Public-domain · open source
OpenJurist

NRS 692C.3528

Authority of Commissioner to impose certain requirements on exempt insurer

Known as the Insurance Holding Company Law

The act spans §§ 692–692 (107 sections).

(Added to NRS by 2015, 3488)

Notwithstanding the provisions of NRS 692C.352 to 692C.3526, inclusive:

1. The Commissioner may require that an insurer maintain a risk management framework, conduct an ORSA and file an ORSA Summary Report based on unique circumstances, including, without limitation, the type and volume of business written, ownership and organizational structure, federal agency requests and international supervisor requests.

2. The Commissioner may require that an insurer maintain a risk management framework, conduct an ORSA and file an ORSA Summary Report if the insurer has risk-based capital for company action level event, as defined in regulations adopted by the Commissioner, meets one or more of the standards of an insurer deemed to be in hazardous financial condition, as defined in NRS 680A.205, or otherwise exhibits qualities of a troubled insurer as determined by the Commissioner.

Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.