Chapter 44 — INSURANCE
2,728 sections in this chapter.
Neb. Rev. Stat. § 44-5118 Legal tender.
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All cash payments of principal, interest, premiums, dividends, and other cash consideration received on any investment authorized under the Insurers Investment Act shall be payable in lawful money of the United States except as provided in section 44-5137.
Neb. Rev. Stat. § 44-5119 Director's authority.
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(1) The director may impose reasonable and temporary restrictions upon the investments of an insurer, including prohibition or divestment of a particular investment, if the director finds that the interests of insureds, creditors, or the general public are or may be endangered. (…
Neb. Rev. Stat. § 44-512 Life or annuity policy; form; withdrawal of approval; procedure; appeal.
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After the expiration of such thirty days from the filing of any such form or at any time after having given written approval thereof, the director may, after a hearing of which at least ten days' written notice has been given to the insurer issuing such form, withdraw approval on…
Neb. Rev. Stat. § 44-5120 Lending of securities.
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(1) An insurer may lend its securities if: (a) The securities are created or existing under the laws of the United States and, simultaneously with the delivery of the loaned securities, the insurer receives collateral from the borrower consisting of cash or securities backed by t…
Neb. Rev. Stat. § 44-5120.01 Repurchase and reverse repurchase transactions.
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(1) For purposes of this section: (a) Acceptable collateral means: (i) As to reverse repurchase transactions, cash, cash equivalents, highly rated business entity obligations created or existing under the laws of the United States or Canada, public equity securities that are trad…
Neb. Rev. Stat. § 44-5121 Applicability of act.
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An insurer's investments shall be subject to the Insurers Investment Act notwithstanding anything in 15 U.S.C. 77r-1 to the contrary.
Neb. Rev. Stat. § 44-5122 Investments held on September 13, 1997.
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Any investment held by an insurer on September 13, 1997, which was an authorized investment immediately prior to such date shall be deemed an authorized investment under the Insurers Investment Act.
Neb. Rev. Stat. § 44-5123 United States Government and government-guaranteed obligations.
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An insurer may invest in direct obligations of the United States or obligations for which the full faith and credit of the United States is pledged for the payment of all principal and interest.
Neb. Rev. Stat. § 44-5124 United States agency and instrumentality obligations.
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An insurer may invest in direct obligations of any agency or instrumentality of the United States or obligations for which the full faith and credit of any agency or instrumentality of the United States is pledged for the payment of all principal and interest.
Neb. Rev. Stat. § 44-5125 Canadian Government and government-guaranteed obligations.
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An insurer may invest in direct obligations of the government of Canada or obligations for which the full faith and credit of the government of Canada is pledged for the payment of all principal and interest.
Neb. Rev. Stat. § 44-5126 Canadian agency and instrumentality obligations.
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An insurer may invest in direct obligations of any agency or instrumentality of the government of Canada or obligations for which the full faith and credit of any agency or instrumentality of the government of Canada is pledged for the payment of all principal and interest.
Neb. Rev. Stat. § 44-5127 Canadian provincial and municipal obligations.
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An insurer may invest in direct obligations of any province or municipality of Canada or obligations for which the full faith and credit of any province or municipality of Canada is pledged for the payment of all principal and interest. Any investment authorized under this sectio…
Neb. Rev. Stat. § 44-5128 Other governmental and related obligations.
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An insurer may invest in obligations issued, assumed, or guaranteed by the United States, an agency or instrumentality of the United States, a state, a municipality, a political subdivision, the government of Canada, an agency or instrumentality of the government of Canada, any p…
Neb. Rev. Stat. § 44-5129 Business entity obligations.
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An insurer may invest in obligations of a business entity created or existing under the laws of the United States or Canada or any state or province thereof. Any investment authorized under this section shall have a minimum quality rating as described in subdivision (2) of sectio…
Neb. Rev. Stat. § 44-513 Osteopathic medicine and surgery, chiropractic, optometry, psychology, dentistry, podiatry, or mental health service; policy; provisions.
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Whenever any insurer provides by contract, policy, certificate, or any other means whatsoever for a service, or for the partial or total reimbursement, payment, or cost of a service, to or on behalf of any of its policyholders, group policyholders, subscribers, or group subscribe…
Repealed. Laws 1994, LB 1210, § 192.
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[Repealed or reserved.]
