Chapter 44 — INSURANCE
2,728 sections in this chapter.
Neb. Rev. Stat. § 44-4301 Act, how cited.
0.1K chars
Sections 44-4301 to 44-4339 shall be known and may be cited as the Intergovernmental Risk Management Act.
Neb. Rev. Stat. § 44-4302 Legislative findings.
0.9K chars
The Legislature hereby finds and declares that protection against losses due to liability and damage or loss of property and provision of employee benefit plans is essential to the proper functioning of state and local government. The resources of state and local governmental age…
Neb. Rev. Stat. § 44-4303 Terms, defined.
4.3K chars
For purposes of the Intergovernmental Risk Management Act, unless the context otherwise requires: (1) Accident insurance means insurance against loss of expense resulting from the sickness of the insured, from the bodily injury or death of the insured by accident, or both; (2) De…
Neb. Rev. Stat. § 44-4304 Risk management pool; agreements authorized.
1.4K chars
(1) Any two or more public agencies may make and execute an agreement providing for joint and cooperative action in accordance with the Intergovernmental Risk Management Act to form, become members of, and operate a risk management pool for the purpose of providing to members ris…
Neb. Rev. Stat. § 44-4305 Risk management pool; powers.
0.5K chars
(1) Any risk management pool organized pursuant to the Intergovernmental Risk Management Act, whether or not a body corporate, shall have the power to sue and be sued, make contracts, hold and dispose of real and personal property, borrow money, contract debt, and pledge any pool…
Neb. Rev. Stat. § 44-4306 Risk management pool; agreement; contents.
2.4K chars
Any agreement entered into for the purpose of establishing and operating a risk management pool shall provide: (1) A financial plan setting forth in general terms the: (a) Types of insurance coverage to be offered by the pool, applicable deductible levels, and maximum level of cl…
Neb. Rev. Stat. § 44-4307 Certificate of authority; issuance; fee.
1.5K chars
(1) A risk management pool shall not provide any form of group self-insurance to its members until it has received a certificate of authority to do so from the Department of Insurance. Such certificate shall expire on the last day of April in each year and shall be renewed annual…
Neb. Rev. Stat. § 44-4308 Rules and regulations.
0.9K chars
The Department of Insurance may adopt and promulgate reasonable rules and regulations (1) requiring a risk management pool to maintain reserves similar to those required of a domestic insurance company offering the same coverage as the group self-insurance coverage offered by a p…
Neb. Rev. Stat. § 44-4309 Risk management pool; termination of participation; effect.
1.7K chars
(1) A member of a risk management pool may voluntarily terminate its participation in the pool by giving written notice to the other members of the pool and the Director of Insurance at least ninety days prior to the desired termination date. Such voluntary termination shall be a…
Neb. Rev. Stat. § 44-4310 Risk management pool; report; examination.
1.5K chars
(1) On or before March 1 of each year after a risk management pool has received a certificate of authority as prescribed in section 44-4307, it shall make and file with the Department of Insurance a report of its affairs and operations during the last preceding calendar year. Suc…
Neb. Rev. Stat. § 44-4311 Risk management pool; dissolution.
0.3K chars
A risk management pool shall not be voluntarily dissolved or otherwise cease to function without written approval by the Director of Insurance after he or she has determined that all claims and other legal obligations of the pool have been paid or that adequate provisions for suc…
Neb. Rev. Stat. § 44-4312 Risk management pool; deficiency; assessment required.
1.4K chars
(1) If the assets of a risk management pool are at any time insufficient to enable the pool to discharge its liabilities and other obligations and to maintain adequate reserves and surpluses in accordance with reasonable determinations by the Department of Insurance, the pool sha…
Neb. Rev. Stat. § 44-4313 Risk management pool; investment of funds.
0.2K chars
The capital, surplus, and other funds, or any part thereof, of any risk management pool may be invested as authorized under the Insurers Investment Act for an insurer.
Neb. Rev. Stat. § 44-4314 Rules and regulations.
0.2K chars
The Department of Insurance may, after notice and hearing, adopt and promulgate such reasonable rules and regulations as may be necessary or proper to carry out the provisions of sections 44-4306 to 44-4314, 44-4319, and 44-4320.
Neb. Rev. Stat. § 44-4315 Risk management pool; applicability of insurance laws.
0.7K chars
Notwithstanding any other provision of law to the contrary, (1) any risk management pool organized pursuant to the Intergovernmental Risk Management Act shall not be considered an insurance company or insurer under the laws of this state, (2) any agreement forming a risk manageme…
Neb. Rev. Stat. § 44-4316 Funds, how construed.
0.1K chars
Funds set aside by any public agency for a risk management pool shall not be construed to be a cash reserve or a sinking fund.
Neb. Rev. Stat. § 44-4317 Public agency; tax levy; agreements; authorized.
2.5K chars
(1)(a) Any public agency which has the authority to levy a tax shall be authorized to levy a tax, to contract indebtedness, and to issue general obligation bonds payable from such a tax levy to pay the premium costs of general liability insurance, property insurance, workers' com…
Neb. Rev. Stat. § 44-4318 Funds or reserve; disclosure; discovery.
