reglab/housing_qa huggingface dataset:
NV Rev Stat § 682A.504 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.504 - Required reserve amount.

  1. For the purposes of determining the amount of assets to be maintained in accordance with this section, the calculation of adjusted loss reserves and loss adjustment expense reserves, adjusted unearned premium reserves and statutorily required policy and contract reserves must be based on the amounts reported as of the most recent annual or quarterly statement date.  2. Adjusted loss reserves and loss adjustment expense reserves must be, for each individual line of business, equal to the sum derived by multiplying the amount obtained pursuant to paragraph (a) by the amount obtained pursuant to paragraph (b), and subtracting from the product obtained by way of that multiplication the amount obtained pursuant to paragraph (c), as follows:  (a) The result of each amount reported by the insurer as losses and loss adjustment expenses unpaid for each accident year for each individual line of business.  (b) The discount factor that is applicable to the line of business and accident year published by the Internal Revenue Service in accordance with the provisions of section 846 of the Internal Revenue Code, 26 U.S.C. § 846, as amended, for the calendar year that corresponds to the most recent annual statement of the insurer.  (c) Accrued retrospective premiums discounted by an average discount factor. The discount factor used in this paragraph must be calculated by dividing the losses and loss adjustment expenses unpaid after discounting by loss and loss adjustment expense reserves before discounting the amount obtained pursuant to paragraph (a).  3. For purposes of the calculations required pursuant to subsection 2, the losses and loss adjustment expenses unpaid must be determined net of anticipated salvage and subrogation, and gross of any discount for the time value of money or tabular discount.  4. Adjusted unearned premium reserves must be equal to the sum derived by subtracting the amount obtained pursuant to paragraph (b) from the amount obtained pursuant to paragraph (a), as follows:  (a) The amount reported by the insurer as unearned premium reserves.  (b) The admitted asset amounts reported by the insurer as:  (1) Premiums in and agent’s balances in the course of collection, accident and health premiums due and unpaid and uncollected premiums for accident and health premiums;  (2) Premiums, agent’s balances and installments booked but deferred and not yet due; and  (3) Bills receivable, taken for premium.  5. Statutorily required policy and contract reserves also must include, without limitation, any required contingency reserves, including, without limitation, in the case of a mortgage guaranty insurer, the amounts required by NRS 681B.100.  (Added to NRS by 2015, 3448)
NV Rev Stat § 682A.506 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.506 - Required reporting of reserves.

A property and casualty, financial guaranty, mortgage guaranty or accident and health insurer shall supplement its annual statement with a reconciliation and summary of its assets and reserve requirements as required in NRS 682A.502 and 682A.504. A reconciliation and summary showing that an insurer’s assets as required in NRS 682A.502 and 682A.504 are greater than or equal to its undiscounted reserves referred to in NRS 682A.502 and 682A.504 is sufficient to satisfy this requirement. Upon prior notification, the Commissioner may require an insurer to submit such a reconciliation and summary with any quarterly statement filed during the calendar year.  (Added to NRS by 2015, 3449)
NV Rev Stat § 682A.508 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.508 - Notification to Commissioner of insufficient reserves.

If a property and casualty, financial guaranty, mortgage guaranty or accident and health insurer’s assets and reserves do not comply with NRS 682A.502 and 682A.504, the insurer shall notify the Commissioner immediately of the amount by which the reserve requirements exceed the annual statement value of the qualifying assets, explain why the deficiency exists and, within 30 days after the date of the notice, propose a plan of action to remedy the deficiency.  (Added to NRS by 2015, 3449)
NV Rev Stat § 682A.510 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.510 - Authority of Commissioner to remedy insufficient reserves.