Neb. Rev. Stat. § 44-513.02 Reimbursement for prescription drugs and other pharmacy services; prohibited provisions.
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(1) A medical benefit contract which provides reimbursement for prescription drugs, including contracts by health maintenance organizations and preferred provider organizations, shall not require a person to obtain prescription drugs from a mail-order pharmacy as a condition to o…
Repealed. Laws 1997, LB 273, § 27.
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[Repealed or reserved.]
Neb. Rev. Stat. § 44-5131 International development bank obligations.
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An insurer may invest in obligations of an international development bank of which the United States is a member. Any investment authorized under this section shall have a minimum quality rating as described in subdivision (1) of section 44-5112. An insurer's investments authoriz…
Neb. Rev. Stat. § 44-5132 Bankruptcy-remote business entity securities.
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(1) An insurer may invest in a security or other instrument, excluding a mutual fund, evidencing an interest in or the right to receive payments from, or payable from distributions on, an asset, a pool of assets, or specifically divisible cash flows which are legally transferred …
Repealed. Laws 1997, LB 273, § 27.
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[Repealed or reserved.]
Neb. Rev. Stat. § 44-5134 Collateral loans.
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(1) An insurer may, in addition to any investment authorized under section 44-5132, invest in obligations secured by pledged securities if: (a) The market value of such pledged securities or the fair value if the securities have no recognized market value will at all times of hol…
Neb. Rev. Stat. § 44-5135 Leased property.
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An insurer may invest in obligations secured by an assignment of a lease to or for the benefit of the insurer and the rents payable under the lease if: (1) The lessee or ultimate guarantor of any lease securing the obligation is an entity the obligations of which are authorized f…
Repealed. Laws 1997, LB 273, § 27.
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[Repealed or reserved.]
Neb. Rev. Stat. § 44-5137 Foreign securities.
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(1) An insurer may invest in foreign securities or other investments (a) issued in, (b) located in, (c) denominated in the currency of, (d) whose ultimate payment amounts of principal or interest are subject to fluctuations in the currency of, or (e) whose obligors are domiciled …
Neb. Rev. Stat. § 44-5138 Short-term investments.
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(1) An insurer may invest in: (a) Bank certificates of deposit, banker's acceptances, or corporate promissory notes with a remaining term of no more than one year; and (b) Shares, interests, or participation certificates in any management type of investment trust, corporate or ot…
Neb. Rev. Stat. § 44-5139 Investment trusts and investment companies.
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(1) An insurer may invest in shares of a fund registered under the Investment Company Act of 1940, as amended, as a diversified open-end investment company and in shares, interests, or participation certificates in any management type of investment trust, corporate or otherwise, …
Neb. Rev. Stat. § 44-514 Automobile liability policy; terms, defined.
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For purposes of sections 44-514 to 44-521, unless the context otherwise requires: (1) Policy shall mean an automobile liability policy providing all or part of the coverage defined in subdivision (2) of this section, delivered or issued for delivery in this state, insuring a natu…
Neb. Rev. Stat. § 44-5140 Preferred stock.
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(1) An insurer may invest in the preferred stock of any corporation which: (a) Has earned and paid regular dividends at the regular prescribed rate each year upon its preferred stock, if any is or has been outstanding, for not less than five years immediately preceding the purcha…
Neb. Rev. Stat. § 44-5141 Common stock; equity interests.
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(1) An insurer may invest in the common stock or rights to purchase or sell common stock of any corporation. (2)(a) An insurer may invest in equity interests or rights to purchase or sell equity interests in business entities other than general partnerships unless the general par…
Neb. Rev. Stat. § 44-5142 Insurance company stock.
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(1) Stock insurers which maintain capital stock required by section 44-214 and nonstock insurers which maintain surplus required by section 44-219 may invest in the common and preferred stock of other insurers. (2) An insurer's investments authorized under this section shall not …
Neb. Rev. Stat. § 44-5143 Real estate mortgages.
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(1) An insurer may invest in bonds or notes secured by a first mortgage on real estate in the United States or Canada if the amount loaned by the insurer, together with any amount secured by an equal security interest, does not exceed eighty percent of the appraised value of the …
Neb. Rev. Stat. § 44-5144 Real estate.
