2021 Nevada Revised Statutes
Chapter 681B - Assets and Liabilities
NRS 681B.310 - Commissioner authorized to exempt certain policies and contracts from provisions of Valuation Manual; alternate applicable provisions; applicability.
1. The Commissioner may exempt specific product forms or product lines of a domestic company that is licensed and doing business only in this State from the requirements of NRS 681B.300, if:
(a) The Commissioner has issued to the company a written exemption and has not subsequently revoked that written exemption; and
(b) The company computes reserves using assumptions and methods that were used before the operative date of the Valuation Manual, in addition to complying with any applicable requirements established in regulations adopted by the Commissioner.
2. If a company is granted an exemption as described in subsection 1, the provisions of NRS 681B.110 to 681B.260, inclusive, apply to that company.
3. The provisions of this section apply only on or after the operative date of the Valuation Manual.
(Added to NRS by 2015, 3399)
