Chapter 44 — INSURANCE
2,728 sections in this chapter.
Repealed. Laws 1957, c. 180, § 11.
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[Repealed or reserved.]
Neb. Rev. Stat. § 44-2301 Hearings; authorized; powers of director.
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In addition to examinations expressly authorized under Chapter 44, the Director of Insurance may hold hearings to procure information helpful in the lawful administration of any of the provisions of such chapter. For the purpose of holding a hearing and the production of document…
Repealed. Laws 1971, LB 891, § 3.
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[Repealed or reserved.]
Repealed. Laws 1971, LB 891, § 3.
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[Repealed or reserved.]
Repealed. Laws 1971, LB 891, § 3.
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[Repealed or reserved.]
Repealed. Laws 1971, LB 891, § 3.
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[Repealed or reserved.]
Repealed. Laws 1971, LB 891, § 3.
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[Repealed or reserved.]
Repealed. Laws 1971, LB 891, § 3.
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[Repealed or reserved.]
Repealed. Laws 1971, LB 891, § 3.
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[Repealed or reserved.]
Repealed. Laws 1971, LB 891, § 3.
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[Repealed or reserved.]
Neb. Rev. Stat. § 44-231 Domestic company; articles of incorporation; amendment; procedure; exception.
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Except as otherwise provided in the Insurers Demutualization Act, any domestic insurance company, association, or society, hereinafter called company, may amend its articles of incorporation from time to time without limitation so long as the articles as amended contain only such…
Repealed. Laws 1971, LB 891, § 3.
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[Repealed or reserved.]
Repealed. Laws 1971, LB 891, § 3.
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[Repealed or reserved.]
Neb. Rev. Stat. § 44-2312 Hearings, appeals; law governing.
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Hearings and appeals in contested cases under the provisions of Chapter 44 as the same now provide or may hereafter from time to time be amended shall be in accordance with the Administrative Procedure Act.
Repealed. Laws 1993, LB 583, § 116.
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[Repealed or reserved.]
Neb. Rev. Stat. § 44-233 Domestic stock company; change to mutual company; requirements.
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If any domestic insurance company, operating upon a stock basis, hereafter desires to amend its articles of incorporation and change its methods of doing business to those of a mutual company, it shall, in addition to the requirements of section 44-231, comply with the provisions…
Neb. Rev. Stat. § 44-234 Domestic stock company; change to mutual company; plan; requirements.
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The board of directors shall submit to the Director of Insurance: (1) Two copies of the proposed amendments to its articles of incorporation as provided for in section 44-231, duly certified by the secretary of the company, for filing in the office of the director and as many add…
Neb. Rev. Stat. § 44-235 Domestic stock company; change to mutual company; plan; contents.
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The plan for the mutualization of the company shall among other things include: (1) A statement of the value of the interest of the shareholders in the company as ascertained by the company, which value shall not exceed the fair value thereof, and the amount proposed to be paid t…
Neb. Rev. Stat. § 44-236 Domestic stock company; change to mutual company; plan; director; duties; notice.
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Upon receipt of the documents described in section 44-234, the Director of Insurance shall promptly forward by mail to each shareholder of the company a copy of the proposed amendments to the articles of incorporation, a copy of the plan for mutualization or a summary thereof, an…
Neb. Rev. Stat. § 44-237 Domestic stock company; change to mutual company; hearing; objections; evidence.
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The Director of Insurance shall hold the hearing on objections as provided by sections 44-233 to 44-241 and shall receive written objections to the plan and amendments from any policyholder or shareholder and any evidence offered in support thereof. He or she may employ such actu…
Neb. Rev. Stat. § 44-238 Domestic stock company; change to mutual company; hearing; order; appeal.
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If, upon the hearing, the Director of Insurance disapproves the plan, he or she shall enter a written order fully stating the reason therefor. If he or she approves the proposed plan and amendments, he or she shall (1) make and enter an appropriate order approving them, (2) make …
Neb. Rev. Stat. § 44-239 Domestic stock company; change to mutual company; plan; modification by director.
