Skip to main content
Find a Lawyer

Nevada Revised Statutes Title 18. State Executive Department § 231A.220. Limitations on relationship between insurer or affiliate and qualified community development entity or impact qualified community development entity

Current as of January 01, 2025 | Updated by Findlaw Staff

1. An insurer or an affiliate of an insurer may not:

(a) Manage a qualified community development entity or impact qualified community development entity; or

(b) Control the direction of equity investments for a qualified community development entity or impact qualified community development entity.

2. The provisions of subsection 1 apply to any entity described in subsection 1 regardless of whether the entity does business in this State.

3. This section does not preclude an entity described in subsection 1 from exercising legal rights or remedies, including the interim management of a qualified community development entity or impact qualified community development entity, with respect to a qualified community development entity or impact qualified community development entity that is in default of any statutory or contractual obligations to the entity described in subsection 1.

4. This chapter does not limit the amount of nonvoting equity interests in a qualified community development entity or impact qualified community development entity that an entity described in subsection 1 may own.

5. For the purposes of this section:

(a) “Affiliate of an insurer” has the meaning ascribed to the term “affiliate” in NRS 692C.030.

(b) “Insurer” has the meaning ascribed to it in NRS 679A.100.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Nevada Revised Statutes Title 18. State Executive Department § 231A.220. Limitations on relationship between insurer or affiliate and qualified community development entity or impact qualified community development entity - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-18-state-executive-department/nv-rev-st-231a-220/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard