reglab/housing_qa huggingface dataset:
NV Rev Stat § 692C.254 (2021)
2021 Nevada Revised Statutes|Chapter 692C - Holding Companies|NRS 692C.254 - Form of notice; waiting period.

  1. An acquisition to which the provisions of NRS 692C.252 apply is subject to an order issued pursuant to NRS 692C.258 unless:  (a) The acquiring person files a notice of acquisition pursuant to this section; and  (b) The waiting period specified in subsection 4 has expired.  2. The Commissioner shall prescribe the form of the notice required pursuant to subsection 1. A notice of acquisition filed pursuant to this section must include:  (a) The information required by the NAIC relating to any market that, pursuant to subsection 5 of NRS 692C.252, causes the acquisition not to be exempted from the provisions of this section; and  (b) Any other material or information required by the Commissioner to determine whether or not the proposed acquisition, if consummated, would violate the provisions of NRS 692C.256.  3. The information required pursuant to subsection 2 may include the opinion of an economist relating to the competitive effect of the acquisition on the business of insurance in this state if the opinion is accompanied by a summary of the education and experience of the economist and a statement indicating the ability of the economist to provide an informed opinion.  4. Except as otherwise provided in subsection 5, the waiting period for an acquisition required pursuant to subsection 1 begins on the date the Commissioner receives the notice filed pursuant to subsection 1 and ends on the expiration of 30 days after that date or on the expiration of a shorter period prescribed by the Commissioner, whichever is earlier.  5. Before the expiration of the waiting period specified in subsection 4, the Commissioner may, not more than once, require a person to submit additional information relating to the proposed acquisition. If the Commissioner requires the submission of additional information, the waiting period for the acquisition ends upon the expiration of 30 days after the Commissioner receives the additional information or upon the expiration of a shorter period prescribed by the Commissioner, whichever is earlier.  (Added to NRS by 2003, 3319; A 2015, 3496)
NV Rev Stat § 692C.260 (2021)
2021 Nevada Revised Statutes|Chapter 692C - Holding Companies|NRS 692C.260 - Registration required; person within insurance holding company system subject to registration required to provide information to insurer.

  1. Every insurer which is authorized to do business in this state and which is a member of an insurance holding company system shall register with the Commissioner, except a foreign insurer subject to disclosure requirements and standards adopted by a statute or regulation in the jurisdiction of its domicile which are substantially similar to those contained in NRS 692C.260 to 692C.350, inclusive.  2. Any insurer which is subject to registration under NRS 692C.260 to 692C.350, inclusive, shall register not later than September 1, 1973, or 15 days after it becomes subject to registration, whichever is later, and annually thereafter by June 30 of each year for the immediately preceding calendar year, unless the Commissioner for good cause shown extends the time for registration. The Commissioner may require any authorized insurer which is a member of a holding company system which is not subject to registration under this section to furnish a copy of the registration statement or other information filed by the insurance company with the insurance regulatory authority of domiciliary jurisdiction.  3. Any person within an insurance holding company system subject to registration shall, upon request by an insurer, provide complete and accurate information to the insurer if the information is reasonably necessary to enable the insurer to comply with the provisions of this section.  (Added to NRS by 1973, 1044; A 2003, 3325; 2015, 3499)
NV Rev Stat § 692C.270 (2021)
2021 Nevada Revised Statutes|Chapter 692C - Holding Companies|NRS 692C.270 - Contents of registration statement; statement relating to corporate oversight; financial statements.

