Miscellaneous investments; records.
1. An insurer may make loans or investments not otherwise expressly permitted under this chapter, in an aggregate amount not over 10 percent of the insurer’s admitted assets and not over 1 percent of those assets as to any one such loan or investment, if the loan or investment fulfills the requirements of NRS 682A.030 and otherwise qualifies as a sound investment. No such loan or investment may be represented by:
(a) Any item described in NRS 681B.020, or any loan or investment otherwise expressly prohibited.
(b) Agents’ balances, or amounts advanced to or owing by agents, except as to policy loans, mortgage loans and collateral loans otherwise authorized under this chapter.
(c) Any category of loans or investments expressly eligible under any other provision of this chapter.
(d) Any asset acquired or held by the insurer under any other category of loans or investments eligible under this chapter.
2. The insurer shall keep a separate record of all loans and investments made under this section.
Last modified: February 27, 2006