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If the Director of Insurance proposes modifications in the proposed plan for mutualization or amendments to the articles of incorporation, he or she shall make such proposals in the form of a written order approving the plan only upon the condition that such modifications be prom…
Neb. Rev. Stat. § 44-240 Domestic stock company; change to mutual company; plan; approval by policyholders.
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Any plan for mutualization approved by the Director of Insurance shall be submitted to the policyholders of the company at a meeting held pursuant to the plan and shall be adopted only upon the affirmative vote of two-thirds of the policyholders present and voting in person or by…
Neb. Rev. Stat. § 44-2401 Purpose of act.
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The purpose of the Nebraska Property and Liability Insurance Guaranty Association Act is to provide a method for the payment of certain claims against insolvent insurance companies, as defined in the act, to avoid unnecessary delay in payment of such claims, to avoid financial lo…
Neb. Rev. Stat. § 44-2402 Kinds of insurance covered.
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The Nebraska Property and Liability Insurance Guaranty Association Act shall apply to all kinds of direct insurance except ocean marine, motor vehicle service contract reimbursement, and those lines of insurance specified in subdivisions (1) through (4), (13) through (17), (19), …
Neb. Rev. Stat. § 44-2403 Terms, defined.
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As used in the Nebraska Property and Liability Insurance Guaranty Association Act, unless the context otherwise requires: (1) Account means any one of the three accounts created by section 44-2404; (2) Director means the Director of Insurance or duly authorized representative; (3…
Neb. Rev. Stat. § 44-2404 Nebraska Property and Liability Insurance Guaranty Association; legal entity; members; functions.
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There is hereby created a nonprofit unincorporated legal entity to be known as the Nebraska Property and Liability Insurance Guaranty Association. All insurers defined as member insurers in subdivision (6) of section 44-2403 shall be and remain members of the association as a con…
Neb. Rev. Stat. § 44-2405 Association; board of directors; members; number; selection; qualifications; expenses.
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(1) The board of directors of the association shall consist of seven member insurers serving terms as established in the plan of operation. The members of the board shall be selected by member insurers subject to the approval of the director. At least four members of the board sh…
Neb. Rev. Stat. § 44-2406 Claims; filing; determination.
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(1) The association shall be obligated only to the extent of the covered claims existing prior to the date a member insurer becomes an insolvent insurer or arising within thirty days after it has been determined that the insurer is an insolvent insurer, before the policy expirati…
Neb. Rev. Stat. § 44-2407 Association; duties; powers; enumerated; settlement, release, compromise, or waiver; effect on association.
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(1) The association shall: (a) Allocate claims paid and expenses incurred among the three accounts separately and assess member insurers separately for each account in the amounts necessary to pay (i) the obligations of the association under section 44-2406, (ii) the expenses of …
Neb. Rev. Stat. § 44-2408 Association; plan of operation; amendments; submit to director.
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(1)(a) The association shall submit to the director a plan of operation and any amendments thereto necessary or suitable to assure the fair, reasonable, and equitable administration of the affairs of the association. The plan of operation and any amendments thereto shall become e…
Neb. Rev. Stat. § 44-2409 Director; duties.
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(1) The director shall: (a) Notify the association of the existence of any insolvent insurer not later than three days after he or she receives notice of the determination of the insolvency and order of liquidation pursuant to the Nebraska Insurers Supervision, Rehabilitation, an…
Neb. Rev. Stat. § 44-241 Domestic stock company; change to mutual company; expenses of department; payment by company.
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All reasonable expenses incurred by the Department of Insurance shall be certified to by the director and paid by the company.
Neb. Rev. Stat. § 44-2410 Assignment of rights; notice of claims; settlement; effect; statement of claims; file with director.
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(1) Any person recovering under the Nebraska Property and Liability Insurance Guaranty Association Act shall be deemed to have assigned his or her rights under the policy to the association to the extent of such recovery from the association. Every insured or claimant seeking rec…
Neb. Rev. Stat. § 44-2411 Exhaustion of remedies.
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(1) Any person having a claim against any insurer under any provisions of any insurance policy, which claim is also a covered claim against an insolvent insurer under the Nebraska Property and Liability Insurance Guaranty Association Act, shall be required to exhaust all rights u…
Neb. Rev. Stat. § 44-2412 Board of directors; director; duties.