Every insurer subject to registration shall file:  1. A registration statement with the Commissioner, on a form and in a format prescribed by the Commissioner, which must contain current information about:  (a) The capital structure, general financial condition, ownership and management of the insurer and any person controlling the insurer.  (b) The identity of every member of the insurance holding company system.  (c) The following agreements in force, relationships subsisting and transactions currently outstanding between the insurer and its affiliates:  (1) Loans, other investments or purchases, sales or exchanges of securities of the affiliates by the insurer or of the insurer by its affiliates.  (2) Purchases, sales or exchanges of assets.  (3) Transactions not in the ordinary course of business.  (4) Guarantees or undertakings for the benefit of an affiliate which result in an actual contingent exposure of the insurer’s assets to liability, other than insurance contracts entered into in the ordinary course of the insurer’s business.  (5) All management and service contracts and all cost-sharing arrangements, other than cost allocation arrangements based upon generally accepted accounting principles.  (6) Reinsurance agreements covering all or substantially all of one or more lines of insurance of the ceding company.  (7) Any dividend or other distribution made to a shareholder.  (8) Any consolidated agreement to allocate taxes.  (d) Any pledge of the insurer’s stock, including the stock of any subsidiary or controlling affiliate of the insurer, for a loan made to any member of the insurance holding company system.  (e) Any other matters concerning transactions between registered insurers and any affiliates as may be included from time to time in any registration forms adopted or approved by the Commissioner.  2. A statement verifying that:  (a) The board of directors of the insurer oversees the corporate governance and internal controls of the insurer; and  (b) Officers or senior management of the insurer have approved, implemented and continue to maintain and monitor the corporate governance and internal controls of the insurer.  3. Financial statements of the insurance holding company system and all affiliates, if requested by the Commissioner. This requirement may be satisfied by providing the most recent statement filed with the United States Securities and Exchange Commissioner pursuant to the Securities Act of 1933, 15 U.S.C. §§ 78a et seq., by the insurance holding company system or its parent corporation.  (Added to NRS by 1973, 1044; A 2003, 3325; 2013, 3366; 2015, 3499)
NV Rev Stat § 692C.280 (2021)
2021 Nevada Revised Statutes|Chapter 692C - Holding Companies|NRS 692C.280 - Registration statement: Exempt information.

No information need be disclosed on the registration statement filed pursuant to NRS 692C.270 if such information is not material for the purposes of NRS 692C.260 to 692C.350, inclusive. Unless the Commissioner by rule, regulation or order provides otherwise, sales, purchases, exchanges, loans or extensions of credit, or investments involving one-half of 1 percent or less of an insurer’s admitted assets as of the 31st day of December next preceding, shall not be deemed material for purposes of NRS 692C.260 to 692C.350, inclusive.  (Added to NRS by 1973, 1045)
NV Rev Stat § 692C.290 (2021)
2021 Nevada Revised Statutes|Chapter 692C - Holding Companies|NRS 692C.290 - Registration statement: Amendment; report of distributions to shareholders; report of enterprise risk; failure to submit report basis for action by Commissioner.

  1. Each registered insurer shall keep current the information required to be disclosed in its registration statement by reporting all material changes or additions on forms provided by the Commissioner within 15 days after the end of the month in which it learns of each such change or addition, and not less often than annually, except that, subject to the provisions of NRS 692C.390, each registered insurer shall report all dividends and other distributions to shareholders within 5 business days following the declaration and 10 days before payment.  2. The principal of a registered insurer shall file an annual report of enterprise risk pursuant to this subsection. If the principal of a registered insurer does not file a report of enterprise risk with the commissioner of the lead state of the insurance company system, as determined by the most recent edition of the Financial Analysis Handbook, published by the NAIC, in a calendar year, the principal shall file a report of enterprise risk with the Commissioner. The principal shall include in the report the material risks within the insurance holding company system that, to the best of his or her knowledge and belief, may pose enterprise risk to the registered insurer.  3. Whenever it appears to the Commissioner that any person has committed a violation of subsection 2 which prevents the full understanding of the enterprise risk to the insurer by affiliates or by the insurance holding company system, the violation may serve as an independent basis for disapproving dividends or distributions and for conducting an examination of the insurer pursuant to NRS 679B.230 to 679B.287, inclusive.  (Added to NRS by 1973, 1045; A 1995, 1776; 2013, 3367; 2015, 3500)
NV Rev Stat § 692C.300 (2021)
2021 Nevada Revised Statutes|Chapter 692C - Holding Companies|NRS 692C.300 - Termination of registration.

The Commissioner shall terminate the registration of any insurer which demonstrates that it no longer is a member of an insurance holding company system.  (Added to NRS by 1973, 1045)
NV Rev Stat § 692C.310 (2021)
2021 Nevada Revised Statutes|Chapter 692C - Holding Companies|NRS 692C.310 - Consolidated registration.

