[Rev. 11/22/2013 10:31:06 AM--2013]

[NAC-692C Revised Date: 4-12]

CHAPTER 692C - INSURANCE: HOLDING COMPANIES

692C.010         “Commissioner” defined.

692C.015         Severability.

692C.020         Form for filing statement relating to acquisition or merger.

692C.030         Forms for filing registration statement.

692C.040         Form for notice of intent to enter into transaction.

692C.045         Potential competitive impact of proposed merger or acquisition: Required notice and form.

692C.050         Additional information relating to acquisitions, mergers, registration and transactions.

 

 

 

      NAC 692C.010  “Commissioner” defined.  As used in this chapter, unless the context otherwise requires, “Commissioner” means the Commissioner of Insurance.

     (Supplied in codification)

      NAC 692C.015  Severability. (NRS 679B.130, 692C.120)  If any provision of this chapter or the application thereof to any person or circumstance is held invalid, such invalidity does not affect the provisions or application of this chapter that can be given effect without the invalid provision or application, and to this end the provisions of this chapter are declared to be severable.

     (Added to NAC by Comm’r of Insurance by R026-02, eff. 5-31-2002)

      NAC 692C.020  Form for filing statement relating to acquisition or merger. (NRS 679B.130, 692C.120, 692C.180)

     1.  A person required to file a statement with the Commissioner pursuant to NRS 692C.180 shall furnish the required information on the form provided by the Commissioner entitled “Form A - Statement Regarding the Acquisition of Control of or Merger with a Domestic Insurer.”

     2.  The person may attach any exhibit to the form if the exhibit is clearly marked to indicate the matter to which it refers.

     3.  If there is any change in the information provided on the form filed with the Commissioner before the Commissioner approves or disapproves the merger or other acquisition of control, the person shall immediately notify the Commissioner of that change.

     4.  Form A must be completed in accordance with the current version of the Insurance Holding Company System Reporting Instructions of the National Association of Insurance Commissioners and the instructions provided by the Commissioner. A copy of Form A and the general instructions for Form A may be obtained at http://www.doi.state.nv.us.

     (Added to NAC by Comm’r of Insurance, eff. 4-25-96; A by R026-02, 5-31-2002)

      NAC 692C.030  Forms for filing registration statement. (NRS 679B.130, 692C.120, 692C.270)

     1.  An insurer required to file a registration statement with the Commissioner pursuant to NRS 692C.270 shall furnish the required information on the forms provided by the Commissioner entitled “Form B - Insurance Holding Company System Annual Registration Statement” and “Form C - Summary of Registration Statement.” A domestic insurer shall file Form B and Form C with the Commissioner not later than June 30 of each year. An insurer shall file Form C with the agency that regulates insurance in each state in which the insurer is authorized to do business, if the information is requested by that agency.

     2.  The insurer may attach any exhibit to the form if the exhibit is clearly marked to indicate the matter to which it refers.

     3.  If there is any change in the information provided on Form B, the insurer shall file an amendment to that form within 15 days after the month in which the change occurred. The insurer shall file the amendment on that form by completing only those items which were affected by the change and by including, at the top of the first page of the form, “Amendment No. ........ (number of amendment) to Form B for ........ (year)” and the day and month on which the change occurred.

     4.  Form B and Form C must be completed in accordance with the current version of the Insurance Holding Company System Reporting Instructions of the National Association of Insurance Commissioners and the instructions provided by the Commissioner. A copy of Form B and Form C and the general instructions for Form B and Form C may be obtained at http://www.doi.state.nv.us.

     (Added to NAC by Comm’r of Insurance, eff. 4-25-96; A by R026-02, 5-31-2002)

      NAC 692C.040  Form for notice of intent to enter into transaction. (NRS 679B.130, 692C.120, 692C.363)

     1.  An insurer required to give notice to the Commissioner of its intention to enter into any transaction set forth in NRS 692C.363 shall furnish the required information on the form provided by the Commissioner entitled “Form D - Prior Notice of a Transaction.” The insurer may attach any exhibit to the form if the exhibit is clearly marked to indicate the matter to which it refers.

     2.  Form D must be completed in accordance with the current version of the Insurance Holding Company System Reporting Instructions of the National Association of Insurance Commissioners and the instructions provided by the Commissioner. A copy of Form D and the general instructions for Form D may be obtained at http://www.doi.state.nv.us.

     (Added to NAC by Comm’r of Insurance, eff. 4-25-96; A by R026-02, 5-31-2002)

      NAC 692C.045  Potential competitive impact of proposed merger or acquisition: Required notice and form. (NRS 679B.130, 692C.120)

     1.  An insurer shall give notice to the Commissioner of the potential competitive impact of a proposed merger or acquisition by a non-domiciliary insurer doing business in this state or by a domestic insurer on the form provided by the Commissioner entitled “Form E - Pre-Acquisition Notification Form Regarding the Potential Competitive Impact of a Proposed Merger or Acquisition by a Non-Domiciliary Insurer Doing Business in this State or by a Domestic Insurer.”

     2.  Form E must be completed in accordance with the current version of the Insurance Holding Company System Reporting Instructions of the National Association of Insurance Commissioners and the instructions provided by the Commissioner. A copy of Form E and the general instructions for Form E may be obtained at http://www.doi.state.nv.us.

     (Added to NAC by Comm’r of Insurance by R026-02, eff. 5-31-2002)

      NAC 692C.050  Additional information relating to acquisitions, mergers, registration and transactions. (NRS 679B.130, 692C.120)  After receiving any form specified in NAC 692C.020 to 692C.045, inclusive, the Commissioner may request additional information if it is necessary to clarify any information included on the form.

     (Added to NAC by Comm’r of Insurance, eff. 4-25-96; A by R026-02, 5-31-2002)