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Nevada Revised Statutes Title 57. Insurance § 692C.400. Extraordinary distributions to shareholders: Conditional declaration

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

Notwithstanding any other provision of law, an insurer may declare an extraordinary dividend or distribution which is conditional upon the Commissioner's approval thereof, and such a declaration shall confer no rights upon shareholders until:

1. The Commissioner has approved the payment of such dividend or distribution; or

2. The Commissioner has not disapproved such payment within the 30-day period referred to in NRS 692C.390.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 57. Insurance § 692C.400. Extraordinary distributions to shareholders: Conditional declaration - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-57-insurance/nv-rev-st-692c-400/

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