No group annuity may be delivered or issued for delivery in this state to a group which was principally formed for the purpose of purchasing one or more group annuities.

Terms Used In Nevada Revised Statutes 688A.430

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
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