Chapter 44 — INSURANCE
2,728 sections in this chapter.
Repealed. Laws 2001, LB 51, § 42.
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[Repealed or reserved.]
Repealed. Laws 2001, LB 51, § 42.
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[Repealed or reserved.]
Repealed. Laws 2001, LB 51, § 42.
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[Repealed or reserved.]
Repealed. Laws 2001, LB 51, § 42.
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[Repealed or reserved.]
Repealed. Laws 2001, LB 51, § 42.
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[Repealed or reserved.]
Transferred to section 44-4067.
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[Repealed or reserved.]
Neb. Rev. Stat. § 44-4047 Act, how cited.
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Sections 44-4047 to 44-4069 shall be known and may be cited as the Insurance Producers Licensing Act.
Neb. Rev. Stat. § 44-4048 Purpose; applicability.
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(1) The Insurance Producers Licensing Act governs the qualifications and procedures for the licensing of insurance producers. The act is intended to improve efficiency, permit the use of new technology, and reduce costs associated with issuing and renewing insurance licenses. (2)…
Neb. Rev. Stat. § 44-4049 Terms, defined.
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For purposes of the Insurance Producers Licensing Act: (1) Business entity means a corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity; (2) Director means the Director of Insurance; (3) Home state means the state …
Neb. Rev. Stat. § 44-405 Life insurance; loan values.
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(1) In the case of those policies issued prior to the operative date defined in section 44-407.07 (the Standard Nonforfeiture Law), the loan value referred to in provision (8) of section 44-502 shall be the reserve at the end of the current policy year on the policy and on any di…
Neb. Rev. Stat. § 44-4050 Licensure required; enforcement.
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A person shall not sell, solicit, or negotiate insurance in this state for any class or classes of insurance unless the person is licensed for that line of authority in accordance with the Insurance Producers Licensing Act. A person who sells, solicits, or negotiates insurance in…
Neb. Rev. Stat. § 44-4051 Licensure; exceptions.
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(1) Nothing in the Insurance Producers Licensing Act shall be construed to require an insurer to obtain an insurance producer license. For purposes of this section, the term insurer does not include an insurer's officers, directors, employees, subsidiaries, or affiliates. (2) The…
Neb. Rev. Stat. § 44-4052 Licensure examination; requirements.
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(1) A resident individual applying for an insurance producer license shall pass a written examination unless exempt pursuant to section 44-4056 or 44-4069 or subsection (4) of section 44-9304. The examination shall test the knowledge of the individual concerning the lines of auth…
Neb. Rev. Stat. § 44-4053 Licensure application; approval requirements; program of instruction.
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(1) A person applying for a resident insurance producer license shall make application to the director on the uniform application and declare under penalty of denial, suspension, or revocation of the license that the statements made in the application are true, correct, and compl…
Neb. Rev. Stat. § 44-4054 License; lines of authority; renewal; procedure; licensee; duties; director; powers.
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(1) Unless denied licensure pursuant to section 44-4059, a person who has met the requirements of sections 44-4052 and 44-4053 shall be issued an insurance producer license. An insurance producer may receive qualification for a license in one or more of the following lines of aut…
Neb. Rev. Stat. § 44-4055 Nonresident license; requirements; revocation; grounds; hearing.
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(1) Unless denied licensure pursuant to section 44-4059, a nonresident person shall receive a nonresident insurance producer license if: (a) The person is currently licensed as a resident and in good standing in his or her home state; (b) The person has submitted the proper reque…
Neb. Rev. Stat. § 44-4056 Examination; exemptions.
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(1) An individual who applies for an insurance producer license in this state who was previously licensed for the same lines of authority in another state shall not be required to complete any examination. This exemption is only available if the person is currently licensed in th…
Neb. Rev. Stat. § 44-4057 Assumed name; duties.
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An insurance producer doing business under any name other than the producer's legal name shall notify the director prior to using the assumed name.
Neb. Rev. Stat. § 44-4058 Temporary license; requirements; limitations.
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(1) The director may issue a temporary insurance producer license for a period not to exceed one hundred eighty days without requiring an examination if the director deems that the temporary license is necessary for the servicing of an insurance business in the following cases: (…
Neb. Rev. Stat. § 44-4059 Disciplinary actions; administrative fine; procedure.
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(1) The director may suspend, revoke, or refuse to issue or renew an insurance producer's license or may levy an administrative fine in accordance with subsection (5) of this section, or any combination of actions, for any one or more of the following causes: (a) Providing incorr…
Neb. Rev. Stat. § 44-406 Life insurance; nonforfeiture benefits.
