695B.150 - Insolvency; determination of financial condition. - Nevada Statutes

695B.150  Insolvency; determination of financial condition.  A corporation organized under this chapter shall be deemed to be insolvent if its reserve fund is impaired so as to be less than the amounts set forth in NRS 695B.140. For the purposes of determining such insolvency and the financial condition of the corporation, for the purposes of preparation of annual statements, and for all other purposes not otherwise expressly provided for in this chapter, the corporation is subject to all requirements of the laws of the State of Nevada as to assets, liabilities and reserves which are applicable to mutual nonassessable life or health insurers.

      (Added to NRS by 1971, 1868; A 2005, 2158)