If an insurer ceases to control a subsidiary, it shall dispose of any investment therein made pursuant to NRS 692C.140 within 3 years from the time of the cessation of control or within such further time as the Commissioner may prescribe, unless any such investment shall have met the requirements for investment under any other section of this chapter, and the insurer has notified the Commissioner thereof.
NRS 692C.170
Cessation of control: Disposal of investment required; exception
Known as the Insurance Holding Company Law
The act spans §§ 692–692 (107 sections).
(Added to NRS by 1973, 1040)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.