reglab/housing_qa huggingface dataset:
NV Rev Stat § 682A.420 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.420 - Tangible personal property under lease or other agreement.

  1. Subject to the limitations of NRS 682A.402, 682A.404 and 682A.406, an insurer may acquire tangible personal property or equity interests therein located or used wholly or in part within a domestic jurisdiction either directly or indirectly through limited partnership interests and general partnership interests not otherwise prohibited by paragraph (d) of subsection 1 of NRS 682A.380, joint ventures, stock of an investment subsidiary or membership interests in a limited-liability company, trust certificates or other similar instruments.   2. Investments acquired as described in subsection 1 are eligible only if:  (a) The property is subject to a lease or other agreement with a person whose rated credit instruments in the amount of the purchase price of the personal property the insurer could acquire in accordance with the provisions of NRS 682A.408; and  (b) The lease or other agreement provides the insurer the right to receive rental, purchase or other fixed payments for the use or purchase of the property, and the aggregate value of the payments, together with the estimated residual value of the property at the end of its useful life and the estimated tax benefits to the insurer resulting from ownership of the property, must be adequate to return the cost of the insurer’s investment in the property, plus a return deemed adequate by the insurer.  (Added to NRS by 2015, 3438)
NV Rev Stat § 682A.422 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.422 - Valuation of personal property under lease.

The insurer shall compute the amount of each investment acquired in accordance with the provisions of NRS 682A.420 to 682A.428, inclusive, on the basis of the out-of-pocket purchase price and applicable related expenses paid by the insurer for the investment, net of each borrowing made to finance the purchase price and expenses, to the extent the borrowing is without recourse to the insurer.  (Added to NRS by 2015, 3439)
NV Rev Stat § 682A.424 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.424 - Limitation on aggregate amount of investments held in personal property under lease.

An insurer shall not acquire an investment in accordance with the provisions of NRS 682A.420 to 682A.428, inclusive, if, as a result of and after giving effect to the investment, the aggregate amount of all investments held by the insurer in accordance with the provisions of NRS 682A.420 to 682A.428, inclusive, would exceed:  1. Two percent of its admitted assets; or  2. One half of one percent of its admitted assets as to any single item of tangible personal property.  (Added to NRS by 2015, 3439)
NV Rev Stat § 682A.426 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.426 - Computation of investments held as personal property under lease for purposes of investment diversification requirements.

For the purposes of determining compliance with the limitations of NRS 682A.402, 682A.404 and 682A.406, investments acquired by an insurer in accordance with the provisions of NRS 682A.420 to 682A.428, inclusive, must be aggregated with those acquired in accordance with the provisions of NRS 682A.408, and each lessee of the property under a lease referred to in NRS 682A.420 to 682A.428, inclusive, shall be deemed the issuer of an obligation in the amount of the investment of the insurer in the property determined as provided in NRS 682A.422.  (Added to NRS by 2015, 3439)
NV Rev Stat § 682A.428 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.428 - Exempted personal property under lease.

Nothing in NRS 682A.420 to 682A.428, inclusive, applies to tangible personal property lease arrangements between an insurer and its subsidiaries and affiliates in accordance with a cost-sharing arrangement or agreement permitted in accordance with the provisions of chapter 692C of NRS.  (Added to NRS by 2015, 3439)
NV Rev Stat § 682A.432 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.432 - Income-producing real estate.

  1. An insurer may acquire, manage and dispose of real estate situated in a domestic jurisdiction either directly or indirectly through limited partnership interests and general partnership interests not otherwise prohibited by paragraph (d) of subsection 1 of NRS 682A.380, joint ventures, stock of an investment subsidiary or membership interests in a limited-liability company, trust certificates or other similar instruments. The real estate must be income producing or intended for improvement or development for investment purposes under an existing program, in which case the real estate shall be deemed to be income producing.  2. The real estate may be subject to mortgages, liens or other encumbrances, the amount of which must, to the extent that the obligations secured by the mortgages, liens or encumbrances are without recourse to the insurer, be deducted from the amount of the investment of the insurer in the real estate for purposes of determining compliance with subsections 2 and 3 of NRS 682A.436.  (Added to NRS by 2015, 3440)
NV Rev Stat § 682A.434 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.434 - Real estate for accommodation of business operations.