0.7K chars
Information regarding that portion of the funds or liability reserve of a risk management pool established for the purpose of satisfying a specific claim or cause of action shall be exempt from disclosure under sections 84-712 to 84-712.09. Notwithstanding any other provision of …
Neb. Rev. Stat. § 44-4319 Workers' compensation coverage; requirements; court; powers.
0.4K chars
(1) All risk management pools shall comply with the Nebraska Workers' Compensation Act and all rules of the Nebraska Workers' Compensation Court. (2) The Nebraska Workers' Compensation Court may, as provided by section 48-146.02, revoke or suspend the authority of a risk manageme…
Neb. Rev. Stat. § 44-4320 Payment to director; computation.
1.9K chars
Every risk management pool shall pay to the Director of Insurance, on or before March 1 of each year, an amount equal to five-tenths of one percent of annual contributions received by the pool less any amount paid for excess or aggregate insurance during the immediately preceding…
Neb. Rev. Stat. § 44-4321 Bonds; issuance.
0.7K chars
Subject only to any agreement with the holders of outstanding bonds, a risk management pool may issue such types of bonds as its board may determine, including bonds as to which the principal and interest are payable exclusively from all or a portion of the revenue from one or mo…
Neb. Rev. Stat. § 44-4322 Bonds; amount.
0.4K chars
A risk management pool may from time to time issue its bonds in such principal amounts as its board of directors deems necessary to provide sufficient funds to carry out any of the risk management pool's purposes and powers, including the establishment or increase of reserves and…
Neb. Rev. Stat. § 44-4323 Liability for bonds.
0.7K chars
(1) Neither the members of a risk management pool's board of directors nor any person executing the bonds shall be liable personally on such bonds by reason of the issuance thereof. (2) The bonds shall not be a debt, liability, or general obligation of any member of a risk manage…
Neb. Rev. Stat. § 44-4324 Bonds; issuance; terms.
1.0K chars
Bonds shall be authorized by resolution of the issuing risk management pool's board of directors, may be issued under a resolution or under a trust indenture or other security instrument in one or more series, and shall bear such date or dates, mature at such time or times, bear …
Neb. Rev. Stat. § 44-4325 Bonds; negotiable; sale.
0.4K chars
(1) Except as the issuing risk management pool's board of directors may otherwise provide, any bond and any interest coupons thereto attached shall be fully negotiable within the meaning and for all purposes of article 8, Uniform Commercial Code. (2) The bonds may be sold at publ…
Neb. Rev. Stat. § 44-4326 Signatures; validity.
0.3K chars
In case any officers whose signatures appear on any bonds or coupons cease to be such officers before the delivery of such obligations, such signatures shall nevertheless be valid and sufficient for all purposes to the same extent as if such officers had remained in office until …
Neb. Rev. Stat. § 44-4327 Bonds; risk management pool; powers.
3.7K chars
A risk management pool shall have power in connection with the issuance of its bonds: (1) To covenant as to the use of any or all of its property, real or personal; (2) To redeem the bonds, to covenant for their redemption, and to provide the terms and conditions thereof; (3) To …
Neb. Rev. Stat. § 44-4328 Refunding bonds; issuance; terms.
1.6K chars
A risk management pool may issue and sell refunding bonds for the purpose of paying or providing for the payment of any of its bonds at or prior to maturity or upon acceleration or redemption. Refunding bonds may be issued at any time prior to or at the maturity or redemption of …
Neb. Rev. Stat. § 44-4329 Refunding bonds; use.
0.5K chars
Refunding bonds may be exchanged for and in payment and discharge of any of the outstanding obligations being refunded. The refunding bonds may be exchanged for a like, greater, or smaller principal amount of the bonds being refunded as the issuing risk management pool's board of…
Neb. Rev. Stat. § 44-4330 Refunding bond proceeds; use.
1.6K chars
To the extent not required for the immediate payment and retirement of the obligations being refunded or for the payment of expenses incurred in connection with such refunding and subject to any agreement with the holders of any outstanding bonds, principal proceeds from the sale…
Neb. Rev. Stat. § 44-4331 Refunding bonds; procedures applicable.
0.4K chars
The issue of refunding bonds, the manner of sale, maturities, interest rates, form, and other details thereof, the security therefor, the rights of the holders thereof, and the rights, duties, and obligations of the risk management pool in respect of the same shall be governed by…
Neb. Rev. Stat. § 44-4332 Bonds; issuance; consent not required.
0.6K chars
Bonds may be issued under the Intergovernmental Risk Management Act without obtaining the consent of any department, division, commission, board, bureau, or instrumentality of this state and without any other proceedings or the happening of any other conditions or things than tho…
Neb. Rev. Stat. § 44-4333 Bonds; publication; when required.
0.5K chars
The board of directors of a risk management pool may provide for the publication of any resolution or other proceeding adopted by it pursuant to the Intergovernmental Risk Management Act or, in lieu thereof, a notice of intention to issue bonds in a newspaper of general circulati…
Neb. Rev. Stat. § 44-4334 Notice of intention to issue bonds; contents.