The Commissioner may require or allow two or more affiliated insurers subject to registration hereunder to file a consolidated registration statement or consolidated reports amending their consolidated registration statement or their individual registration statements.  (Added to NRS by 1973, 1045)
NV Rev Stat § 692C.320 (2021)
2021 Nevada Revised Statutes|Chapter 692C - Holding Companies|NRS 692C.320 - Registration on behalf of affiliated insurer.

The Commissioner may allow an insurer which is authorized to do business in this state and which is part of an insurance holding company system to register on behalf of any affiliated insurer which is required to register under NRS 692C.260, and to file all information and material required to be filed under NRS 692C.260 to 692C.350, inclusive.  (Added to NRS by 1973, 1045)
NV Rev Stat § 692C.330 (2021)
2021 Nevada Revised Statutes|Chapter 692C - Holding Companies|NRS 692C.330 - Disclaimer of affiliation; disallowance.

  1. Any person may file with the Commissioner:  (a) A disclaimer of affiliation with any authorized insurer specified in the disclaimer; or  (b) A request for a termination of registration on the basis that the person does not, or will not after taking an action specified in the request for termination, control another person specified in the request.  2. A disclaimer of affiliation or request for a termination of registration specified in subsection 1 may be filed by the authorized insurer or any member of an insurance holding company system. A disclaimer of affiliation or request for a termination of registration filed pursuant to subsection 1 must include:  (a) A statement indicating the number of authorized, issued and outstanding voting securities of the person specified in the disclaimer of affiliation or request for a termination of registration;  (b) A statement indicating the number and percentage of shares of the person specified in the disclaimer of affiliation or request for a termination of registration that are owned or beneficially owned by the person disclaiming control, and the number of those shares for which the person disclaiming control has a direct or indirect right to acquire;  (c) A statement setting forth all material relationships and bases for affiliation between the person specified in the disclaimer of affiliation or request for a termination of registration and the person and any affiliate of the person who is disclaiming control of the person specified in the disclaimer of affiliation or request for a termination of registration; and  (d) An explanation of why the person who is disclaiming control does not control the person specified in the disclaimer of affiliation or request for a termination of registration.  3. A request for a termination of registration filed pursuant to subsection 1 shall be deemed granted upon filing unless the Commissioner, within 30 days after receipt of the request for a termination of registration, notifies the person, authorized insurer or member of an insurance holding company system that the request is denied.  4. A disclaimer of affiliation filed pursuant to subsection 1 shall be deemed granted unless the Commissioner, within 30 days after receipt of a complete disclaimer of affiliation, notifies the filing party that the disclaimer of affiliation is disallowed. In the event of disallowance, the disclaiming party may request an administrative hearing, which shall be granted. The disclaiming party is relieved of its duty to register pursuant to NRS 692C.260 to 692C.350, inclusive, if approval of the disclaimer of affiliation has been granted by the Commissioner, or if the disclaimer of affiliation is deemed approved.  (Added to NRS by 1973, 1046; A 2003, 3326; 2015, 3500)
NV Rev Stat § 692C.340 (2021)
2021 Nevada Revised Statutes|Chapter 692C - Holding Companies|NRS 692C.340 - Exemptions.

The provisions of NRS 692C.260 to 692C.350, inclusive, shall not apply to any insurer, information or transaction if and to the extent that the Commissioner by rule, regulation or order shall exempt the same from the provisions of NRS 692C.260 to 692C.350, inclusive.  (Added to NRS by 1973, 1046)
NV Rev Stat § 692C.350 (2021)
2021 Nevada Revised Statutes|Chapter 692C - Holding Companies|NRS 692C.350 - Violations; penalties.