  1. An insurer may acquire, manage and dispose of real estate for the convenient accommodation of the insurer’s, and its affiliates’, business operations, including home office, branch office and field office operations.  2. Real estate acquired as described in this section may include excess space for rent to others, if the excess space, valued at its fair market value, would otherwise be an allowed investment in accordance with the provisions of NRS 682A.432 and is so qualified by the insurer.  3. The real estate acquired as described in this section may be subject to one or more mortgages, liens or other encumbrances, the amount of which must, to the extent that the obligations secured by the mortgages, liens or encumbrances are without recourse to the insurer, be deducted from the amount of the investment of the insurer in the real estate for purposes of determining compliance with subsection 4 of NRS 682A.436.  4. For the purposes of this section, business operations must not include that portion of real estate used for the direct provision of health care services by an accident and health insurer for its insureds. An insurer may acquire real estate used for these purposes under NRS 682A.432.  (Added to NRS by 2015, 3441)
NV Rev Stat § 682A.440 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.440 - Foreign investments.

Subject to the limitations of NRS 682A.402, 682A.404 and 682A.406, an insurer may acquire foreign investments, or engage in investment practices with persons of or in foreign jurisdictions, of substantially the same type as those that an insurer is allowed to acquire pursuant to this chapter, other than of the type allowed under NRS 682A.410 if, as a result of and after giving effect to the investments:  1. The aggregate amount of foreign investments held by the insurer in accordance with this section does not exceed 20 percent of its admitted assets; and  2. The aggregate amount of foreign investments held by the insurer in accordance with this section in a single foreign jurisdiction does not exceed 10 percent of its admitted assets as to a foreign jurisdiction that has a sovereign debt rating of SVO 1 or 3 percent of its admitted assets as to any other foreign jurisdiction.  (Added to NRS by 2015, 3444)
NV Rev Stat § 682A.442 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.442 - Foreign currency exposure.

  1. Subject to the limitations of NRS 682A.402, 682A.404 and 682A.406, an insurer may acquire investments, or engage in investment practices denominated in foreign currencies, whether or not they are foreign investments acquired as described in NRS 682A.440, or additional foreign currency exposure as a result of the termination or expiration of a hedging transaction with respect to investments denominated in a foreign currency if:  (a) The aggregate amount of investments held by the insurer in accordance with this section denominated in foreign currencies does not exceed 10 percent of its admitted assets; and  (b) The aggregate amount of investments held by the insurer in accordance with this section denominated in the foreign currency of a single foreign jurisdiction does not exceed 10 percent of its admitted assets as to a foreign jurisdiction that has a sovereign debt rating of SVO 1 or 3 percent of its admitted assets as to any other foreign jurisdiction.   2. An investment must not be considered denominated in a foreign currency if the acquiring insurer enters into one or more contracts in transactions allowed under NRS 682A.450 to 682A.458, inclusive, and the business entity counterparty agrees in the contract or contracts to exchange all payments made on the foreign currency denominated investment for United States currency at a rate which effectively insulates the investment cash flows against future changes in currency exchange rates during the period the contract or contracts are in effect.  (Added to NRS by 2015, 3444)
NV Rev Stat § 682A.444 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.444 - Additional foreign investment and foreign currency allowance for insurers authorized to do business in foreign jurisdiction and holding foreign contracts.

In addition to investments allowed under NRS 682A.440 and 682A.442, an insurer that is authorized to do business in a foreign jurisdiction, and that has outstanding insurance, annuity or reinsurance contracts on lives or risks resident or located in that foreign jurisdiction and denominated in a foreign currency of that jurisdiction, may acquire foreign investments respecting that foreign jurisdiction, and may acquire investments denominated in the currency of that jurisdiction, subject to the limitations of NRS 682A.402, 682A.404 and 682A.406. Investments made in accordance with this section in obligations of foreign governments, their political subdivisions and government-sponsored enterprises are not subject to the limitations of NRS 682A.402, 682A.404 and 682A.406 if those investments carry an SVO rating of 1 or 2. The aggregate amount of investments acquired by the insurer in accordance with this section must not exceed the greater of:  1. The amount the insurer is required by the law of the foreign jurisdiction to invest in the foreign jurisdiction; or  2. One hundred fifteen percent of the amount of the insurer’s reserves, net of reinsurance, and other obligations under the contracts on lives or risks resident or located in the foreign jurisdiction.  (Added to NRS by 2015, 3445)
NV Rev Stat § 682A.446 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.446 - Additional foreign investment and foreign currency allowance for insurers not authorized to do business in foreign jurisdiction but holding foreign contracts.