1.2K chars
In the case of a resolution or other proceeding providing for the issuance of bonds pursuant to the Intergovernmental Risk Management Act, the board of directors of the risk management pool may, either before or after the adoption of such resolution or other proceeding, in lieu o…
Neb. Rev. Stat. § 44-4335 Bonds; issuance; right to contest.
0.5K chars
For a period of thirty days after such publication, any person in interest shall have the right to contest the legality of such resolution or proceeding or any bonds which may be authorized thereby, any provisions made for the security and payment of such bonds, any contract of p…
Neb. Rev. Stat. § 44-4336 Bonds; authorized as investments.
0.8K chars
Bonds issued pursuant to the Intergovernmental Risk Management Act are hereby made securities in which all public officers and instrumentalities of the state and all political subdivisions, insurance companies, trust companies, banks, savings and loan associations, investment com…
Neb. Rev. Stat. § 44-4337 Bonds; risk management pool property; tax exempt.
0.7K chars
(1) All bonds of a risk management pool are declared to be issued for an essential public and governmental purpose and, together with interest thereon and income therefrom, shall be exempt from all taxes. (2) The property of a risk management pool, including any pro rata share of…
Neb. Rev. Stat. § 44-4338 State of Nebraska; agreement with bond holders.
0.9K chars
The State of Nebraska does hereby pledge to and agree with the holders of any bonds and with those parties who may enter into contracts with any risk management pool or member of a risk management pool under the Intergovernmental Risk Management Act that the state will not alter,…
Neb. Rev. Stat. § 44-4339 Act, how construed.
0.2K chars
The Intergovernmental Risk Management Act, being necessary for the welfare of the state and its inhabitants, shall be construed liberally to effect its purpose.
Neb. Rev. Stat. § 44-4401 Act, how cited.
0.1K chars
Sections 44-4401 to 44-4423 shall be known and may be cited as the Risk Retention Act.
Neb. Rev. Stat. § 44-4402 Purpose of act.
0.3K chars
The purpose of the Risk Retention Act is to regulate the formation and operation of risk retention groups in this state formed under the federal Liability Risk Retention Act of 1986 and to regulate the operation of purchasing groups in this state formed under the federal Liabilit…
Neb. Rev. Stat. § 44-4403 Terms, defined.
8.1K chars
For purposes of the Risk Retention Act, unless the context otherwise requires: (1) Commissioner shall mean the commissioner, director, or superintendent of insurance in any other state; (2) Completed operations liability shall mean liability arising out of the installation, maint…
Neb. Rev. Stat. § 44-4404 Risk retention group; charter and license requirements; governance standards; material service provider contract; term; audit committee; written charter; waiver of requirement; code of business conduct and ethics.
12.1K chars
(1) A risk retention group seeking to be chartered and licensed in this state shall be chartered and licensed as a liability insurance company under Chapter 44 and, except as provided elsewhere in the Risk Retention Act, shall comply with all of the laws, rules, and regulations a…
Neb. Rev. Stat. § 44-4405 Foreign risk retention groups; requirements.
4.5K chars
Risk retention groups chartered and licensed in states other than this state and seeking to do business as a risk retention group in this state shall observe and abide by the laws of this state as follows: (1) Before offering insurance in this state, a risk retention group shall …
Neb. Rev. Stat. § 44-4406 Premiums; taxable.
0.5K chars
All premiums paid for coverage within this state to risk retention groups shall be subject to taxation at the same rate and subject to the same interest, fines, and penalties for nonpayment as that applicable to foreign admitted insurers, and it shall be the responsibility of eac…
Neb. Rev. Stat. § 44-4407 Unfair trade and claims settlement practices laws; applicability.
0.5K chars
Any risk retention group shall comply with and be subject to the Unfair Insurance Trade Practices Act and any rule or regulation issued under the act. Any risk retention group and its agents and representatives shall comply with and be subject to the Unfair Insurance Claims Settl…
Neb. Rev. Stat. § 44-4408 Examination of financial condition; required.
0.5K chars
Any risk retention group shall submit to an examination by the director to determine its financial condition if the commissioner of the state in which the group is chartered and licensed has not initiated an examination or does not initiate an examination within sixty days after …
Neb. Rev. Stat. § 44-4409 Notice; required.
0.5K chars
Any application form for insurance from a risk retention group and any policy issued by a risk retention group shall contain, in ten-point type on the front page and the declaration page, the following notice: NOTICE THIS POLICY IS ISSUED BY YOUR RISK RETENTION GROUP. YOUR RISK R…
Neb. Rev. Stat. § 44-4410 Prohibited acts.
0.2K chars
A risk retention group shall not: (1) Solicit or sell insurance to any person who is not eligible for membership in such group; or (2) Solicit or sell insurance or operate in a hazardous financial condition or financially impaired condition.
Neb. Rev. Stat. § 44-4411 Member or owner; prohibitions.
0.2K chars
A risk retention group shall not do business in this state if an insurance company is directly or indirectly a member or owner of such group, other than in the case of a risk retention group all of whose members are insurance companies.