1. An insurer may invest in the stock of a subsidiary insurance corporation formed or acquired by it, or in the stock of a subsidiary business corporation formed and engaged solely in any one or more of the following businesses:
(a) A business necessary and incidental to the convenient operation of the insurer’s insurance business or to the administration of any of its lawful affairs;
(b) Providing any actuarial, computer, data processing, accounting, claims, appraisal, collection, sales, loss prevention or safety engineering and similar services;
(c) Real property management and development;
(d) Premium financing;
(e) Financing of agents of the insurer;
(f) Acting as investment adviser and principal underwriter or investment adviser or principal underwriter of a management company or management companies (mutual funds), registered as such under the Investment Company Act of 1940;
(g) Financial and investment counseling services;
(h) Administration of self-insurance plans;
(i) Administration of self-insured pension and similar plans, or the self-insured portions of such plans;
(j) Securities broker-dealer;
(k) Escrow services;
(l) Trust services with respect to funds payable or paid by it under its insurance contracts;
(m) Bank, savings and loan association or thrift company; or
(n) Insurance agency.
2. For the purposes of this section, a “subsidiary” is a corporation of which the insurer owns sufficient stock to give it effective control.
3. All of the insurer’s investments under this section shall be deemed to be common stocks for the purposes of the limitation imposed by NRS 682A.110 on the percentage of admitted assets which may be invested in common stock.
(Added to NRS by 1971, 1623; A 1991, 255; 2001, 2189)
1. An insurer may invest in the stock of a subsidiary insurance corporation formed or acquired by it, or in the stock of a subsidiary business corporation formed and engaged solely in any one or more of the following businesses:
(a) A business necessary and incidental to the convenient operation of the insurer’s insurance business or to the administration of any of its lawful affairs;
(b) Providing any actuarial, computer, data processing, accounting, claims, appraisal, collection, sales, loss prevention or safety engineering and similar services;
(c) Real property management and development;
(d) Premium financing;
(e) Financing of agents of the insurer;
(f) Acting as investment adviser and principal underwriter or investment adviser or principal underwriter of a management company or management companies (mutual funds), registered as such under the Investment Company Act of 1940;
(g) Financial and investment counseling services;
(h) Administration of self-insurance plans;
(i) Administration of self-insured pension and similar plans, or the self-insured portions of such plans;
(j) Securities broker-dealer;
(k) Escrow services;
(l) Trust services with respect to funds payable or paid by it under its insurance contracts;
(m) Bank, savings and loan association or thrift company; or
(n) Insurance agency.
2. For the purposes of this section, a “subsidiary” is a corporation of which the insurer owns sufficient stock to give it effective control.
3. All of the insurer’s investments under this section shall be deemed to be common stocks for the purposes of the limitation imposed by NRS 682A.110 on the percentage of admitted assets which may be invested in common stock.
(Added to NRS by 1971, 1623; A 1991, 255; 2001, 2189)
1. An insurer may invest in the stock of a subsidiary insurance corporation formed or acquired by it, or in the stock of a subsidiary business corporation formed and engaged solely in any one or more of the following businesses:
(a) A business necessary and incidental to the convenient operation of the insurer’s insurance business or to the administration of any of its lawful affairs;
(b) Providing any actuarial, computer, data processing, accounting, claims, appraisal, collection, sales, loss prevention or safety engineering and similar services;
(c) Real property management and development;
(d) Premium financing;
(e) Financing of agents of the insurer;
(f) Acting as investment adviser and principal underwriter or investment adviser or principal underwriter of a management company or management companies (mutual funds), registered as such under the Investment Company Act of 1940;
(g) Financial and investment counseling services;
(h) Administration of self-insurance plans;
(i) Administration of self-insured pension and similar plans, or the self-insured portions of such plans;
(j) Securities broker-dealer;
(k) Escrow services;
(l) Trust services with respect to funds payable or paid by it under its insurance contracts;
(m) Bank, savings and loan association or thrift company; or
(n) Insurance agency.
2. For the purposes of this section, a “subsidiary” is a corporation of which the insurer owns sufficient stock to give it effective control.
3. All of the insurer’s investments under this section shall be deemed to be common stocks for the purposes of the limitation imposed by NRS 682A.110 on the percentage of admitted assets which may be invested in common stock.
(Added to NRS by 1971, 1623; A 1991, 255; 2001, 2189)