In addition to investments allowed under NRS 682A.440 and 682A.442, an insurer that is not authorized to do business in a foreign jurisdiction, but which has outstanding insurance, annuity or reinsurance contracts on lives or risks resident or located in that foreign jurisdiction and denominated in foreign currency of that jurisdiction, may acquire foreign investments respecting that foreign jurisdiction, and may acquire investments denominated in the currency of that jurisdiction subject to the limitations of NRS 682A.402, 682A.404 and 682A.406. Investments made in accordance with this section in obligations of foreign governments, their political subdivisions and government-sponsored enterprises are not subject to the limitations of NRS 682A.402, 682A.404 and 682A.406 if those investments carry an SVO rating of 1 or 2. The aggregate amount of investments acquired by the insurer in accordance with this section must not exceed 105 percent of the amount of the insurer’s reserves, net of reinsurance, and other obligations under the contracts on lives or risks resident or located in the foreign jurisdiction.  (Added to NRS by 2015, 3445)
NV Rev Stat § 682A.448 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.448 - Calculation of foreign investments for purposes of determining compliance with limitations.

Investments acquired in conformance with NRS 682A.440 to 682A.448, inclusive, must be aggregated with investments of the same types made under this chapter, and in a similar manner, for purposes of determining compliance with the limitations, if any, contained in this chapter. Investments in obligations of foreign governments, their political subdivisions and government-sponsored enterprises of these persons, except for those exempted by NRS 682A.444 and 682A.446, are subject to the limitations of NRS 682A.402, 682A.404 and 682A.406.  (Added to NRS by 2015, 3445)
NV Rev Stat § 682A.450 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.450 - Derivative transactions.

An insurer may, directly or indirectly through an investment subsidiary, engage in derivative transactions as described in NRS 682A.450 to 682A.458, inclusive, pursuant to the following conditions:  1. An insurer may use derivative instruments under NRS 682A.450 to 682A.458, inclusive, to engage in hedging transactions and certain income generation transactions, as these terms may be further defined in regulations adopted by the Commissioner pursuant to NRS 682A.388; and  2. An insurer must be able to demonstrate to the Commissioner the intended hedging characteristics and the ongoing effectiveness of the derivative transaction or combination of the transactions through cash flow testing or other appropriate analyses.  (Added to NRS by 2015, 3446)
NV Rev Stat § 682A.452 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.452 - Derivative transactions: Limitations on hedging transactions.

An insurer may enter into hedging transactions under NRS 682A.450 to 682A.458, inclusive, if, as a result of and after giving effect to the transaction:  1. The aggregate statement value of options, caps, floors and warrants not attached to another financial instrument purchased and used in hedging transactions does not exceed 7.5 percent of its admitted assets;  2. The aggregate statement value of options, caps and floors written in hedging transactions does not exceed 3 percent of its admitted assets; and  3. The aggregate potential exposure of collars, swaps, forwards and futures used in hedging transactions does not exceed 6.5 percent of its admitted assets.  (Added to NRS by 2015, 3446)
NV Rev Stat § 682A.454 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.454 - Derivative transactions: Limitations on income generation transactions.

An insurer may only enter into the following types of income generation transactions if, as a result of and after giving effect to the transactions, the aggregate statement value of the fixed income assets that are subject to call or which generate the cash flows for payments under the caps or floors, plus the face value of fixed income securities underlying a derivative instrument subject to call, plus the amount of the purchase obligations under the puts, does not exceed 10 percent of its admitted assets:  1. Sales of covered call options on noncallable fixed income securities, callable fixed income securities if the option expires by its terms before the end of the noncallable period or derivative instruments based on fixed income securities;  2. Sales of covered call options on equity securities, if the insurer holds in its portfolio, or can immediately acquire through the exercise of options, warrants or conversion rights already owned, the equity securities subject to call during the complete term of the call option sold;  3. Sales of covered puts on investments that the insurer is allowed to acquire pursuant to this chapter, if the insurer has escrowed, or entered into a custodian agreement segregating, cash or cash equivalents with a market value equal to the amount of its purchase obligations under the put during the complete term of the put option sold; or  4. Sales of covered caps or floors, if the insurer holds in its portfolio the investments generating the cash flow to make the required payments under the caps or floors during the complete term that the cap or floor is outstanding.  (Added to NRS by 2015, 3446)
NV Rev Stat § 682A.456 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.456 - Derivative transactions: Counterparty exposure.

An insurer shall include all counterparty exposure amounts in determining compliance with the limitations of NRS 682A.402, 682A.404 and 682A.406.  (Added to NRS by 2015, 3447)
NV Rev Stat § 682A.458 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.458 - Commissioner may allow additional derivative transactions by regulation; limitations.

In accordance with the regulations adopted pursuant to NRS 682A.388, the Commissioner may approve additional transactions involving the use of derivative instruments in excess of the limits of NRS 682A.452 for other risk-management purposes, but replication transactions must not be allowed for other than risk-management purposes.  (Added to NRS by 2015, 3447)
NV Rev Stat § 682A.460 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.460 - Policy loans.

