Solvent scheme of arrangement defined.
Nev. Rev. Stat. § 681A.068
in effectSolvent scheme of arrangement means a foreign or alien statutory or regulatory compromise procedure subject to requisite majority creditor approval and judicial sanction in the assuming insurers home jurisdiction either to finally commute liabilities of duly noticed classed members or creditors of a solvent debtor, or to reorganize or restructure the debts and obligations of a solvent debtor on a final basis, and which may be subject to judicial recognition and enforcement of the arrangement by a governing authority outside the ceding insurers home jurisdiction.
Source: NV Statutes (Official Site)URL: https://www.leg.state.nv.us/nrs/NRS-681A.htmlFetched: 10/4/2026