State Codes and Statutes
Statutes > Nevada > Title-57 > Chapter-692c > Miscellaneous-provisions > 692c-400692C.400 Extraordinary distributions to shareholders: Conditional declaration. Notwithstanding any other provision of law, an insurer may declare an extraordinary dividend or distribution which is conditional upon the Commissioner’s approval thereof, and such a declaration shall confer no rights upon shareholders until:
1. The Commissioner has approved the payment of such dividend or distribution; or
2. The Commissioner has not disapproved such payment within the 30-day period referred to in NRS 692C.390.
(Added to NRS by 1973, 1047)