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(1) An insurer may acquire and hold unencumbered real estate or certificates evidencing participation with other investors, either directly or through partnership or limited liability company interests, or other equity interests, including common and preferred equity investments,…
Neb. Rev. Stat. § 44-5145 Equipment.
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An insurer may invest in equipment or interests in equipment wholly situated or maintained in the United States and Canada which are mortgaged or otherwise encumbered by the insurer as security for a nonrecourse debt and which are leased under a lease contract if: (1) The annual …
Repealed. Laws 1997, LB 273, § 27.
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[Repealed or reserved.]
Repealed. Laws 1997, LB 273, § 27.
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[Repealed or reserved.]
Repealed. Laws 1997, LB 273, § 27.
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[Repealed or reserved.]
Neb. Rev. Stat. § 44-5149 Hedging transactions; derivative instruments.
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(1) An insurer may use derivative instruments in hedging transactions if: (a) The aggregate statement value of options, caps, floors, and warrants not attached to any financial instrument and used in hedging transactions does not exceed the lesser of seven and one-half percent of…
Neb. Rev. Stat. § 44-515 Automobile liability policy; notice of cancellation; requirements; exceptions.
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(1) A notice of cancellation of a policy shall be effective only if it is based on one or more of the following reasons: (a) Nonpayment of premium; (b) Fraud or material misrepresentation affecting the policy or in the presentation of a claim thereunder, or violation of any of th…
Repealed. Laws 1998, LB 1035, § 28.
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[Repealed or reserved.]
Neb. Rev. Stat. § 44-5151 Other investment grade obligations.
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(1) An insurer may hold investments not otherwise authorized under the Insurers Investment Act if such investments: (a) Have minimum quality ratings as described in subdivision (2) of section 44-5112; and (b) In the aggregate do not exceed one hundred percent of the insurer's pol…
Neb. Rev. Stat. § 44-5152 Securities Valuation Office; designated obligations; limitation.
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(1) In addition to investments otherwise authorized under the Insurers Investment Act and subject to the limitations in subsections (2) and (3) of this section, an insurer may invest in obligations having 3, 4, 5, and 6 designations from the Securities Valuation Office. (2) Subje…
Neb. Rev. Stat. § 44-5153 Additional authorized investments.
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(1)(a)(i) A life insurer may make investments not otherwise authorized under the Insurers Investment Act in an amount, in the aggregate, not exceeding the lesser of five percent of the first five hundred million dollars of its admitted assets plus ten percent of its admitted asse…
Neb. Rev. Stat. § 44-5154 Rules and regulations.
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The director may adopt and promulgate rules and regulations to carry out the Insurers Investment Act, including, but not limited to, establishing standards for qualification as custodians for insurer investments and establishing requirements for custody agreements.
Neb. Rev. Stat. § 44-516 Automobile liability policy; notice of cancellation; reason for cancellation.
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(1) No notice of cancellation of a policy to which section 44-515 applies shall be effective unless mailed by registered mail, certified mail, or first-class mail using intelligent mail barcode or another similar tracking method used or approved by the United States Postal Servic…
Neb. Rev. Stat. § 44-517 Automobile liability policy; notice of intention not to renew; requirements.
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(1) No insurer shall refuse to renew a policy unless such insurer or its agent shall mail or deliver to the named insured, at the address shown in the policy, at least twenty days' advance notice of its intention not to renew. This section shall not apply: (a) If the insurer has …
Neb. Rev. Stat. § 44-518 Automobile liability policy; notice of intention not to renew; reason.
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If an insurer shall refuse to renew a policy, as provided for in section 44-517, the insurer shall, upon written request of the named insured, mailed or delivered not less than fifteen days prior to the effective date of such notice of intention not to renew, specify in writing t…
Neb. Rev. Stat. § 44-519 Automobile liability policy; notice; proof of receipt.
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Evidence of mailing notice of cancellation, of intention not to renew, or of reasons for cancellation to the named insured's last mailing address known to the insurer shall be sufficient proof of receipt of notice.
Neb. Rev. Stat. § 44-520 Automobile liability policy; cancellation; notice of other insurance; contents.
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When automobile bodily injury and property damage liability coverage is canceled, other than for nonpayment of premium, or in the event of failure to renew automobile bodily injury and property damage liability coverage to which section 44-517 applies, the insurer shall notify th…
Repealed. Laws 1994, LB 1222, § 66.
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[Repealed or reserved.]