Preheat oven to 300 degrees F ( 150 degrees C ). Grease a 2 quart baking dish.
Beat together the eggs and milk. Stir in white sugar, uncooked rice, butter, vanilla extract, raisins and nutmeg. Pour in prepared pan.
Bake for 2 to 2 & 1/2 hours in pre heated oven. Stir frequently during the first hour.