Nac: Chapter 682A - Insurance: Investments

Link to law: http://www.leg.state.nv.us/nac/NAC-682A.html
Published: 2015

[Rev. 11/22/2013 10:24:29

AM--2013]



[NAC-682A Revised Date: 3-12]

CHAPTER 682A - INSURANCE: INVESTMENTS

682A.100         Adoption by reference of Purposes

and Procedures Manual of the NAIC Securities Valuation Office.

682A.110         Domestic insurers and health

organizations: Filing and rating of applicable investments; nonadmitted assets;

exempt investments.

 

 

 

      NAC 682A.100  Adoption by reference of Purposes and Procedures Manual of the

NAIC Securities Valuation Office. (NRS 679B.130)  The Purposes

and Procedures Manual of the NAIC Securities Valuation Office is hereby

adopted by reference. A copy of the publication may be obtained from the

National Association of Insurance Commissioners, Publications Department, 2301

McGee Street, Suite 800, Kansas City, Missouri 64108-2662, or at the Internet

address http://www.naic.org/, for the price of $50.

     (Added to NAC by Comm’r of Insurance by R245-03, eff. 7-26-2004;

A by R172-08, 2-11-2009)

      NAC 682A.110  Domestic insurers and health organizations: Filing and rating of

applicable investments; nonadmitted assets; exempt investments. (NRS 679B.130)

     1.  Except as otherwise provided in

subsection 4, a domestic insurer or health organization that is regulated

pursuant to title 57 of NRS shall file with and have its applicable investments

rated by the Securities Valuation Office of the National Association of

Insurance Commissioners, 48 Wall Street, 6th Floor, New York, New York

10005-2906.

     2.  Each applicable investment must be

reported to the Securities Valuation Office within 120 days after the

investment is acquired.

     3.  The Division of Insurance of the

Department of Business and Industry may consider an applicable investment as a

nonadmitted asset if it is rated by the Securities Valuation Office:

     (a) With a designation of NR.

     (b) With a designation of Z on any date that is

more than 240 days after the date of the acquisition of the investment.

     4.  A domestic insurer or health organization

is exempt from filing its applicable investments with the Securities Valuation

Office if the investments qualify for the provisionally exempt provisions of

the Purposes and Procedures Manual of the NAIC Securities Valuation Office.

     (Added to NAC by Comm’r of Insurance by R245-03, eff. 7-26-2004;

A by R172-08, 2-11-2009)
Read Entire Law on www.leg.state.nv.us