reglab/housing_qa huggingface dataset:
NV Rev Stat § 692B.130 (2021)
2021 Nevada Revised Statutes|Chapter 692B - Formation and Capitalization of Domestic Stock and Mutual Insurers; Financing of Insurers and Holding Companies|NRS 692B.130 - Prospectus required; contents of prospectus; other literature; filing of certain sales literature and visual sales material with Commissioner.

  1. An offering of securities, or of insurance policies (in case of qualifying applications for insurance in the formation of a domestic mutual insurer), shall be made only by a written prospectus as filed with the Commissioner and delivered to the prospective investor or policyholder.  2. The prospectus shall disclose all facts relative to the issuer and the offered security or policy which are reasonably material thereto, and shall not omit a material fact necessary to make the statements made, in the light of the circumstances under which made, not misleading. The Commissioner may make reasonable rules and regulations concerning the form and contents of prospectuses, not inconsistent with the provisions of this Code.  3. The Commissioner may accept, as a compliance with this section, a prospectus or offering circular covering securities to be offered in this state under an existing registration thereof with the Securities and Exchange Commission or under an existing exemption from such registration pursuant to Regulation A of the general rules and regulations of the Securities and Exchange Commission under the Securities Act of 1933, as amended.  4. As to securities covered by a solicitation permit, no sales literature or visual sales material other than the prospectus or offering circular shall be used in solicitations unless a copy thereof has been filed with the Commissioner in advance of such use and not disapproved by the Commissioner in writing mailed or delivered to the filing party within 10 days after the date of such filing. The Commissioner shall disapprove any such literature or material found by the Commissioner to be untrue or misleading. This subsection does not modify or affect any applicable requirement or prohibition under or pursuant to the Securities Act of 1933, as amended.  (Added to NRS by 1971, 1789)
NV Rev Stat § 692B.140 (2021)
2021 Nevada Revised Statutes|Chapter 692B - Formation and Capitalization of Domestic Stock and Mutual Insurers; Financing of Insurers and Holding Companies|NRS 692B.140 - Modification or revocation of permit.

The Commissioner may for cause modify a solicitation permit theretofore issued; and may after a hearing thereon revoke the permit for a violation of law or the terms of the permit, of any proper order of the Commissioner, or for material misrepresentation in the offering or sale of securities or policies under the permit.  (Added to NRS by 1971, 1790)
NV Rev Stat § 692B.150 (2021)
2021 Nevada Revised Statutes|Chapter 692B - Formation and Capitalization of Domestic Stock and Mutual Insurers; Financing of Insurers and Holding Companies|NRS 692B.150 - Bond; deposit in lieu of bond; waiver or release.

  1. Except as otherwise provided in this section, the Commissioner shall not issue a solicitation permit until the applicant has filed with the Commissioner a bond in favor of the State of Nevada, in the penal sum of $50,000 and issued by a surety insurer authorized to transact such insurance in this state.  2. The bond shall be conditioned upon:  (a) The payment of costs incurred by the State of Nevada in the event of any proceeding for liquidation or dissolution of the proposed organization before completion or organization, or, if to be an insurer, a certificate of authority is not granted;  (b) Compliance with terms of the permit and with applicable laws of this state; and  (c) A full accounting for all funds received in transactions under the permit until the proposed insurer has been granted its certificate of authority or until the corporation, syndicate, association, firm or organization or financing has been completed within the terms of the permit.  3. In lieu of filing such a bond the applicant may deposit with the Commissioner cash in the amount of $50,000 or securities of the United States Government or of the State of Nevada in market value of at least $50,000, and the Commissioner shall hold such deposit in trust for the same purposes as apply to a bond under subsection 2. The amount so deposited may, in the Commissioner’s discretion, be credited toward payment of subscriptions to securities by founders, promoters and incorporators if required under subparagraph (1) of paragraph (e) of subsection 2 of NRS 692B.110, (terms of permit) but subject to such diminution of such credit as may result from actual application of the deposit to the purposes for which made.  4. The Commissioner may, in the discretion of the Commissioner, waive the requirement for a bond or deposit in lieu thereof if the securities are to be issued in connection with subsequent financing as provided for in NRS 692B.260.  5. The Commissioner shall release and discharge the bond or deposit or remaining portion thereof held under this section upon settlement of all liabilities, if any, against it.  6. This section does not apply to solicitation of initial qualifying applications for insurance in a proposed domestic mutual insurer pursuant to NRS 692B.200 except as provided in NRS 692B.210.  (Added to NRS by 1971, 1790)
NV Rev Stat § 692B.160 (2021)
2021 Nevada Revised Statutes|Chapter 692B - Formation and Capitalization of Domestic Stock and Mutual Insurers; Financing of Insurers and Holding Companies|NRS 692B.160 - Rights under permit.

