NAC682A.110. Domestic insurers and health organizations: Filing and rating of applicable investments; nonadmitted assets; exempt investments.

     1. Except as otherwise provided in subsection 4, a domestic insurer or health organization that is regulated pursuant to title 57 of NRS shall file with and have its applicable investments rated by the Securities Valuation Office of the National Association of Insurance Commissioners, 48 Wall Street, 6th Floor, New York, New York 10005-2906.

     2. Each applicable investment must be reported to the Securities Valuation Office within 120 days after the investment is acquired.

     3. The Division of Insurance of the Department of Business and Industry may consider an applicable investment as a nonadmitted asset if it is rated by the Securities Valuation Office:

     (a) With a designation of NR.

     (b) With a designation of Z on any date that is more than 240 days after the date of the acquisition of the investment.

     4. A domestic insurer or health organization is exempt from filing its applicable investments with the Securities Valuation Office if the investments qualify for the provisionally exempt provisions of the Purposes and Procedures Manual of the NAIC Securities Valuation Office.

     (Added to NAC by Comm’r of Insurance by R245-03, eff. 7-26-2004; A by R172-08, 2-11-2009)