694C.330 - Payment of dividends. - Nevada Statutes

State Codes and Statutes

Statutes > Nevada > Title-57 > Chapter-694c > Miscellaneous-provisions > 694c-330

694C.330 Payment of dividends. Except as otherwise provided in this section, a captive insurer shall pay dividends out of, or make any other distributions from, its capital or surplus, or both, in accordance with the provisions set forth in NRS 693A.140, 693A.150 and 693A.160. A captive insurer shall not pay dividends out of, or make any other distribution with respect to, its capital or surplus, or both, in violation of this section unless the captive insurer has obtained the prior approval of the Commissioner to make such a payment or distribution.

(Added to NRS by 1999, 3212)

State Codes and Statutes

Statutes > Nevada > Title-57 > Chapter-694c > Miscellaneous-provisions > 694c-330

694C.330 Payment of dividends. Except as otherwise provided in this section, a captive insurer shall pay dividends out of, or make any other distributions from, its capital or surplus, or both, in accordance with the provisions set forth in NRS 693A.140, 693A.150 and 693A.160. A captive insurer shall not pay dividends out of, or make any other distribution with respect to, its capital or surplus, or both, in violation of this section unless the captive insurer has obtained the prior approval of the Commissioner to make such a payment or distribution.

(Added to NRS by 1999, 3212)

State Codes and Statutes

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State Codes and Statutes

Statutes > Nevada > Title-57 > Chapter-694c > Miscellaneous-provisions > 694c-330

694C.330 Payment of dividends. Except as otherwise provided in this section, a captive insurer shall pay dividends out of, or make any other distributions from, its capital or surplus, or both, in accordance with the provisions set forth in NRS 693A.140, 693A.150 and 693A.160. A captive insurer shall not pay dividends out of, or make any other distribution with respect to, its capital or surplus, or both, in violation of this section unless the captive insurer has obtained the prior approval of the Commissioner to make such a payment or distribution.

(Added to NRS by 1999, 3212)