Upon issuance to it by the Commissioner of its solicitation permit, a newly formed proposed domestic stock or mutual insurer shall file with the Commissioner a copy of its articles of incorporation as filed with the Secretary of State and proceed to the offer and sale of its securities and insurance policies as provided for in the permit.  (Added to NRS by 1971, 1791)
NV Rev Stat § 692B.170 (2021)
2021 Nevada Revised Statutes|Chapter 692B - Formation and Capitalization of Domestic Stock and Mutual Insurers; Financing of Insurers and Holding Companies|NRS 692B.170 - Deposit of money in escrow.

  1. The holder of the solicitation permit shall promptly deposit all money except as provided in paragraph (a) of subsection 2, received from an offering of securities in this state pursuant to the permit, other than advance premiums for insurance which are subject to NRS 692B.230, in escrow in a bank, credit union or trust company located in this state and under an agreement consistent with this chapter filed with and approved by the Commissioner.  2. No part of the money may be withdrawn from the deposit, except:  (a) For payment of organization, sales and promotion expenses as earned and as authorized by the permit, and money for such purposes, up to the applicable expense limit on money as received, may be withheld from the deposit;  (b) For the purpose of making any deposit with the Commissioner required for the issuance of a certificate of authority to an insurer, or if the organization is not, or is not to be, an insurer, upon completion of payments on securities subscriptions made under the permit and deposit or appropriation of such money to the purposes specified in the permit; or  (c) For the making of refunds as provided in NRS 692B.240.  3. Money while so held in escrow may be invested in certificates of deposit or savings accounts. Interest accruing thereon becomes part of the money released as provided in paragraph (b) of subsection 2, or must be applied toward the cost of making refunds under paragraph (c) of subsection 2, or to supplement the bond or deposit in lieu thereof if the bond or deposit is called on pursuant to NRS 692B.150.  4. When the Commissioner has issued a certificate of authority to a proposed insurer the Commissioner shall release to the insurer any money remaining in escrow for its account.  5. The Commissioner may in the discretion of the Commissioner waive compliance with this section as to money to be received under a subsequent financing permit pursuant to NRS 692B.260, or in other circumstances where the Commissioner deems such an escrow to be unnecessary for the protection of investors or the public.  (Added to NRS by 1971, 1791; A 1999, 1553)
NV Rev Stat § 692B.180 (2021)
2021 Nevada Revised Statutes|Chapter 692B - Formation and Capitalization of Domestic Stock and Mutual Insurers; Financing of Insurers and Holding Companies|NRS 692B.180 - Subscription contracts.

  1. No form of subscription contract to sell securities under a solicitation permit shall be used unless the form has been filed with the Commissioner not less than 10 days prior to use and not disapproved by the Commissioner. The Commissioner shall disapprove any such form found by the Commissioner, either within or after such 10-day period, to be:  (a) Prolix or unduly complicated as to terms;  (b) In any material part, printed in such a manner as to be difficult to read;  (c) Unfair to the subscriber in its terms; or  (d) Contrary to law or the terms of the solicitation permit.  2. No such disapproval shall be retroactively effective.  3. Every such contract providing for payment of the subscription price in installments shall:  (a) Require payment in full prior to expiration of the permit; and  (b) Provide for the forfeiture, at the option of the corporation, of all payments theretofore made if the subscriber fails to cure all delinquencies of payments thereunder within 45 days after written notice of such delinquencies and of such forfeiture requirement has been mailed by the permit holder to the subscriber at his or her address last of record with the permit holder.  (Added to NRS by 1971, 1791)
NV Rev Stat § 692B.193 (2021)
2021 Nevada Revised Statutes|Chapter 692B - Formation and Capitalization of Domestic Stock and Mutual Insurers; Financing of Insurers and Holding Companies|NRS 692B.193 - Payment of child support: Statement by applicant for permit or license; grounds for denial of permit or license; duty of Commissioner. [Effective until the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occupational and recreational licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.]

