Chapter 44 — INSURANCE
2,728 sections in this chapter.
Neb. Rev. Stat. § 44-2012 Action; attorney fee; allowance.
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In any action against an unauthorized foreign or alien insurer upon a contract of insurance issued or delivered in this state to a resident thereof or to a corporation authorized to do business therein, if the insurer has failed for thirty days after demand prior to the commencem…
Neb. Rev. Stat. § 44-2013 Act; applicability.
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The Unauthorized Insurers Process Act shall not apply to any action, suit, or proceeding against any nonadmitted foreign or alien insurer arising out of any contract of insurance (1) effected in accordance with the Surplus Lines Insurance Act, (2) covering reinsurance, ocean mari…
Neb. Rev. Stat. § 44-202 Insurance companies; organization; businesses authorized.
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(1) Companies may be formed upon the stock or mutual plan to transact any line or lines of insurance authorized by section 44-201, upon the assessment plan to transact any line or lines of insurance specified in subdivisions (4), (5), (7), and (18) of such section, or upon the fr…
Neb. Rev. Stat. § 44-202.01 Insurance companies; licensed on August 25, 1989; continuance of authority.
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An insurer holding a valid certificate of authority to transact insurance in this state immediately prior to August 25, 1989, may continue to be authorized to transact the same lines of insurance permitted by such certificate of authority by maintaining thereafter the same amount…
Neb. Rev. Stat. § 44-203 Insurance companies; lines of insurance; authorized.
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Except as provided in section 44-1984, a company may be formed or an existing company may be authorized to transact any one or more of the lines of insurance specified in section 44-201.
Repealed. Laws 1989, LB 92, § 278.
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[Repealed or reserved.]
Repealed. Laws 1951, c. 136, § 4.
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[Repealed or reserved.]
Neb. Rev. Stat. § 44-205 Insurance companies; formation; articles of incorporation; filing.
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Five or more natural persons may act as incorporators of an insurance corporation. The articles of incorporation shall be signed by each incorporator and delivered to the Department of Insurance for approval or disapproval, and if approved and found by it to be in accordance with…
Neb. Rev. Stat. § 44-205.01 Articles of incorporation; contents.
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(1) The articles of incorporation filed pursuant to section 44-205 shall state (a) the corporate name, which shall not so nearly resemble the name of an existing corporation as, in the opinion of the Director of Insurance, will mislead the public or cause confusion, (b) the place…
Neb. Rev. Stat. § 44-206 Insurance companies; formation; notice; publication.
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Within the earlier of thirty days after receiving the certificate of authority to transact business or four months after filing its articles of incorporation, such corporation shall publish a notice in some legal newspaper, which notice shall contain the same information, as far …
Neb. Rev. Stat. § 44-207 Insurance companies; formation; executive officers; qualifications.
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Insurance companies hereafter organizing under the laws of this state are required to have as their executive officers persons who are known to be capable of running the affairs of an insurance company. The requirements shall consist of good character and known business ability, …
Neb. Rev. Stat. § 44-208 Insurance companies; stock distribution and sale; compensation; limitation; statement.
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No domestic insurance company shall issue, cause, or allow to be issued any stock or stock subscriptions at any time upon which all expenses of distribution and sale, including promotion, commissions, and underwriting fees, exceed ten percent of the amount paid in money upon such…
Neb. Rev. Stat. § 44-208.01 Insurance companies; organization; filings required.
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(1) In addition to the statement required by section 44-208 of persons incorporating stock companies, the incorporators of all domestic stock, mutual, and assessment insurers shall file with the Department of Insurance (a) copies of the proposed bylaws, (b) forms of subscriptions…
Neb. Rev. Stat. § 44-208.02 Insurance companies; organization; subscriptions to stock; permit.
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If the Director of Insurance approves the forms of subscriptions for capital stock or the forms of application for membership or for insurance, the corporate surety on the bond required by section 44-208.01, and, in the case of stock insurers, the application to solicit subscript…
Neb. Rev. Stat. § 44-208.03 Insurance companies; organization; solicitors; written contract required; filing.
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No person shall solicit subscriptions for the capital stock of, or applications for membership or for insurance in any corporation in the process of organization, unless he has entered into a written contract with the corporation and a certificate of his authority, signed by at l…
Neb. Rev. Stat. § 44-208.04 Insurance companies; organization; promotion expense; subscription, required stipulations.
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Every subscription to the capital stock of a corporation in the process of organization shall contain a stipulation that no sum shall be used for promotion or organization expense in excess of a stated percent of the amount paid upon the subscription. Such sum shall in no event e…
Neb. Rev. Stat. § 44-208.05 Insurance companies; organization; failure to complete; proceedings authorized.
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(1) If a corporation does not qualify for a certificate of authority within one year from the date it receives its permit to complete its organization or if an agent of the corporation employed to solicit subscriptions or applications has violated the insurance laws of the state,…
Neb. Rev. Stat. § 44-208.06 Insurance companies; shares of stock; sale in excess of subscription price, limitation.
