NRS 693A.600
Abandonment of plan of reorganization.

A mutual insurer may, by not less than a two-thirds vote of the members of its board of directors and with the approval of the Commissioner, abandon a plan of reorganization at any time before the issuance of the certificate of authority by the Commissioner pursuant to NRS 693A.605. Upon abandonment, all rights and obligations arising out of the plan of reorganization terminate and the mutual insurer shall continue to conduct its business as a domestic mutual insurer as though no plan of reorganization had ever been adopted.

Source: Section 693A.600 — Abandonment of plan of reorganization., https://www.leg.state.nv.us/NRS/NRS-693A.html#NRS693ASec600.

693A.550
Definitions. 693A.555
“Intermediate stock holding company” defined. 693A.560
“Mutual insurance holding company” defined. 693A.565
“Reorganized stock insurer” defined. 693A.570
“Voting securities” defined. 693A.575
Procedure for reorganization. 693A.580
Proposed plan of reorganization: Filing and contents 693A.585
Public hearing on proposed plan. 693A.590
Action by Commissioner on proposed plan 693A.595
Meeting and vote of policyholders 693A.600
Abandonment of plan of reorganization. 693A.605
Issuance and effect of certificate of authority. 693A.610
Authority of Commissioner to engage services of experts 693A.615
Confidentiality and publication of pertinent information and documents. 693A.620
Continuation of corporate existence of mutual insurer. 693A.625
Issuance of initial shares of capital stock 693A.630
Conversion of mutual insurance holding company to domestic stock insurance company not prohibited. 693A.635
Membership interest in mutual insurance holding company is not security. 693A.640
Receipt of fee, commission or other consideration for aiding, promoting or assisting in plan of reorganization. 693A.645
Mutual insurance holding company: Annual filing requirements. 693A.650
Mutual insurance holding company: Production of records, books or other information and papers. 693A.655
Regulations and orders of Commissioner. 693A.660
Judicial review of final order of Commissioner. 693A.665
Enforcement of provisions by Commissioner.

Last Updated

Feb. 5, 2021

§ 693A.600’s source at nv.us

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Location: https://nevada.public.law/statutes/nrs_693a.600

Original Source: Section 693A.600 — Abandonment of plan of reorganization., https://www.leg.state.nv.us/NRS/NRS-693A.html#NRS693ASec600 (last accessed Feb. 5, 2021).