A life insurer may lend to a policyholder on the security of the cash surrender value of the policyholder’s policy a sum not exceeding the legal reserve that the insurer is required to maintain on the policy.  (Added to NRS by 2015, 3447)
NV Rev Stat § 682A.462 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.462 - Limited exemption from quantitative limits on certain investments.

Solely for the purpose of acquiring investments that exceed the quantitative limitations of NRS 682A.402 to 682A.448, inclusive, an insurer may acquire in accordance with this section an investment, or engage in investment practices described in NRS 682A.438, but an insurer shall not acquire an investment or engage in investment practices described in NRS 682A.438 in accordance with this section if, as a result of and after giving effect to the transaction:  1. The aggregate amount of investments held by the insurer would exceed 3 percent of its admitted assets; or  2. The aggregate amount of investments as to one limitation in NRS 682A.402 to 682A.448, inclusive, held by the insurer would exceed 1 percent of its admitted assets.  (Added to NRS by 2015, 3447)
NV Rev Stat § 682A.464 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.464 - Limited exemption from certain restrictions on investments.

  1. In addition to the authority provided in NRS 682A.462, an insurer may acquire in accordance with this section an investment of any kind, or engage in investment practices described in NRS 682A.438 that are not specifically prohibited by the provisions of this chapter, without regard to the categories, conditions, standards or other limitations of NRS 682A.402 to 682A.448, inclusive, if, as a result of and after giving effect to the transaction, the aggregate amount of investments held would not exceed the lesser of:  (a) Ten percent of its admitted assets; or  (b) Seventy-five percent of its capital and surplus.  2. An insurer shall not acquire any investment or engage in any investment practice in accordance with this section if, as a result of and after giving effect to the transaction, the aggregate amount of all investments in any one person held by the insurer would exceed 3 percent of its admitted assets.  (Added to NRS by 2015, 3447)
NV Rev Stat § 682A.466 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.466 - Additional exemption from certain investment limitations with approval of Commissioner.

In addition to the investments acquired as described in NRS 682A.462 and 682A.464, an insurer may acquire in accordance with this section an investment of any kind, or engage in investment practices described in NRS 682A.438, that are not specifically prohibited by the provisions of this chapter, without regard to any limitations of NRS 682A.402 to 682A.448, inclusive, if:  1. The Commissioner grants prior approval;  2. The insurer demonstrates that its investments are being made in a prudent manner and that the additional amounts will be invested in a prudent manner; and  3. As a result of and after giving effect to the transaction the aggregate amount of investments held by the insurer is not greater than:  (a) Twenty-five percent of its capital and surplus; or  (b) One hundred percent of capital and surplus less 10 percent of its admitted assets.  (Added to NRS by 2015, 3447)
NV Rev Stat § 682A.468 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.468 - Prohibitions applied to exempted investments.

An investment prohibited by NRS 682A.380, not allowed by NRS 682A.450 to 682A.458, inclusive, or additional derivative instruments acquired under NRS 682A.450 to 682A.458, inclusive, must not be acquired pursuant to NRS 682A.462 to 682A.468, inclusive.  (Added to NRS by 2015, 3448)
NV Rev Stat § 682A.500 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.500 - Applicability.

NRS 682A.500 to 682A.572, inclusive, apply to the investments and investment practices of property and casualty, financial guaranty and mortgage guaranty insurers.  (Added to NRS by 2015, 3448)
NV Rev Stat § 682A.502 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.502 - Reserve requirements.

Subject to all other limitations and requirements of this chapter, a property and casualty, financial guaranty, mortgage guaranty or accident and health insurer shall maintain an amount not less than 100 percent of adjusted loss reserves and loss adjustment expense reserves, 100 percent of adjusted unearned premium reserves and 100 percent of statutorily required policy and contract reserves in:  1. Cash and cash equivalents;  2. High and medium grade investments that qualify pursuant to NRS 682A.518 and 682A.520;  3. Equity interests that qualify pursuant to NRS 682A.522 to 682A.528, inclusive, and which are traded on a qualified exchange;  4. Investments of the type set forth in NRS 682A.550 to 682A.558, inclusive, if the investments are rated in the highest generic rating category by a nationally recognized statistical rating organization recognized by the SVO for rating foreign jurisdictions and if any foreign currency exposure is effectively hedged through the maturity date of the investments;  5. Qualifying investments of the type set forth in subsections 2, 3 and 4 that are acquired pursuant to NRS 682A.570 and 682A.572;  6. Interest and dividends receivable on qualifying investments of the type set forth in subsections 1 to 5, inclusive; or  7. Reinsurance recoverable on paid losses.  (Added to NRS by 2015, 3448)