  1. A natural person who applies for the issuance of a permit or license pursuant to this chapter shall submit to the Commissioner the statement prescribed by the Division of Welfare and Supportive Services of the Department of Health and Human Services pursuant to NRS 425.520. The statement must be completed and signed by the applicant.  2. The Commissioner shall include the statement required pursuant to subsection 1 in:  (a) The application or any other forms that must be submitted for the issuance or renewal of the permit or license; or  (b) A separate form prescribed by the Commissioner.  3. A permit or license may not be issued by the Commissioner pursuant to this chapter if the applicant is a natural person who:  (a) Fails to submit the statement required pursuant to subsection 1; or  (b) Indicates on the statement submitted pursuant to subsection 1 that the applicant is subject to a court order for the support of a child and is not in compliance with the order or a plan approved by the district attorney or other public agency enforcing the order for the repayment of the amount owed pursuant to the order.  4. If an applicant indicates on the statement submitted pursuant to subsection 1 that the applicant is subject to a court order for the support of a child and is not in compliance with the order or a plan approved by the district attorney or other public agency enforcing the order for the repayment of the amount owed pursuant to the order, the Commissioner shall advise the applicant to contact the district attorney or other public agency enforcing the order to determine the actions that the applicant may take to satisfy the arrearage.  (Added to NRS by 1997, 2202)
NV Rev Stat § 692B.197 (2021)
2021 Nevada Revised Statutes|Chapter 692B - Formation and Capitalization of Domestic Stock and Mutual Insurers; Financing of Insurers and Holding Companies|NRS 692B.197 - Suspension of permit or license for failure to pay child support or comply with certain subpoenas or warrants; reinstatement of permit or license. [Effective until the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occupational and recreational licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.]

  1. If the Commissioner receives a copy of a court order issued pursuant to NRS 425.540 that provides for the suspension of all professional, occupational and recreational licenses, certificates and permits issued to a person who is the holder of a permit or license issued pursuant to this chapter, the Commissioner shall deem the permit or license issued to that person to be suspended at the end of the 30th day after the date on which the court order was issued unless the Commissioner receives a letter issued to the holder of the permit or license by the district attorney or other public agency pursuant to NRS 425.550 stating that the holder of the permit or license has complied with the subpoena or warrant or has satisfied the arrearage pursuant to NRS 425.560.  2. The Commissioner shall reinstate a permit or license issued pursuant to this chapter that has been suspended by a district court pursuant to NRS 425.540 if the Commissioner receives a letter issued by the district attorney or other public agency pursuant to NRS 425.550 to the person whose permit or license was suspended stating that the person whose permit or license was suspended has complied with the subpoena or warrant or has satisfied the arrearage pursuant to NRS 425.560.  (Added to NRS by 1997, 2203)
NV Rev Stat § 692B.210 (2021)
2021 Nevada Revised Statutes|Chapter 692B - Formation and Capitalization of Domestic Stock and Mutual Insurers; Financing of Insurers and Holding Companies|NRS 692B.210 - Mutual insurers: Permit; bond or deposit.

  1. Before soliciting applications for insurance as required under NRS 692B.200, the incorporators of the proposed insurer shall procure a solicitation permit as required by NRS 692B.040, and shall file with the Commissioner a corporate surety bond in the penal sum of $50,000 in favor of the State of Nevada and conditioned as follows:  (a) Upon due accounting for and deposit, as required under NRS 692B.230, of funds received as premiums upon applications for insurance; and  (b) If the corporation fails to complete its organization and secure a certificate of authority issued by the Commissioner within the period allowed therefor by the solicitation permit, all premiums collected from applicant members will be promptly returned to them, and all other indebtedness of the corporation, other than any compensation to directors, officers or solicitors of insurance applications, and costs incurred by the State of Nevada in any legal proceedings for the liquidation or dissolution of the corporation will be paid.  2. In lieu of such a bond, the incorporators may deposit with the Commissioner cash in the amount of $50,000, or securities of the United States Government or of the State of Nevada of a market value of at least $50,000, and the Commissioner shall hold such deposit in trust for the same purposes as apply to a bond under subsection 1.  3. If the corporation or an affiliate corporation proposes also to offer securities for initial financing of the proposed insurer, in addition to the securing of qualifying applications for insurance, the bond or deposit required by this section may be combined with that required under NRS 692B.150, with appropriate extension of the conditions of such bond or deposit to comply with the requirements of both sections, so that only one such bond or deposit of $50,000 shall be necessary for all such purposes.  4. The Commissioner shall release and discharge the bond or deposit or remaining portion thereof held under this section upon settlement of all liabilities, if any, against it.  (Added to NRS by 1971, 1794)
NV Rev Stat § 692B.220 (2021)
2021 Nevada Revised Statutes|Chapter 692B - Formation and Capitalization of Domestic Stock and Mutual Insurers; Financing of Insurers and Holding Companies|NRS 692B.220 - Mutual insurers: Qualifying applications for insurance.

