2019 Nevada Revised Statutes
Chapter 682A - Investments
NRS 682A.406 - Canadian investments.
1. An insurer shall not acquire, directly or indirectly through an investment subsidiary, a Canadian investment authorized by the provisions of this chapter if, as a result of and after giving effect to the investment, the aggregate amount of these investments held by the insurer would exceed 40 percent of its admitted assets, or if the aggregate amount of Canadian investments not acquired in accordance with the provisions of paragraph (c) or (d) of subsection 1 of NRS 682A.408 held by the insurer would exceed 25 percent of its admitted assets.
2. As to an insurer that is authorized to do business in Canada or that has outstanding insurance, annuity or reinsurance contracts on lives or risks resident or located in Canada and denominated in Canadian currency, the limitations in subsection 1 must be increased by the greater of:
(a) The amount the insurer is required by Canadian law to invest in Canada or to be denominated in Canadian currency; or
(b) An amount not to exceed 115 percent of the amount of its reserves and other obligations under contracts on lives or risks resident or located in Canada.
(Added to NRS by 2015, 3434)
