NRS 693A.525
Unlawful acquisition of securities: Orders by Commissioner.

1.

If the Commissioner has reason to believe that any person or any director, officer, employee or agent of the person is engaged in any conduct in violation of NRS 693A.500, the Commissioner may order the person to cease and desist immediately from engaging in any further such conduct. The order is permanent unless the person, not later than 20 days after receipt of the order, files a written request for a hearing with the Commissioner.

2.

If, after a hearing pursuant to subsection 1, the Commissioner determines that such action is in the best interest of the policyholders, the creditors or the public, the Commissioner may also order the person to void any contract entered into in violation of NRS 693A.500.

3.

An order of the Commissioner pursuant to this section is a final decision in a contested case for the purpose of judicial review pursuant to chapter 233B of NRS.

Source: Section 693A.525 — Unlawful acquisition of securities: Orders by Commissioner., https://www.­leg.­state.­nv.­us/NRS/NRS-693A.­html#NRS693ASec525.

693A.400
Definitions. 693A.405
“Closed block” defined. 693A.410
“Consideration” defined. 693A.415
“Converting mutual” defined. 693A.420
“Eligible member” defined. 693A.425
“New stock insurer” defined. 693A.430
“Policyholder” defined. 693A.435
Procedure for conversion. 693A.440
Resolution by board of directors 693A.445
Application for conversion: Filing and contents 693A.450
Public hearing on application. 693A.455
Action by Commissioner on application. 693A.460
Meeting and vote of policyholders 693A.465
Abandonment of plan of conversion. 693A.470
Issuance and notice of final order approving application 693A.475
Authority of Commissioner to engage services of experts 693A.480
Confidentiality and publication of pertinent information and documents. 693A.485
Continuation of corporate existence of converting mutual. 693A.490
Purchase of stock by directors, officers, employees, agents or trustees. 693A.495
Receipt of fee, commission or other consideration for aiding, promoting or assisting in plan of conversion. 693A.500
Offers to acquire and acquisition of voting securities of new stock insurer or institution that owns majority of voting securities of new stock insurer. 693A.505
Unlawful acquisition of securities: Voting of securities prohibited 693A.510
Unlawful acquisition of securities: Seizure or sequestration of securities. 693A.515
Unlawful acquisition of securities: Imposition of administrative penalty for violation. 693A.520
Unlawful acquisition of securities: Imposition of administrative penalty against director, officer or agent. 693A.525
Unlawful acquisition of securities: Orders by Commissioner. 693A.530
Regulations and orders of Commissioner. 693A.535
Judicial review of final order of Commissioner. 693A.540
Enforcement of provisions by Commissioner.
Last Updated

Feb. 5, 2021

§ 693A.525’s source at nv​.us