Nevada Administrative Code
Chapter 694C - Captive Insurers
MISCELLANEOUS PROVISIONS
Section 694C.310 - Acquisition of control of or merger with captive insurer
Universal Citation: NV Admin Code 694C.310
Current through December 31, 2024
1. A person other than an issuer shall not:
(a) Make a tender offer for, make a request or invitation for tenders of, or enter into any agreement to exchange securities for, any voting security of a domestic captive insurer; or
(b) Seek to acquire, or acquire in the open market or otherwise, any voting security of a domestic captive insurer, if, after the consummation thereof, the person would, directly or indirectly, or by conversion or exercise of any right acquired, be in control of the captive insurer.
2. A person shall not enter into an agreement to merge with, or otherwise acquire control of, a domestic captive insurer without the prior written approval of the Commissioner.
3. In considering an application for the acquisition of control or merger with a domestic captive insurer, the Commissioner will consider all the facts and circumstances surrounding the application as well as the criteria for the establishment of a captive insurer set forth in this chapter and chapter 694C of NRS.
Added to NAC by Comm'r of Insurance by R125-99, eff. 1-27-2000
NRS 679B.130, 694C.170
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