  1. If the Commissioner determines that an insurer is not in compliance with NRS 682A.502 and 682A.504, the Commissioner shall require the insurer to eliminate the condition causing the noncompliance within a specified time after the date on which the notice of the Commissioner’s requirements is mailed or delivered to the insurer.  2. If an insurer fails to comply with the Commissioner’s requirements that are imposed pursuant to subsection 1, the insurer is deemed to be in hazardous financial condition and the Commissioner shall take one or more of the actions authorized by law as to insurers in hazardous financial condition.  (Added to NRS by 2015, 3449)
NV Rev Stat § 682A.512 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.512 - 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 5 percent of its admitted assets in investments of all kinds issued, assumed, accepted, insured or guaranteed by a single person.  2. The limitation in subsection 1 does 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 limitation 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 5 percent of its admitted assets.  (Added to NRS by 2015, 3450)
NV Rev Stat § 682A.514 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.514 - 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.518, 682A.530 to 682A.538, inclusive, or 682A.550 to 682A.558, inclusive, or counterparty exposure in accordance with the provisions of NRS 682A.566 if, as a result of and after giving effect to the investment:  (a) The aggregate amount of all 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 5 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; or  (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.  2. An insurer shall not acquire, directly or indirectly through an investment subsidiary, an investment in accordance with the provisions of NRS 682A.518, 682A.530 to 682A.538, inclusive, or 682A.550 to 682A.558, inclusive, or counterparty exposure in accordance with the provisions of NRS 682A.566 if, as a result of and after giving effect to the investment:  (a) 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 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  (b) The aggregate amount of lower grade investments issued, assumed, guaranteed, accepted or insured by any one person or, as to asset-backed securities 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.  3. If an insurer attains or exceeds the limit of any one rating category referred to in this section, the insurer must not be precluded from acquiring investments in other rating categories subject to the specific and multicategory limits applicable to those investments.  (Added to NRS by 2015, 3450)
NV Rev Stat § 682A.516 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.516 - Canadian investments.

  1. An insurer shall not acquire, directly or indirectly through an investment subsidiary, any Canadian investments 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 paragraph (c) or (d) of subsection 1 of NRS 682A.518 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) One hundred twenty-five percent of the amount of its reserves and other obligations under contracts on risks resident or located in Canada.  (Added to NRS by 2015, 3451)
NV Rev Stat § 682A.522 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.522 - Acquisition of equity interests generally permissible.

Subject to the limitations of NRS 682A.512, 682A.514 and 682A.516, an insurer may acquire equity interests in business entities organized in accordance with the laws of any domestic jurisdiction.  (Added to NRS by 2015, 3454)
NV Rev Stat § 682A.524 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.524 - 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.522 to 682A.528, 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 the provisions of those sections would exceed the greater of 25 percent of the insurer’s admitted assets or 100 percent of the insurer’s surplus as regards policyholders.  (Added to NRS by 2015, 3454)
NV Rev Stat § 682A.526 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.526 - 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.522 to 682A.528, inclusive, any investments that the insurer may acquire in accordance with the provisions of NRS 682A.540 to 682A.546, inclusive.  (Added to NRS by 2015, 3454)
NV Rev Stat § 682A.528 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.528 - 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 instrument exercisable within 6 months after the short sale.  (Added to NRS by 2015, 3455)
NV Rev Stat § 682A.530 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.530 - Tangible personal property under lease or other agreement.

  1. Subject to the limitations of NRS 682A.512, 682A.514 and 682A.516, 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.518; 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, 3455)
NV Rev Stat § 682A.532 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.532 - Valuation of personal property under lease.

The insurer shall compute the amount of each investment entered into in accordance with the provisions of NRS 682A.530 to 682A.538, 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, 3455)
NV Rev Stat § 682A.534 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.534 - 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.530 to 682A.538, 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.530 to 682A.538, 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, 3455)
NV Rev Stat § 682A.536 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.536 - 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.512, 682A.514 and 682A.516, investments acquired by an insurer in accordance with the provisions of NRS 682A.530 to 682A.538, inclusive, must be aggregated with those acquired in accordance with the provisions of NRS 682A.518, and each lessee of the property in accordance with a lease referred to in NRS 682A.530 to 682A.538, 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.532.  (Added to NRS by 2015, 3455)
NV Rev Stat § 682A.538 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.538 - Exempted personal property under lease.

