693A.030 - Domestic insurer prohibited from engaging in other business; exceptions. - Nevada Statutes

693A.030  Domestic insurer prohibited from engaging in other business; exceptions.

      1.  Except as otherwise provided in subsections 2, 3 and 4, a domestic insurer formed before, on or after January 1, 1972, shall not engage in any business other than the insurance business and in business activities reasonably and necessarily incidental to the insurance business.

      2.  A title insurer may also engage in business as an escrow agent.

      3.  Any insurer may also engage in business activities reasonably related to the management, supervision, servicing of and protection of its interests as to its lawful investments, and to the full utilization of its facilities.

      4.  An insurer may own subsidiaries which may engage in such businesses as are provided for in NRS 682A.130.

      (Added to NRS by 1971, 1798; A 1997, 1628)