  1. Upon issuance of the required solicitation permit, the proposed insurer may commence solicitation of requisite applications for insurance policies and may receive deposits of premiums thereon.  2. All such applications shall be in writing signed by the applicant, covering subjects of insurance resident, located or to be performed in this state.  3. All such applications shall provide that:  (a) Issuance of the policy is contingent upon the insurer qualifying for and receiving a certificate of authority;  (b) No insurance is in effect unless and until the certificate of authority has been issued;  (c) The prepaid premium or deposit, and membership or policy fee, if any, shall be refunded in full to the applicant if organization is not completed and the certificate of authority is not issued and received by the insurer before expiration or other termination of the solicitation permit; and  (d) All qualifying premiums shall be paid in cash.  4. Solicitations for such qualifying applications for insurance shall be by licensed agents of the corporation; and the Commissioner shall upon the corporation’s request therefor and fulfillment of the requirements applicable under chapter 683A of NRS (agents, brokers and solicitors), license as agents of the corporation individuals qualified therefor under, and subject to, such sections.  (Added to NRS by 1971, 1795)
NV Rev Stat § 692B.230 (2021)
2021 Nevada Revised Statutes|Chapter 692B - Formation and Capitalization of Domestic Stock and Mutual Insurers; Financing of Insurers and Holding Companies|NRS 692B.230 - Mutual insurers: Deposit of premiums in escrow.

  1. All sums collected by a domestic mutual corporation as premiums or fees on qualifying applications for insurance therein must be deposited in escrow with a bank, credit union or trust company located in this state under a written agreement filed with and approved by the Commissioner. The terms of such an agreement must be consistent with those of the solicitation permit and of the applicable provisions of this section and NRS 692B.250.  2. Upon issuance to the corporation of a certificate of authority as an insurer for the kind of insurance for which such applications were solicited, all money so held in escrow becomes the money of the insurer. Until the certificate of authority is issued, the money remains the property of the applicants for insurance as respectively entitled thereto.  (Added to NRS by 1971, 1795; A 1999, 1553)
NV Rev Stat § 692B.240 (2021)
2021 Nevada Revised Statutes|Chapter 692B - Formation and Capitalization of Domestic Stock and Mutual Insurers; Financing of Insurers and Holding Companies|NRS 692B.240 - Failure to complete or qualify.

  1. The Commissioner shall withdraw all funds held in escrow under NRS 692B.170, and refund to securities subscribers or purchasers all sums paid in thereon under the solicitation permit, less that part allowed and used for organization, sales and promotion expenses, if:  (a) The permit holder has failed to complete its organization or financing, within the terms of the permit, or, if to be an insurer, it has failed to secure its certificate of authority, all before expiration of the permit; or  (b) The permit is revoked.  2. As to funds paid in on subscriptions by founders, promoters and incorporators and held on deposit in lieu of the bond under subsection 3 of NRS 692B.150, only such portion of such funds shall be refundable under this section as may remain after discharge of all liabilities against the deposit under NRS 692B.150 and the charging of such funds with a proportionate share of organization, sales and promotion expenses.  3. If a proposed domestic mutual insurer fails to complete its organization and to secure its original certificate of authority within the period allowed therefor by the solicitation permit, the corporation shall transact no further business, and the Commissioner shall return or cause to be returned to the persons entitled thereto all advance deposits or payments of premiums or fees held in escrow under NRS 692B.230.  (Added to NRS by 1971, 1795)
NV Rev Stat § 692B.250 (2021)
2021 Nevada Revised Statutes|Chapter 692B - Formation and Capitalization of Domestic Stock and Mutual Insurers; Financing of Insurers and Holding Companies|NRS 692B.250 - Voluntary dissolution.

  1. At any time prior to the issuance of a certificate of authority to a proposed domestic stock or mutual insurer, the incorporators may voluntarily surrender the articles of incorporation and the corporation may be voluntarily dissolved by written agreement filed with the Commissioner. The agreement shall be signed and verified by a majority of the incorporators, and shall be signed (without verification) by at least two-thirds of all persons who theretofore have become subscribers to or purchasers of securities of the corporation and (in the case of a proposed mutual insurer) by at least two-thirds of all persons who theretofore have applied for policies in the proposed insurer.  2. The Commissioner shall approve the surrender of such articles of incorporation and dissolution if upon investigation the Commissioner finds that:  (a) No insurance business has been transacted by the corporation except (in the case of a proposed mutual insurer) for solicitation of qualifying applications for insurance;  (b) Arrangements satisfactory to the Commissioner have been made for the return to subscribers, purchasers and applicants of all funds paid by them upon subscription or purchase of securities, or upon applications for insurance, under the solicitation permit theretofore held by the corporation, less (as to securities subscriptions and purchases) the part thereof actually and lawfully used for expenses; and  (c) All obligations of the corporation have been paid or discharged.  3. The articles of incorporation so surrendered, together with the executed copy of the agreement, bearing thereon the endorsed approval of the Commissioner, shall be filed with the Secretary of State and thereupon the corporate existence of the corporation shall cease.  4. The provisions of NRS 696B.210 and 696B.220 (grounds for rehabilitation, liquidation of domestic insurer) do not apply to the voluntary dissolution of a proposed domestic insurer pursuant to this section.  (Added to NRS by 1971, 1796)