Acquisition of control of or merger with captive insurer.

1. A person other than an issuer shall not: (a) Make a tender offer for, make a request or invitation for tenders of, or enter into any agreement to exchange securities for, any voting security of a domestic captive insurer; or (b) Seek to acquire, or acquire in the open market or otherwise, any voting security of a domestic captive insurer, Ê if, after the consummation thereof, the person would, directly or indirectly, or by conversion or exercise of any right acquired, be in control of the captive insurer. 2. A person shall not enter into an agreement to merge with, or otherwise acquire control of, a domestic captive insurer without the prior written approval of the Commissioner. 3. In considering an application for the acquisition of control or merger with a domestic captive insurer, the Commissioner will consider all the facts and circumstances surrounding the application as well as the criteria for the establishment of a captive insurer set forth in this chapter and chapter 694C of NRS.