  1. The failure to file a registration statement or summary or any amendment thereto, or a report of enterprise risk, required by NRS 692C.260 to 692C.350, inclusive, within the time specified for the filing is a violation of NRS 692C.260 to 692C.350, inclusive.  2. Except as otherwise provided in subsection 3, if an insurer fails, without just cause, to file a registration statement required pursuant to NRS 692C.270 to 692C.350, inclusive, the insurer shall, after receiving notice and a hearing, pay a civil penalty of $100 for each day the insurer fails to file the registration statement. The civil penalty may be recovered in a civil action brought by the Commissioner. Any civil penalty paid pursuant to this subsection must be deposited in the State General Fund.  3. The maximum civil penalty that may be imposed pursuant to subsection 2 is $20,000. The Commissioner may reduce the amount of the civil penalty if the insurer demonstrates to the satisfaction of the Commissioner that the payment of the civil penalty would impose a financial hardship on the insurer.  4. Any officer, director or employee of an insurance holding company system who willfully and knowingly subscribes to or makes or causes to be made any false statement, false report or false filing with the intent to deceive the Commissioner in the performance of his or her duties pursuant to NRS 692C.260 to 692C.350, inclusive, is guilty of a category D felony and shall be punished as provided in NRS 193.130. The officer, director or employee is personally liable for any fine imposed against the officer, director or employee pursuant to that section.  (Added to NRS by 1973, 1046; A 2003, 3327; 2015, 3501)
NV Rev Stat § 692C.3501 (2021)
2021 Nevada Revised Statutes|Chapter 692C - Holding Companies|NRS 692C.3501 - "Corporate governance annual disclosure" defined.

As used in NRS 692C.3501 to 692C.3509, inclusive, unless the context otherwise requires, "corporate governance annual disclosure" means a confidential report filed by an insurer or insurance group made in accordance with the requirements of NRS 692C.3501 to 692C.3509, inclusive.  (Added to NRS by 2017, 64)
NV Rev Stat § 692C.3503 (2021)
2021 Nevada Revised Statutes|Chapter 692C - Holding Companies|NRS 692C.3503 - Applicability and scope.

  1. The requirements of NRS 692C.3501 to 692C.3509, inclusive, apply to all insurers domiciled in this State, including, without limitation:  (a) Insurers, as identified in chapter 680A of NRS;  (b) Hospital, medical or dental service corporations, as identified in chapter 695B of NRS;  (c) Health maintenance organizations, as identified in chapter 695C of NRS;  (d) Plans for dental care, as identified in chapter 695D of NRS;  (e) Prepaid limited health service organizations, as identified in chapter 695F of NRS; and  (f) Risk retention groups and state-chartered risk retention groups, as identified in 15 U.S.C. § 3902, 42 U.S.C. § 9673 and chapters 694C and 695E of NRS.  2. Except as otherwise provided in subsection 3, nothing in NRS 692C.3501 to 692C.3509, inclusive, shall be construed to limit the Commissioner’s authority, or the rights or obligations of third parties, under NRS 679B.230 to 679B.300, inclusive.  3. Nothing in NRS 692C.3501 to 692C.3509, inclusive, shall be construed to prescribe or impose corporate governance standards and internal procedures beyond those which are required by the appropriate provisions of title 7 of NRS.  (Added to NRS by 2017, 63)
NV Rev Stat § 692C.3505 (2021)
2021 Nevada Revised Statutes|Chapter 692C - Holding Companies|NRS 692C.3505 - Rules, regulations and orders.

The Commissioner may, upon notice and opportunity for all interested persons to be heard, issue such rules, regulations and orders as are necessary to carry out the provisions of NRS 692C.3501 to 692C.3509, inclusive.  (Added to NRS by 2017, 65)
NV Rev Stat § 692C.3506 (2021)
2021 Nevada Revised Statutes|Chapter 692C - Holding Companies|NRS 692C.3506 - Contents and preparation; regulations.

  1. Except as otherwise provided in subsection 2, an insurer or insurance group may exercise discretion over the responses to inquiries in the corporate governance annual disclosure if the corporate governance annual disclosure contains the material information necessary to allow the Commissioner to gain an understanding of the corporate governance structure, policies and practices of the insurer or insurance group. The Commissioner may request additional information that he or she determines is material and necessary to gain a clear understanding of the corporate governance policies or the reporting, information system or controls implementing the corporate governance policies of the insurer or insurance group.  2. Each insurer or insurance group shall prepare its corporate governance annual disclosure in a manner that is consistent with the instructions adopted by the Commissioner by regulation for the corporate governance annual disclosure. The insurer or insurance group shall maintain documentation and supporting information and make such material available upon examination or request by the Commissioner.  (Added to NRS by 2017, 65)
NV Rev Stat § 692C.3509 (2021)
2021 Nevada Revised Statutes|Chapter 692C - Holding Companies|NRS 692C.3509 - Penalties.

