Nev. Rev. Stat. § 231A.220
Limitations on relationship between insurer or affiliate and qualified community development entity or impact qualified community development entity
Nevada · Nevada Revised Statutes Chapter 231A — Nevada New Markets Jobs Act · Status: effective
Cite this
- Citation
- Nev. Rev. Stat. § 231A.220, Limitations on relationship between insurer or affiliate and qualified community development entity or impact qualified community development entity, Nevada, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2092570
- Permanent ID
ys:prov:2092570@1- SHA-256
a99cbe8773f793d44bb4c0c53aa833b2a404ba6bb4c36becf4a19f05f4144a5e
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
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.