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This section shall apply only to policies of life insurance issued prior to the operative date defined in section 44-407.07 (the Standard Nonforfeiture Law). The nonforfeiture benefit referred to in provision (9) of section 44-502 shall be available to the owner of the policy, in…
Neb. Rev. Stat. § 44-4060 Payments; restrictions.
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(1) An insurer or insurance producer shall not pay a commission, service fee, brokerage, or other valuable consideration to a person for selling, soliciting, or negotiating insurance in this state if that person is required to be licensed under the Insurance Producers Licensing A…
Neb. Rev. Stat. § 44-4061 Appointed agent; requirements; fees.
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(1) An insurance producer shall not act as an agent of an insurer unless the insurance producer becomes an appointed agent of that insurer. An insurance producer who is not acting as an agent of an insurer is not required to become appointed. (2) To appoint an insurance producer …
Neb. Rev. Stat. § 44-4062 Business relationship; termination; requirements; procedure; administrative fine.
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(1) An insurer or authorized representative of the insurer that terminates the appointment, employment, contract, or other insurance business relationship with an insurance producer shall notify the director within thirty days following the effective date of the termination, if t…
Neb. Rev. Stat. § 44-4063 Licensure requirements; waiver; when.
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(1) The director shall waive any requirements for a nonresident insurance producer license applicant with a valid license from his or her home state, except the requirements imposed by section 44-4055, if the applicant's home state awards nonresident licenses to residents of this…
Neb. Rev. Stat. § 44-4064 Fees.
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(1) Before any license or appointment is issued or renewed under the Insurance Producers Licensing Act or before any appointment is terminated, the person requesting such license shall pay or cause to be paid to the director the following fee or fees, if applicable, as establishe…
Neb. Rev. Stat. § 44-4065 Reports.
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(1) An insurance producer shall report to the director any administrative action taken against the producer in another jurisdiction, by a professional self-regulatory organization such as the Financial Industry Regulatory Authority or a similar organization, or by another governm…
Neb. Rev. Stat. § 44-4066 Rules and regulations.
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The director may adopt and promulgate rules and regulations to carry out the Insurance Producers Licensing Act.
Neb. Rev. Stat. § 44-4067 Rental car company; limited license; fee.
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(1) The director may issue to a rental car company that has complied with this section a limited license authorizing the limited licensee to act as an insurance producer with reference to the kinds of insurance specified in this section for any insurer authorized to write such ki…
Repealed. Laws 2022, LB863, § 41.
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[Repealed or reserved.]
Neb. Rev. Stat. § 44-4069 Operator of self-service storage facility; limited license; applicant; application fee; renewal fee; director; powers; order; appeal; disclosures; training program; records; prohibited acts.
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(1) The director may issue to the operator of a self-service storage facility that has complied with this section a limited license to act as an insurance producer with reference to the kinds of insurance specified in this section for any insurer authorized to write such kinds of…
Neb. Rev. Stat. § 44-407 Standard Nonforfeiture Law for Life Insurance; how cited.
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Sections 44-407 to 44-407.09 and 44-407.24 to 44-407.26 shall be known as the Standard Nonforfeiture Law for Life Insurance.
Neb. Rev. Stat. § 44-407.01 Policies issued on or after operative date of law; provisions required.
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In the case of policies issued on or after the operative date of this section, as defined in section 44-407.07, no policy of life insurance, except as stated in section 44-407.06, shall be delivered or issued for delivery in this state unless it shall contain in substance the fol…
Neb. Rev. Stat. § 44-407.02 Policies issued on or after operative date of law; default in premium payment on policy anniversary; cash surrender value.
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Any cash surrender value available under the policy in the event of default in a premium payment due on any policy anniversary, whether or not required by section 44-407.01, shall be an amount not less than the excess, if any, of the present value, on such anniversary, of the fut…
Neb. Rev. Stat. § 44-407.03 Policies issued on or after operative date of law; default in premium payment on policy anniversary; paid-up nonforfeiture benefit.
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Any paid-up nonforfeiture benefit available under the policy in the event of default in a premium payment due on any policy anniversary shall be such that its present value as of such anniversary shall be at least equal to the cash surrender value then provided for by the policy …
Neb. Rev. Stat. § 44-407.04 Policies issued on or after operative date of law; adjusted premiums; basis of calculation; exception.
