Nevada Revised Statutes 692B.050 – ‘Insurance holding corporation’ defined; Massachusetts trusts
Current as of: 2023 | Check for updates
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1. As used in this Code, an insurance holding corporation is a corporation, whether or not incorporated under the laws of this state, owning or holding, or proposing to own or hold, a controlling stock interest in a domestic stock insurer. Shares owned directly or indirectly by the corporation or by its subsidiary or affiliate corporation, firm or organization, or by its officers, directors or principal stockholders, shall be deemed to be owned or held by the corporation for the purposes of this section.
Terms Used In Nevada Revised Statutes 692B.050
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
2. For the purposes of this chapter that type of organization known as a ‘Massachusetts trust’ shall be deemed to be a corporation.