Chapter 44 — INSURANCE
2,728 sections in this chapter.
Neb. Rev. Stat. § 44-249 Plan of exchange; adoption.
0.9K chars
Any domestic stock insurance company may adopt a plan providing for the exchange of its outstanding shares for the consideration designated in this section to be paid or provided by a corporation which is to acquire such shares in the manner provided in sections 44-248 to 44-255.…
Neb. Rev. Stat. § 44-250 Plan of exchange; approval by directors.
0.7K chars
The board of directors of each corporation which is a party to a plan of exchange shall by resolution upon a vote of two-thirds of all of its directors approve a plan of exchange setting forth: (1) The names of the companies proposing to adopt a plan of exchange, and the names of…
Neb. Rev. Stat. § 44-2501 Domestic insurer; prohibited acts.
1.1K chars
No domestic insurer shall enter into any contract of insurance upon the life or person of a resident of a reciprocal state, or covering property or risks located in a reciprocal state, unless the insurer is authorized pursuant to the laws of such reciprocal state to do business t…
Neb. Rev. Stat. § 44-2502 Reciprocal state, defined.
0.3K chars
For purposes of sections 44-2501 to 44-2504, reciprocal state shall mean any state the laws of which impose substantially similar restrictions upon an insurer organized under the laws of that state as are imposed upon domestic insurers by section 44-2501.
Neb. Rev. Stat. § 44-2503 Department; reciprocal states; listing.
0.1K chars
The department shall make available to any domestic insurer upon request a listing specifying the several reciprocal states.
Neb. Rev. Stat. § 44-2504 Unauthorized act; violation; penalty.
0.2K chars
Any domestic insurer who transacts any unauthorized act of insurance business as regulated by sections 44-2501 to 44-2504 shall be guilty of a misdemeanor and shall, upon conviction thereof, be fined not more than ten thousand dollars.
Neb. Rev. Stat. § 44-251 Plan of exchange; approval; submit to shareholders.
1.7K chars
(1) Such plan of exchange shall then be submitted to the Director of Insurance for his or her approval after a hearing at which the shareholders of the company to be acquired shall have an opportunity to be heard upon at least ten days' notice to be given by the company to its sh…
Neb. Rev. Stat. § 44-252 Plan of exchange; effective; abandon; when.
0.6K chars
Upon such approval of the plan by the shareholders, it shall be executed by the company acquired by its president or vice president and by its secretary or an assistant secretary and shall become effective without other action upon the filing thereof with the Director of Insuranc…
Neb. Rev. Stat. § 44-253 Plan of exchange; disapproval by shareholder; demand for payment; disagreement; action of shareholder; judgment; payment; effect.
3.6K chars
Any shareholder of the company acquired may elect to exercise a right of dissent by filing with the company, prior to or at the meeting of shareholders at which such proposed plan is submitted to a vote, written objections to such proposed plan. If such proposed plan be approved …
Neb. Rev. Stat. § 44-254 Plan of exchange; transfer; effect.
1.6K chars
(1) Upon a plan of exchange becoming effective, the exchange provided for therein shall be considered to have been consummated and each shareholder of the stock insurance company acquired shall cease to be a shareholder of such company. The ownership of all shares of the issued a…
Neb. Rev. Stat. § 44-255 Plan of exchange; corporate status.
0.4K chars
The stock company acquired under a plan of exchange and the acquiring corporation shall be in all respects separate and distinct corporations, with neither corporation having any liability to the creditors or policyholders, if any, or shareholders of the other for any acts or omi…
Repealed. Laws 1980, LB 481, § 33.
0.0K chars
[Repealed or reserved.]
Repealed. Laws 1980, LB 481, § 33.
0.0K chars
[Repealed or reserved.]
Repealed. Laws 1980, LB 481, § 33.
0.0K chars
[Repealed or reserved.]
Repealed. Laws 1980, LB 481, § 33.
0.0K chars
[Repealed or reserved.]
Repealed. Laws 1980, LB 481, § 33.
0.0K chars
[Repealed or reserved.]
Neb. Rev. Stat. § 44-2606 Definitions; where found.
0.2K chars
For the purpose of sections 44-2606 to 44-2635, unless the context otherwise requires, the definitions found in sections 44-2607 to 44-2613 shall be used.
Neb. Rev. Stat. § 44-2607 Insurance consultant, defined.
0.5K chars
Insurance consultant shall mean any person who, for a fee, engages in the business of offering to the public any advice, counsel, opinion, or service with respect to insurable risks, or concerning the benefits, coverages, or provisions under any policy of insurance that could be …
Neb. Rev. Stat. § 44-2608 Risk manager, defined.
