682B.030 - Securities eligible for deposit. - Nevada Statutes

682B.030  Securities eligible for deposit.

      1.  All such deposits required under NRS 680A.140 for authority to transact insurance in this state shall consist of good interest-bearing or dividend-paying securities of kinds eligible for investment of the funds of domestic insurers under NRS chapter 682A (investments).

      2.  All other deposits of a domestic insurer held in this state pursuant to the laws of another state, province or country shall be comprised of securities of the kinds described in subsection 1, and of such additional kind or kinds of securities required or permitted by the laws of such state, province or country.

      3.  Deposits of foreign insurers made in this state under NRS 680A.330 (retaliatory provision) shall consist of such assets as are required by the Commissioner pursuant to such law.

      4.  Evidences of indebtedness secured by real property shall be eligible for deposit only if the real property securing such indebtedness is situated within the State of Nevada. The evidence of indebtedness so deposited shall be accompanied by a certificate from a duly authorized title insurer doing business in the county in which the real property is situated, showing that the indebtedness is a first lien against such real property, other than for real property taxes.

      (Added to NRS by 1971, 1629)