Nothing in NRS 682A.530 to 682A.538, 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, 3455)
NV Rev Stat § 682A.542 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.542 - 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 interests. 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.546.  (Added to NRS by 2015, 3457)
NV Rev Stat § 682A.544 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.544 - 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 filed 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.542 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.546.  4. For 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 insurer whose insurance premiums and required statutory reserves for accident and health insurance constitute at least 95 percent of total premium considerations or total statutory required reserves, respectively. An insurer may acquire real estate used for these purposes under NRS 682A.542.  (Added to NRS by 2015, 3457)
NV Rev Stat § 682A.546 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.546 - Limitation on aggregate amount of investments held in mortgage loans and real estate.

  1. An insurer shall not acquire an investment in accordance with the provisions of NRS 682A.540 if, as a result of and after giving effect to the investment, the aggregate amount of all investments held by the insurer pursuant to that section would exceed:  (a) One percent of its admitted assets in mortgage loans covering any one secured location;  (b) One-quarter of one percent of its admitted assets in construction loans covering any one secured location; or  (c) One percent of its admitted assets in construction loans in the aggregate.  2. An insurer shall not acquire an investment under NRS 682A.542 if, as a result of and after giving effect to the investment and any outstanding guarantees made by the insurer in connection with the investment, the aggregate amount of investments held by the insurer under NRS 682A.542 plus the guarantees outstanding would exceed:  (a) One percent of its admitted assets in any one parcel or group of contiguous parcels of real estate, except that this limitation does not apply to that portion of real estate used for the direct provision of health care services by an insurer whose insurance premiums and required statutory reserves for accident and health insurance constitute at least 95 percent of total premium considerations or total statutory required reserves, respectively, including, without limitation, hospitals, medical clinics, medical professional buildings or other health facilities used for the purpose of providing health services; or  (b) The lesser of 10 percent of its admitted assets or 40 percent of its surplus as regards policyholders in the aggregate, except for an insurer whose insurance premiums and required statutory reserves for accident and health insurance constitute at least 95 percent of total premium considerations or total statutory required reserves, respectively, this limitation must be increased to 15 percent of its admitted assets in the aggregate.  3. An insurer shall not acquire an investment pursuant to NRS 682A.540 or 682A.542 if, as a result of and after giving effect to the investment and any guarantees it has made in connection with the investment, the aggregate amount of all investments held by the insurer in accordance with the provisions of those sections plus the guarantees outstanding would exceed 25 percent of the insurer’s admitted assets.  4. The limitations of NRS 682A.512, 682A.514 and 682A.516 do not apply to an insurer’s acquisition of real estate under NRS 682A.544. An insurer shall not acquire real estate under NRS 682A.544 if, as a result of and after giving effect to the acquisition, the aggregate amount of real estate held by the insurer in accordance with that section would exceed 10 percent of its admitted assets. With the permission of the Commissioner, additional amounts of real estate may be acquired under NRS 682A.544.  (Added to NRS by 2015, 3458)
NV Rev Stat § 682A.550 (2021)
2021 Nevada Revised Statutes|Chapter 682A - Investments|NRS 682A.550 - Foreign investments.

Subject to the limitations of NRS 682A.512, 682A.514 and 682A.516, an insurer may acquire foreign investments, or engage in investment practices with persons of, or in, foreign jurisdictions, of substantially the same types as those that an insurer is allowed to acquire pursuant to this chapter, other than of the type allowed under NRS 682A.520 if, as a result of and after giving effect to the investment:  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 5 percent of its admitted assets as to any other foreign jurisdiction.  (Added to NRS by 2015, 3460)