693A.080 - Information to stockholders and regulation of proxies: Scope of provisions.
693A.080 Information to stockholders and regulation of proxies: Scope of provisions.
1. This section and NRS 693A.090 and 693A.100 apply to all domestic stock insurers except:
(a) A domestic stock insurer having of record less than 100 holders of any class of equity securities; but if 95 percent or more of the insurer’s equity securities are owned or controlled by a parent or an affiliated insurer, this section and NRS 693A.090 and 693A.100 do not apply to such insurer unless its remaining securities are held of record by 500 or more persons; and
(b) Domestic stock insurers which, relative to the voting or other securities involved, file with the Securities and Exchange Commission forms of proxies, consents and authorizations pursuant to the Securities Exchange Act of 1934, as amended.
2. The Commissioner shall have authority to make and promulgate reasonable rules and regulations for the effectuation of this section and NRS 693A.090 and 693A.100, and in so doing shall give due consideration to rules and regulations promulgated for similar purposes by the insurance supervisory officers of other states.
(Added to NRS by 1971, 1800)