after giving effect to the investment, the insurer would hold more than 3 percent of its admitted assets in investments of all kinds issued, assumed, accepted, insured or guaranteed by a single person, or 5 percent of its admitted assets in investments in the voting securities of a depository institution or any company that controls the institution.  2. The limitations in subsection 1 do not apply to the aggregate amounts insured by a single financial guaranty insurer with the highest generic rating issued by a nationally recognized statistical rating organization.  3. Asset-backed securities are not subject to the limitations in subsection 1. However, an insurer shall not acquire an asset-backed security if, as a result of and after giving effect to the investment, the aggregate amount of asset-backed securities secured by, or evidencing an interest in, a single asset or single pool of assets held by a trust or other business entity held by the insurer would exceed 3 percent of its admitted assets.  (Added to NRS by 2015, 3433)
NV Rev Stat § 682A.404 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.404 - Medium and lower grade investments.

  1. An insurer shall not acquire, directly or indirectly through an investment subsidiary, an investment in accordance with the provisions of NRS 682A.408, 682A.420 to 682A.428, inclusive, or 682A.440 to 682A.448, inclusive, or counterparty exposure in accordance with the provisions of NRS 682A.456 if, as a result of and after giving effect to the investment:  (a) The aggregate amount of medium and lower grade investments held by the insurer would exceed 20 percent of its admitted assets;  (b) The aggregate amount of lower grade investments held by the insurer would exceed 10 percent of its admitted assets;  (c) The aggregate amount of investments rated 5 or 6 by the SVO held by the insurer would exceed 3 percent of its admitted assets;  (d) The aggregate amount of investments rated 6 by the SVO held by the insurer would exceed 1 percent of its admitted assets;  (e) The aggregate amount of medium and lower grade investments held by the insurer that receive as cash income less than the equivalent yield for United States Treasury issues with a comparative average life, would exceed 1 percent of its admitted assets;  (f) The aggregate amount of medium and lower grade investments issued, assumed, guaranteed, accepted or insured by any one person or, as to asset-backed securities secured by or evidencing an interest in a single asset or pool of assets, held by the insurer would exceed 1 percent of its admitted assets; or  (g) The aggregate amount of lower grade investments issued, assumed, guaranteed, accepted or insured by any one person or, as to asset-backed securities secured by or evidencing an interest in a single asset or pool of assets, held by the insurer would exceed 0.5 percent of its admitted assets.  2. If an insurer attains or exceeds the limit of any one rating category referred to in this section, the insurer is not precluded from acquiring investments in other rating categories subject to the specific and multicategory limits applicable to those investments.  (Added to NRS by 2015, 3433)
NV Rev Stat § 682A.406 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.406 - Canadian investments.

  1. An insurer shall not acquire, directly or indirectly through an investment subsidiary, a Canadian investment authorized by the provisions of this chapter if, as a result of and after giving effect to the investment, the aggregate amount of these investments held by the insurer would exceed 40 percent of its admitted assets, or if the aggregate amount of Canadian investments not acquired in accordance with the provisions of paragraph (c) or (d) of subsection 1 of NRS 682A.408 held by the insurer would exceed 25 percent of its admitted assets.  2. As to an insurer that is authorized to do business in Canada or that has outstanding insurance, annuity or reinsurance contracts on lives or risks resident or located in Canada and denominated in Canadian currency, the limitations in subsection 1 must be increased by the greater of:  (a) The amount the insurer is required by Canadian law to invest in Canada or to be denominated in Canadian currency; or  (b) An amount not to exceed 115 percent of the amount of its reserves and other obligations under contracts on lives or risks resident or located in Canada.  (Added to NRS by 2015, 3434)
NV Rev Stat § 682A.412 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.412 - Acquisition of equity interests generally permissible.

Subject to the limitations of NRS 682A.402, 682A.404 and 682A.406, an insurer may acquire equity interests in business entities organized in accordance with the laws of any domestic jurisdiction.  (Added to NRS by 2015, 3438)
NV Rev Stat § 682A.414 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.414 - Limitation on aggregate amount of investments held in equity interests.

An insurer shall not acquire an investment in accordance with the provisions of NRS 682A.412 to 682A.418, inclusive, if, as a result of and after giving effect to the investment, the aggregate amount of investments held by the insurer in accordance with those sections would exceed 20 percent of the insurer’s admitted assets, or the amount of equity interests held by the insurer that are not listed on a qualified exchange would exceed 5 percent of the insurer’s admitted assets. An accident and health insurer is not subject to the provisions of NRS 682A.412 to 682A.418, inclusive, but is subject to the same aggregate limitation on equity interests as a property and casualty insurer in accordance with the provisions of NRS 682A.502 to 682A.510, inclusive, and 682A.522 to 682A.528, inclusive.  (Added to NRS by 2015, 3438)
NV Rev Stat § 682A.416 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.416 - Restriction on mortgage or real estate holdings acquired or held as equity interests.

An insurer shall not acquire in accordance with the provisions of NRS 682A.412 to 682A.418, inclusive, any investments that the insurer may acquire in accordance with the provisions of NRS 682A.430 to 682A.436, inclusive.  (Added to NRS by 2015, 3438)
NV Rev Stat § 682A.418 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.418 - Short sale of equity investments.

An insurer shall not short sell equity investments unless the insurer covers the short sale by owning the equity investment or an unrestricted right to the equity investment exercisable within 6 months after the short sale.  (Added to NRS by 2015, 3438)