1. Such securities are registered, or are required to be registered, pursuant to section
12 1 of the Securities Exchange Act of 1934, as amended; or
2. Such domestic stock insurer has not any class of its equity securities held of
record by 100 or more persons on the last business day of the year next preceding
the year in which equity securities of the insurer would be subject to the provisions
of NRS 694A.020, 694A.030 and 694A.040 except for the provisions of this subsection.
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