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Until a certificate of authority is issued to a corporation to transact business on the stock plan and for three years thereafter, no shares of stock shall be issued by the corporation or sold or transferred by the promoters, incorporators, or other persons engaged in soliciting …
Neb. Rev. Stat. § 44-208.07 Insurance companies; organization; rules and regulations.
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The Director of Insurance shall have authority to adopt and promulgate rules and regulations to regulate all other matters in connection with the organization of domestic insurers for the purpose of protecting the public or preventing fraud.
Neb. Rev. Stat. § 44-208.08 Insurance companies; organization; violation of law; personal liability of solicitors.
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Any person, firm, association, partnership, limited liability company, or corporation which solicits any subscriptions for stock or any application for membership or for a policy or sells any surplus note for any insurer in process of organization in violation of law shall be per…
Repealed. Laws 1989, LB 92, § 278.
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[Repealed or reserved.]
Neb. Rev. Stat. § 44-210 Annual meeting; special meeting; voting rights; proxies; preferred stock; limitation on right to vote; quorum requirements; when.
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Every domestic stock and mutual company and assessment association shall hold an annual meeting of its shareholders, if a stock company, or of its members, if a mutual company or an assessment association, on or before the 30th day of June in each and every calendar year, for the…
Repealed. Laws 1991, LB 236, § 89.
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[Repealed or reserved.]
Repealed. Laws 1991, LB 236, § 89.
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[Repealed or reserved.]
Repealed. Laws 1991, LB 236, § 89.
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[Repealed or reserved.]
Repealed. Laws 1991, LB 236, § 89.
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[Repealed or reserved.]
Repealed. Laws 1991, LB 236, § 89.
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[Repealed or reserved.]
Repealed. Laws 1991, LB 236, § 89.
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[Repealed or reserved.]
Repealed. Laws 1991, LB 236, § 89.
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[Repealed or reserved.]
Repealed. Laws 1991, LB 236, § 89.
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[Repealed or reserved.]
Repealed. Laws 1991, LB 236, § 89.
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[Repealed or reserved.]
Neb. Rev. Stat. § 44-211 Incorporators; manage business until first meeting of shareholders; board of directors; election; number; residency requirements; other qualifications; powers.
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(1) The business and affairs of an insurance corporation shall be managed by the incorporators until the first meeting of shareholders or members and then and thereafter by a board of directors elected by the shareholders or members and as otherwise provided by law. (2)(a)(i) The…
Repealed. Laws 1963, c. 340, § 1.
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[Repealed or reserved.]
Repealed. Laws 1991, LB 236, § 89.
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[Repealed or reserved.]
Repealed. Laws 1991, LB 236, § 89.
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[Repealed or reserved.]
Repealed. Laws 1991, LB 236, § 89.
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[Repealed or reserved.]
Repealed. Laws 1991, LB 236, § 89.
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[Repealed or reserved.]
Repealed. Laws 1991, LB 236, § 89.
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[Repealed or reserved.]
Repealed. Laws 1991, LB 236, § 89.
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[Repealed or reserved.]
Repealed. Laws 1991, LB 236, § 89.
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[Repealed or reserved.]
Repealed. Laws 1991, LB 236, § 89.
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[Repealed or reserved.]
Repealed. Laws 1991, LB 236, § 89.
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[Repealed or reserved.]
Repealed. Laws 1991, LB 236, § 89.
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[Repealed or reserved.]
Neb. Rev. Stat. § 44-212 Insurance companies; officers; elections; terms; salaries.
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The directors of every stock company and the board of directors or members of every mutual company or assessment association may elect such officers as are necessary to conduct the business of the company, including a president, secretary, and treasurer, and employ such other off…
Neb. Rev. Stat. § 44-2120 Act, how cited.
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Sections 44-2120 to 44-2155 shall be known and may be cited as the Insurance Holding Company System Act.
Neb. Rev. Stat. § 44-2121 Terms, defined.
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For purposes of the Insurance Holding Company System Act: (1) An affiliate of, or person affiliated with, a specific person means a person that directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with the person speci…
Neb. Rev. Stat. § 44-2122 Subsidiaries of insurers; authorized.
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In addition to the authority granted in Chapter 44, any domestic insurer, either by itself or in cooperation with one or more persons, may, subject to the limitations set forth in the Insurance Holding Company System Act, organize or acquire one or more subsidiaries engaged in th…
Neb. Rev. Stat. § 44-2123 Additional investments authorized.
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In addition to investments in common stock, preferred stock, debt obligations, and other securities permitted under Chapter 44, a domestic insurer may also: (1) Invest, in common stock, preferred stock, debt obligations, and other securities of one or more subsidiaries, amounts w…
Neb. Rev. Stat. § 44-2124 Additional investments; qualification; when determined.
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Whether any investment pursuant to section 44-2123 meets the applicable requirements thereof shall be determined before such investment is made by calculating the applicable investment limitations as though the investment had already been made, taking into account the then outsta…
Neb. Rev. Stat. § 44-2125 Investments in subsidiary; disposal; when.
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If an insurer ceases to control a subsidiary, it shall dispose of any investment made in the subsidiary pursuant to sections 44-2122 to 44-2124 within three years from the time of the cessation of control or within such further time as the director may prescribe unless, at any ti…