0.2K chars
Risk manager shall mean any person who is a full-time employee who deals with matters of insurance within the scope of his or her employment, including the supervision of employee benefits.
Neb. Rev. Stat. § 44-2609 Agent, defined.
0.1K chars
Agent shall mean and include insurance agent, surplus lines licensee, and broker.
Neb. Rev. Stat. § 44-2610 Person, defined.
0.1K chars
Person shall mean any individual, corporation, partnership, limited liability company, or other entity.
Neb. Rev. Stat. § 44-2611 Pure risk, defined.
0.1K chars
Pure risk shall mean any risk that involves the chance of loss or no loss only with no possibility of gain.
Neb. Rev. Stat. § 44-2612 Director, defined.
0.0K chars
Director shall mean the Director of Insurance.
Neb. Rev. Stat. § 44-2613 Department, defined.
0.1K chars
Department shall mean the Department of Insurance.
Neb. Rev. Stat. § 44-2614 Insurance consultant; acts requiring licensure.
0.7K chars
No person shall, in or on advertisements, cards, signs, circulars, letterheads, or elsewhere or in any other manner by which public announcements are made, use the title insurance consultant or any similar title or any title, word, combination of words, or abbreviation indicating…
Neb. Rev. Stat. § 44-2615 Insurance consultant; license; violation; penalty.
0.2K chars
No person shall act as an insurance consultant until he or she has been licensed as provided by sections 44-2606 to 44-2635. Any person violating this section shall be guilty of a Class IV misdemeanor.
Neb. Rev. Stat. § 44-2616 Person; not acting as insurance consultant; when.
0.7K chars
A person shall not be deemed to be acting as an insurance consultant under any of the following circumstances: (1) If a licensed agent gives advice incidental to the normal course of the agent's insurance business and does not charge a fee other than commissions received from ins…
Neb. Rev. Stat. § 44-2617 Corporation, partnership, or limited liability company; licensed as insurance consultant; requirements.
1.5K chars
Any corporation, partnership, or limited liability company engaged in the business of insurance consulting may become licensed as an insurance consultant. No license shall be granted to a corporation, partnership, or limited liability company unless the corporation, partnership, …
Neb. Rev. Stat. § 44-2618 Nonresident consultant; rights and privileges.
0.7K chars
A nonresident applicant may qualify for a license under sections 44-2606 to 44-2635 as a nonresident consultant. A license issued to a nonresident shall grant the same rights and privileges offered a resident licensee, except that whenever, by the laws, rules, or regulations of a…
Neb. Rev. Stat. § 44-2619 Nonresident consultant; applicant; examination.
0.2K chars
Any nonresident applicant whose resident state does not license insurance consultants may qualify for a license as a nonresident consultant in this state only upon examination, except as provided in section 44-2625.
Neb. Rev. Stat. § 44-2620 Nonresident consultant; personal jurisdiction.
0.3K chars
Obtaining a nonresident license shall constitute sufficient contact with this state for the exercise of personal jurisdiction over such a person in any action, suit, or proceeding instituted by or on behalf of any interested person arising out of the applicant's consulting busine…
Neb. Rev. Stat. § 44-2621 Insurance consultant's license; type; fee; qualifications.
1.4K chars
Every individual applicant for a license under sections 44-2606 to 44-2635 shall have attained the age of majority, shall be competent, trustworthy, financially responsible, and of good personal and business reputation, and shall have been licensed as an agent, broker, or consult…
Neb. Rev. Stat. § 44-2622 Insurance consultant's license; examination.
0.4K chars
All individual applicants for licensure under sections 44-2606 to 44-2635 shall be examined by the director in such manner and form as the director prescribes. The applicant shall pass the examination with a grade determined by the director to indicate satisfactory knowledge and …
Neb. Rev. Stat. § 44-2623 Insurance consultant's license; examination; reexamination; fee.
0.8K chars
An applicant for a license under sections 44-2606 to 44-2635 shall pay or cause to be paid an examination fee as established by the director in advance of such examination. The fee shall not exceed one hundred dollars and shall cover all of the examinations given to the applicant…
Neb. Rev. Stat. § 44-2624 Insurance consultant; reexamination; when.
0.2K chars
The director may require a consultant, after notice and hearing and a finding that the consultant lacks competency, to submit to reexamination if the director has reason to believe that the consultant lacks competence.
