682B.130 - Deposit of assets in trust. - Nevada Statutes

682B.130  Deposit of assets in trust.

      1.  An alien insurer may use Nevada as a state of entry to transact insurance in the United States of America by making and maintaining in this state a deposit of assets in trust with a bank, credit union or trust company approved by the Commissioner.

      2.  The deposit, together with other trust deposits of the insurer held in the United States of America for the same purpose, must be in an amount not less than as required of an alien insurer under NRS 680A.140, deposit requirement in general, and must consist of United States money, public obligations of the government or states or political subdivisions of the United States of America, and obligations of corporations and institutions in the United States of America, all as eligible for the investment of money of domestic insurers under NRS 682A.060, 682A.070 and 682A.080.

      3.  Such a deposit may be referred to as “trusteed assets.”

      (Added to NRS by 1971, 1633; A 1999, 1549)