NRS 693A.340
Preservation of old charter in merger or consolidation.


1.

In any merger or consolidation of a foreign stock or mutual insurer into or with a domestic insurer under NRS 693A.330 or 693A.350, and if so provided in accordance with this section, the continuing Nevada corporation shall for all purposes be deemed to be a continuation of the corporate existence of the foreign corporation, with Nevada as the adoptive state of domicile and with date of corporate origin the same as the original date of incorporation of the foreign insurer in its original domiciliary state or country, subject to the following conditions:

(a)

The plan and agreement for merger or consolidation shall provide for such continuation of corporate existence through designation of Nevada as the state of domicile of the foreign corporation by adoption, and shall specify the original date of incorporation of the foreign corporation in its original domiciliary state or country as being the date of incorporation of the Nevada corporation pursuant to this section.

(b)

The articles of incorporation of the Nevada corporation shall provide, or be amended to provide, that the corporation is a continuance of the corporate existence, through adoption of the State of Nevada as the corporate domicile, of the foreign corporation, and shall specify the original date of incorporation of the foreign corporation in its original domiciliary state or country as being the date of incorporation of the Nevada corporation pursuant to this section.

2.

The continuing Nevada corporation shall have all the rights and obligations of, and be given recognition in all respects as, a corporation formed under the laws of this state as of the date of incorporation of the foreign corporation in its original domiciliary state or country. This provision shall not be deemed to impose upon the continuing Nevada corporation any liability or obligation with respect to filings, fees, taxes or otherwise which might have accrued prior to the effective date of the merger or consolidation.

3.

This section shall not be deemed in any manner to preserve, after the effective date of such merger or consolidation, the corporate existence of such foreign corporation as a corporation of its original domiciliary state or country.

Source: Section 693A.340 — Preservation of old charter in merger or consolidation., https://www.­leg.­state.­nv.­us/NRS/NRS-693A.­html#NRS693ASec340.

693A.010
Scope.
693A.020
Applicability of statutes relating to corporations.
693A.030
Domestic insurer prohibited from engaging in other business
693A.040
Principal offices.
693A.050
Books, records, documents, accounts and vouchers.
693A.060
Assets to be kept in State
693A.070
Removal or concealment of records or assets.
693A.080
Information to stockholders and regulation of proxies: Scope of provisions.
693A.090
Information to stockholders and regulation of proxies: Information in advance of meetings.
693A.100
Information to stockholders and regulation of proxies: Solicitation and form of proxies.
693A.110
Management and agency contracts
693A.120
Prohibited pecuniary interest of officers
693A.130
Liability of officers and others for paying taxes, licenses and fees.
693A.140
Dividends to stockholders.
693A.150
Participating policies.
693A.160
Dividends to policyholders.
693A.170
Purchase of own shares by stock insurer.
693A.180
Borrowing.
693A.190
Mutual insurers: Additional kinds of insurance.
693A.200
Mutual insurers: Membership.
693A.210
Mutual insurers: Bylaws.
693A.220
Mutual insurers: Contingent liability of members.
693A.230
Mutual insurers: Levy of contingent liability.
693A.240
Mutual insurers: Enforcement of contingent liability.
693A.250
Mutual insurers: Nonassessable policies
693A.260
Impairment of capital, surplus or assets: Notice
693A.270
Impairment of capital, surplus or assets: Curing deficiency
693A.280
Impairment of capital, surplus or assets: Violation of restrictions
693A.290
Mutualization of stock insurer.
693A.300
Conversion to ordinary business corporation.
693A.310
Affiliation of stock insurers.
693A.320
Acquisition of controlling stock.
693A.330
Merger or consolidation of stock insurers.
693A.340
Preservation of old charter in merger or consolidation.
693A.350
Merger or consolidation of mutual insurers.
693A.365
Assumption of reinsurance: Limitations
693A.370
Bulk reinsurance: Limitation
693A.380
Bulk reinsurance: Certificate of fees and commissions
693A.390
Member’s share of assets on liquidation.
Last Updated

Feb. 5, 2021

§ 693A.340’s source at nv​.us