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(a) Except as provided in subsection (c) of this section, the adjusted premiums for any policy shall be calculated on an annual basis and shall be such uniform percentage of the respective premiums specified in the policy for each policy year, excluding any extra premiums charged…
Neb. Rev. Stat. § 44-407.05 Policies issued on or after operative date of law; default in premium payment other than on policy anniversary; cash surrender value; paid-up nonforfeiture benefit.
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Any cash surrender value and any paid-up nonforfeiture benefit, available under the policy in the event of default in a premium payment due at any time other than on the policy anniversary, shall be calculated with allowance for the lapse of time and the payment of fractional pre…
Neb. Rev. Stat. § 44-407.06 Law; policies to which applicable.
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Sections 44-407 to 44-407.09 and 44-407.24 to 44-407.26 shall not apply to any (1) reinsurance, (2) group insurance, (3) pure endowment, (4) annuity or reversionary annuity contract, (5) term policy of uniform amount which provides no guaranteed nonforfeiture or endowment benefit…
Neb. Rev. Stat. § 44-407.07 Law; operative date, defined.
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After August 27, 1943, any company may file with the Department of Insurance a written notice of its election to comply with the provisions of sections 44-407 to 44-407.07 after a specified date before January 1, 1950. After the filing of such notice, then upon such specified dat…
Neb. Rev. Stat. § 44-407.08 Policies issued on or after operative date of law; adjusted premiums; present values; how determined; filing of election; exception.
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This section shall not apply to ordinary policies issued on or after the operative date of section 44-407.24 as defined therein. In the case of ordinary policies issued on or after the operative date of this section as defined herein, all adjusted premiums and present values refe…
Neb. Rev. Stat. § 44-407.09 Industrial policies issued on or after operative date of law; premiums and values; how calculated; tables used; written notice filed with department; election; exception.
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This section shall not apply to industrial policies issued on or after the operative date of section 44-407.24 as defined therein. In the case of industrial policies issued on or after the operative date of this section, all adjusted premiums and present values referred to in sec…
Neb. Rev. Stat. § 44-407.10 Standard Nonforfeiture Law for Individual Deferred Annuities; how cited; applicability.
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(1) Sections 44-407.10 to 44-407.23 shall be known as the Standard Nonforfeiture Law for Individual Deferred Annuities. (2) Such sections shall not apply to any reinsurance, group annuity purchased under a retirement plan or plan of deferred compensation established or maintained…
Neb. Rev. Stat. § 44-407.11 Contracts issued on or after operative date of law; provisions required.
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In the case of contracts issued on or after the operative date of this act, no contract of annuity, except as stated in subsection (2) of section 44-407.10, shall be delivered or issued for delivery in this state unless it contains in substance the following provisions, or corres…
Neb. Rev. Stat. § 44-407.12 Deferred annuity contract; company; terminate; cash payment.
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Notwithstanding the requirements of section 44-407.11, any deferred annuity contract may provide that if no considerations have been received under a contract for a period of two full years and the portion of the paid-up annuity benefit at maturity on the plan stipulated in the c…
Neb. Rev. Stat. § 44-407.13 Minimum values; basis.
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The minimum values as specified in sections 44-407.16 to 44-407.19 and 44-407.21 of any paid-up annuity, cash surrender, or death benefits available under an annuity contract shall be based upon minimum nonforfeiture amounts as defined in section 44-407.14.
Neb. Rev. Stat. § 44-407.14 Minimum nonforfeiture amount; how computed.
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(1)(a) The minimum nonforfeiture amount at any time at or prior to the commencement of any annuity payments shall be equal to an accumulation up to such time at rates of interest as set forth in subsection (2) of this section of the net considerations paid prior to such time, dec…
Repealed. Laws 2004, LB 1047, § 25.
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[Repealed or reserved.]
Neb. Rev. Stat. § 44-407.16 Paid-up annuity benefit; present value; how computed.
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Any paid-up annuity benefit available under a contract shall be such that its present value on the date annuity payments are to commence is at least equal to the minimum nonforfeiture amount on that date. Such present value shall be computed using the mortality table, if any, and…
Neb. Rev. Stat. § 44-407.17 Cash surrender benefits; present value; determination.
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For contracts which provide cash surrender benefits, such cash surrender benefits available prior to maturity shall not be less than the present value as of the date of surrender of that portion of the maturity value of the paid-up annuity benefit which would be provided under th…
Neb. Rev. Stat. § 44-407.18 Contracts without cash surrender benefits; certain death benefit contracts; present value; determination.
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For contracts which do not provide cash surrender benefits, the present value of any paid-up annuity benefit available as a nonforfeiture option at any time prior to maturity shall not be less than the present value of that portion of the maturity value of the paid-up annuity ben…