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To aid in the detection and prevention of insurer insolvencies: (1) It shall be the duty of the board of directors, upon majority vote, to notify the director of any information indicating that any member insurer may be insolvent or in a financial condition hazardous to the polic…
Neb. Rev. Stat. § 44-2413 Association; director; examine; regulate; financial report; furnish.
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The association shall be subject to examination and regulation by the director. Any such examination conducted pursuant to the provisions of this section shall be paid for by the association. The board of directors shall submit to the director, not later than March 30 of each yea…
Neb. Rev. Stat. § 44-2414 Association; fees and taxes; exempt.
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The association shall be exempt from the payment of all fees and all taxes levied by this state or any of its subdivisions except taxes levied on real or personal property.
Neb. Rev. Stat. § 44-2415 Exemption from liability.
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There shall be no liability on the part of, and no cause of action of any nature shall rise against, any member insurer, the association or its agents or employees, the board of directors of the association, any servicing facility designated by the association in accordance with …
Neb. Rev. Stat. § 44-2416 Advertisements by member insurers of coverage by association; prohibited.
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Advertisements by member insurers which include a reference to the coverage of the insurance guaranty association are specifically prohibited.
Neb. Rev. Stat. § 44-2417 Assessments made by insurance guaranty associations of other states; not considered taxes, fees, licenses, obligations, prohibitions, or restrictions.
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Assessments made by the insurance guaranty associations, or similar entities, pursuant to the laws of any other state shall not be considered taxes, licenses, other fees, other material obligations, prohibitions, or restrictions as those terms are defined in section 44-150.
Neb. Rev. Stat. § 44-2418 Act, how cited.
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Sections 44-2401 to 44-2419 shall be known and may be cited as the Nebraska Property and Liability Insurance Guaranty Association Act.
Neb. Rev. Stat. § 44-2419 Order of liquidation; stay.
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All proceedings arising out of a claim under a policy of insurance written by an insolvent insurer shall be stayed for one hundred twenty days from the date of entry of the order of liquidation to permit proper defense by the association of all such pending causes of action. Noth…
Neb. Rev. Stat. § 44-242 All-lines insurer; terms, defined.
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For purposes of sections 44-242 to 44-247, unless the context otherwise requires: (1) An all-lines insurer shall mean an insurer authorized to write more than one line of insurance included in a life insurance class of insurance and one or more lines of insurance included in a pr…
Neb. Rev. Stat. § 44-243 All-lines insurer; minimum surplus; maintain; failure; effect.
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Except as provided in section 44-202.01, an all-lines insurer shall maintain a minimum surplus to policyholders, as defined in section 44-222, of at least two million dollars in the form of capital, if a stock insurance company, or in the form of surplus, if a mutual insurance co…
Neb. Rev. Stat. § 44-244 All-lines insurer; class of insurance; annual statement; premiums; how accounted for.
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Each line of insurance written by an all-lines insurer which is included in the life insurance class of insurance or the property and liability class of insurance shall be accounted for separately in life and accident and health annual statement blanks and fire and casualty annua…
Neb. Rev. Stat. § 44-245 All-lines insurer; impairment or insolvency; liabilities; how charged.
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In the event of impairment or insolvency of an all-lines insurer, the excess of the liabilities of one class of insurance over the accumulated assets attributable to that class of insurance may be charged as necessary against the assets of the other class only to the extent that …
Neb. Rev. Stat. § 44-246 Insurance statutes, applicability; sections, how construed.
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All requirements, limitations, and restrictions of Chapter 44 which apply to specific lines of insurance or to companies identified by the specific lines of insurance transacted by them shall apply to such companies and to all persons or agents thereof with respect to such specif…
Neb. Rev. Stat. § 44-247 Department; rules and regulations.
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The department shall adopt and promulgate rules and regulations necessary to carry out sections 44-242 to 44-247.
Neb. Rev. Stat. § 44-248 Plan of exchange; act, how cited.
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Sections 44-248 to 44-255 shall be known and may be cited as the Insurance Company Plan of Exchange Act.