  1. If an insurer or insurance group fails, without just cause, to timely file a corporate governance annual disclosure as required in NRS 692C.3501 to 692C.3509, inclusive, the insurer or insurance group shall, after receiving notice and a hearing, pay a civil penalty of $1,500 for each day the insurer or insurance group fails to file the corporate governance annual disclosure. The civil penalty may be recovered in a civil action brought by the Commissioner. Any civil penalty paid pursuant to this subsection must be deposited into the State General Fund.  2. The maximum civil penalty that may be imposed pursuant to subsection 1 is $100,000. The Commissioner may reduce the amount of the civil penalty if the insurer or insurance group demonstrates to the satisfaction of the Commissioner that the payment of the civil penalty would constitute a financial hardship on the insurer or insurance group.  (Added to NRS by 2017, 68)
NV Rev Stat § 692C.351 (2021)
2021 Nevada Revised Statutes|Chapter 692C - Holding Companies|NRS 692C.351 - Risk management framework required.

An insurer shall maintain a risk management framework to assist the insurer with identifying, assessing, monitoring, managing and reporting on its material relevant risks. This requirement shall be deemed satisfied if the insurance group of which the insurer is a member maintains a risk management framework applicable to the operations of the insurer.  (Added to NRS by 2015, 3486)
NV Rev Stat § 692C.3512 (2021)
2021 Nevada Revised Statutes|Chapter 692C - Holding Companies|NRS 692C.3512 - Own Risk and Solvency Assessment requirement.

Subject to the provisions of NRS 692C.352 to 692C.353, inclusive, an insurer, or the insurance group of which the insurer is a member, shall regularly conduct an ORSA consistent with a process comparable to that set forth in the ORSA Guidance Manual. An ORSA must be conducted not less than annually but also at any time when there are significant changes to the risk profile of the insurer or the insurance group of which the insurer is a member.  (Added to NRS by 2015, 3486)
NV Rev Stat § 692C.3514 (2021)
2021 Nevada Revised Statutes|Chapter 692C - Holding Companies|NRS 692C.3514 - Filing of ORSA Summary Report.

Upon the request of the Commissioner, and not more than once each year, an insurer shall submit to the Commissioner an ORSA Summary Report or any combination of reports that together contain the information described in the ORSA Guidance Manual, applicable to the insurer and the insurance group of which the insurer is a member. Notwithstanding any request from the Commissioner, if the insurer is a member of an insurance group, the insurer shall submit the report required by this section if the Commissioner is the lead state commissioner of the insurance group as determined by the procedures within the Financial Analysis Handbook, published by the NAIC.  (Added to NRS by 2015, 3486)
NV Rev Stat § 692C.3516 (2021)
2021 Nevada Revised Statutes|Chapter 692C - Holding Companies|NRS 692C.3516 - Required attestation of ORSA Summary Report.

The report required by NRS 692C.3514 must include a signature of the insurer or insurance group’s chief risk officer, or other executive having responsibility for the oversight of the insurer’s enterprise risk management process, attesting to the best of his or her belief and knowledge that the insurer applies the enterprise risk management processes described in the ORSA Summary Report and that a copy of the Report has been provided to the insurer’s board of directors or the appropriate committee thereof.  (Added to NRS by 2015, 3487)
NV Rev Stat § 692C.3518 (2021)
2021 Nevada Revised Statutes|Chapter 692C - Holding Companies|NRS 692C.3518 - Acceptable alternative to ORSA Summary Report.

An insurer may comply with the requirements of NRS 692C.3514 by providing the most recent and substantially similar report provided by the insurer or another member of an insurance group of which the insurer is a member to the commissioner of another state or to a supervisor or regulator of a foreign jurisdiction, if that report provides information that is comparable to the information described in the ORSA Guidance Manual. Any such report in a language other than English must be accompanied by a translation of that report into the English language.  (Added to NRS by 2015, 3487)