Nevada Revised Statutes 682A.426 – Computation of investments held as personal property under lease for purposes of investment diversification requirements
Current as of: 2023 | Check for updates
|
Other versions
For the purposes of determining compliance with the limitations of NRS 682A.402, 682A.404 and 682A.406, investments acquired by an insurer in accordance with the provisions of NRS 682A.420 to 682A.428, inclusive, must be aggregated with those acquired in accordance with the provisions of NRS 682A.408, and each lessee of the property under a lease referred to in NRS 682A.420 to 682A.428, inclusive, shall be deemed the issuer of an obligation in the amount of the investment of the insurer in the property determined as provided in NRS 682A.422.
Terms Used In Nevada Revised Statutes 682A.426
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.