NRS 682A.420
Tangible personal property under lease or other agreement.

1.

Subject to the limitations of NRS 682A.402, 682A.404 and 682A.406, an insurer may acquire tangible personal property or equity interests therein located or used wholly or in part within a domestic jurisdiction either directly or indirectly through limited partnership interests and general partnership interests not otherwise prohibited by paragraph (d) of subsection 1 of NRS 682A.380, joint ventures, stock of an investment subsidiary or membership interests in a limited-liability company, trust certificates or other similar instruments.

2.

Investments acquired as described in subsection 1 are eligible only if:

(a)

The property is subject to a lease or other agreement with a person whose rated credit instruments in the amount of the purchase price of the personal property the insurer could acquire in accordance with the provisions of NRS 682A.408; and

(b)

The lease or other agreement provides the insurer the right to receive rental, purchase or other fixed payments for the use or purchase of the property, and the aggregate value of the payments, together with the estimated residual value of the property at the end of its useful life and the estimated tax benefits to the insurer resulting from ownership of the property, must be adequate to return the cost of the insurer’s investment in the property, plus a return deemed adequate by the insurer.

Source: Section 682A.420 — Tangible personal property under lease or other agreement., https://www.­leg.­state.­nv.­us/NRS/NRS-682A.­html#NRS682ASec420.

682A.400
Applicability. 682A.402
Diversification of investments. 682A.404
Medium and lower grade investments. 682A.406
Canadian investments. 682A.408
Rated credit instruments. 682A.410
Insurer investment pools. 682A.412
Acquisition of equity interests generally permissible. 682A.414
Limitation on aggregate amount of investments held in equity interests. 682A.416
Restriction on mortgage or real estate holdings acquired or held as equity interests. 682A.418
Short sale of equity investments. 682A.420
Tangible personal property under lease or other agreement. 682A.422
Valuation of personal property under lease. 682A.424
Limitation on aggregate amount of investments held in personal property under lease. 682A.426
Computation of investments held as personal property under lease for purposes of investment diversification requirements. 682A.428
Exempted personal property under lease. 682A.430
Mortgage loans. 682A.432
Income-producing real estate. 682A.434
Real estate for accommodation of business operations. 682A.436
Limitation on aggregate amount of investments held in mortgage loans and real estate. 682A.438
Securities lending, repurchase, reverse repurchase and dollar roll transactions. 682A.440
Foreign investments. 682A.442
Foreign currency exposure. 682A.444
Additional foreign investment and foreign currency allowance for insurers authorized to do business in foreign jurisdiction and holding foreign contracts. 682A.446
Additional foreign investment and foreign currency allowance for insurers not authorized to do business in foreign jurisdiction but holding foreign contracts. 682A.448
Calculation of foreign investments for purposes of determining compliance with limitations. 682A.450
Derivative transactions. 682A.452
Derivative transactions: Limitations on hedging transactions. 682A.454
Derivative transactions: Limitations on income generation transactions. 682A.456
Derivative transactions: Counterparty exposure. 682A.458
Commissioner may allow additional derivative transactions by regulation 682A.460
Policy loans. 682A.462
Limited exemption from quantitative limits on certain investments. 682A.464
Limited exemption from certain restrictions on investments. 682A.466
Additional exemption from certain investment limitations with approval of Commissioner. 682A.468
Prohibitions applied to exempted investments.
Last Updated

Jun. 24, 2021

§ 682A.420’s source at nv​.us