Neb. Rev. Stat. § 44-2625 Nonresident applicant; reciprocity.
0.7K chars
The director may exempt from examination any nonresident applicant whose resident state or province has examination standards substantially the same as those of Nebraska, if such state or province has been recognized by the director by reciprocal arrangement. The director may acc…
Neb. Rev. Stat. § 44-2626 Insurance consultant's license; denial; when.
0.3K chars
The director may refuse to issue a consultant's license to an applicant if such applicant has failed to comply with any prerequisite for the issuance of such license, has made a material misstatement in the application for license, or has demonstrated untrustworthiness, financial…
Neb. Rev. Stat. § 44-2627 Insurance consultant's license; contents; expiration; reissuance.
1.4K chars
(1) The license shall state the name and resident address of the licensee, date of issuance, whether the licensee is qualified to consult in property and casualty, life, health, and annuities, and such other information as the director considers proper. (2) All corporate, partner…
Neb. Rev. Stat. § 44-2628 Insurance consultant's license; fee.
0.3K chars
A person holding a license issued under sections 44-2606 to 44-2635 shall pay to the department the required license fee as prescribed by section 44-2621. The department shall not issue a license to any person who fails to pay the required license fee when it becomes due except a…
Neb. Rev. Stat. § 44-2629 Insurance consultant; obligation.
0.3K chars
A consultant is obligated, under his or her license, to serve with objectivity and complete loyalty the interests of his or her client and to render his or her client such information, counsel, and service as within the knowledge, understanding, and opinion, in good faith of the …
Neb. Rev. Stat. § 44-2630 Insurance consultant; contract or agreement; conditions.
0.5K chars
No contract or agreement with an insurance consultant shall be enforceable by such consultant unless it is in writing and executed in duplicate by the person to be charged or by the authorized representative of such person. The agreement shall define the subject matter of the con…
Neb. Rev. Stat. § 44-2631 Insurance consultant; commission or compensation; receipt; unlawful; when.
0.5K chars
It shall be unlawful for any consultant, or any agency or sales organization with which he or she is connected, to receive any part of any commission or compensation paid by an insurer or agent of an insurer in connection with the sale or writing of any insurance which is within …
Neb. Rev. Stat. § 44-2632 Insurance consultant; contract; department approval; procedure.
0.6K chars
If a consultant is required to obtain approval of a contract by the department, such consultant shall complete and mail to the department a copy of the contract, attached to a departmental form, specifying the nature of the work to be performed, the fee arrangement, and an explan…
Neb. Rev. Stat. § 44-2633 Insurance consultant's license; revoked; suspended; placed on probation; grounds.
1.6K chars
The director may revoke, suspend, or place on probation, for such period as he or she may determine, the license of any consultant if, after notice and hearing, he or she determines that the licensee has: (1) Violated any of the provisions of sections 44-2606 to 44-2635, any insu…
Neb. Rev. Stat. § 44-2634 Violations; administrative fine; enforcement.
0.6K chars
Any person violating sections 44-2606 to 44-2635 may after notice and hearing be subject to an administrative fine of not more than five hundred dollars per violation. Such fine may be enforced in the same manner as civil judgments and may be in addition to any denial, suspension…
Neb. Rev. Stat. § 44-2635 Rules and regulations.
0.1K chars
The director may adopt and promulgate reasonable rules and regulations for the implementation and administration of sections 44-2606 to 44-2635.
Neb. Rev. Stat. § 44-2701 Purpose of act.
0.9K chars
The purpose of the Nebraska Life and Health Insurance Guaranty Association Act is to protect resident policyowners, insureds, including certificate holders under group insurance policies or contracts, beneficiaries, annuitants, payees, and assignees of life insurance policies, he…
Neb. Rev. Stat. § 44-2702 Terms, defined.
10.6K chars
As used in the Nebraska Life and Health Insurance Guaranty Association Act, unless the context otherwise requires: (1) Account means any of the three accounts created pursuant to section 44-2705; (2) Association means the Nebraska Life and Health Insurance Guaranty Association cr…
Neb. Rev. Stat. § 44-2703 Coverages authorized.
13.4K chars
(1)(a) The Nebraska Life and Health Insurance Guaranty Association Act shall provide coverage for the policies and contracts specified in subsection (2) of this section: (i) To persons who, regardless of where they reside, except for nonresident certificate holders under group po…
Neb. Rev. Stat. § 44-2704 Act; how construed.
0.1K chars
The Nebraska Life and Health Insurance Guaranty Association Act shall be construed to effect the purposes enumerated in section 44-2701.