reglab/housing_qa huggingface dataset:
NE Code § 44-4330 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4330 - Refunding bond proceeds; use.

44-4330.  Refunding bond proceeds; use.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 of any refunding bonds shall be deposited in trust to provide for the payment and retirement of the bonds being refunded, payment of interest and any redemption premiums, and payment of any expenses incurred in connection with such refunding, but provision may be made for the pledging and disposition of any surplus, including, without limitation, provision for the pledging of any such surplus to the payment of the principal of and interest on any issue or series of refunding bonds. Money in any such trust fund may be invested in direct obligations of or obligations the principal of and interest on which are guaranteed by the United States Government, in obligations of any agency or instrumentality of the United States Government, or in certificates of deposit issued by a bank or trust company if such certificates are secured by a pledge of any of such obligations having an aggregate market value, exclusive of accrued interest, equal at least to the principal amount of the certificates so secured. Nothing in this section shall be construed as a limitation on the duration of any deposit in trust for the retirement of obligations being refunded but which shall not have matured and which are not presently redeemable or, if presently redeemable, have not been called for redemption.Source  Laws 1987, LB 398, § 30.
NE Code § 44-4331 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4331 - Refunding bonds; procedures applicable.

44-4331.  Refunding bonds; procedures applicable.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 the Intergovernmental Risk Management Act relating to the issue of bonds other than refunding bonds insofar as the same may be applicable.Source  Laws 1987, LB 398, § 31.
NE Code § 44-4332 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4332 - Bonds; issuance; consent not required.

44-4332.  Bonds; issuance; consent not required.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 those proceedings, conditions, or things which are specifically required by the Intergovernmental Risk Management Act, and the validity of and security for any bonds shall not be affected by the existence or nonexistence of any such consent or other proceedings, conditions, or things.Source  Laws 1987, LB 398, § 32.
NE Code § 44-4333 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4333 - Bonds; publication; when required.

44-4333.  Bonds; publication; when required.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 circulation published in the county where the principal office or place of business of the risk management pool is located or, if no newspaper is so published, then in a newspaper qualified to carry legal notices having general circulation in such county.Source  Laws 1987, LB 398, § 33.
NE Code § 44-4334 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4334 - Notice of intention to issue bonds; contents.

44-4334.  Notice of intention to issue bonds; contents.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 of publishing the entire resolution or other proceeding, publish a notice of intention to issue bonds under the Intergovernmental Risk Management Act, titled as such, containing:(1) The name of the risk management pool;(2) The purpose of the issue, including a brief description of the project and the names of the public agencies to be serviced by the project;(3) The maximum principal amount of bonds to be issued;(4) The maturity date or dates and maximum amount maturing on such dates;(5) The maximum rate of interest payable on the bonds; and(6) The time and place where a copy of the form of the resolution or other proceeding providing for the issuance of the bonds may be examined, which copy shall be at an office of the risk management pool identified in the notice, during regular business hours of the risk management pool as described in the notice, for a period of at least thirty days after the publication of the notice.Source  Laws 1987, LB 398, § 34.
NE Code § 44-4335 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4335 - Bonds; issuance; right to contest.

44-4335.  Bonds; issuance; right to contest.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 purchase, sale, or lease, or any insurance policy contract, and after such time no one shall have any cause of action to contest the regularity, formality, or legality thereof for any cause whatsoever.Source  Laws 1987, LB 398, § 35.
NE Code § 44-4336 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4336 - Bonds; authorized as investments.

44-4336.  Bonds; authorized as investments.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 companies, personal representatives, administrators, trustees, and other fiduciaries may properly and legally invest funds, including capital in their control or belonging to them. Such bonds are hereby made securities which may properly and legally be deposited with and received by any officer or instrumentality of this state or any political subdivision for any purpose for which the deposit of bonds or obligations of this state or any political subdivision thereof is now or may hereafter be authorized by law.Source  Laws 1987, LB 398, § 36.
NE Code § 44-4337 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4337 - Bonds; risk management pool property; tax exempt.

44-4337.  Bonds; risk management pool property; tax exempt.(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 any property owned by a risk management pool in conjunction with any other person, is declared to be public property of a public agency used for essential public and governmental purposes. Such property and the income of a risk management pool shall be exempt from all taxes of the state or any member of a risk management pool or other public agency and shall be exempt from all special assessments of any participating member of a risk management pool.Source  Laws 1987, LB 398, § 37.
NE Code § 44-4338 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4338 - State of Nebraska; agreement with bond holders.

44-4338.  State of Nebraska; agreement with bond holders.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, impair, or limit the rights thereby vested until the bonds, together with applicable interest, are fully met and discharged and such contracts are fully performed. Nothing contained in the act shall preclude such alteration, impairment, or limitation if and when adequate provisions have been made by law for the protection of the holders of the bonds or persons entering into contracts with any risk management pool or member of a risk management pool. Each risk management pool and member of a risk management pool may include this pledge and undertaking for the state in such bonds or contracts.Source  Laws 1987, LB 398, § 38.
NE Code § 44-4339 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4339 - Act, how construed.

44-4339.  Act, how construed.The Intergovernmental Risk Management Act, being necessary for the welfare of the state and its inhabitants, shall be construed liberally to effect its purpose.Source  Laws 1987, LB 398, § 39.
NE Code § 44-4401 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4401 - Act, how cited.

44-4401.  Act, how cited.Sections 44-4401 to 44-4423 shall be known and may be cited as the Risk Retention Act.Source   Laws 1987, LB 514, § 1;   Laws 1991, LB 236, § 45.
NE Code § 44-4402 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4402 - Purpose of act.

44-4402.  Purpose of act.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 Liability Risk Retention Act of 1986.Source  Laws 1987, LB 514, § 2.
NE Code § 44-4406 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4406 - Premiums; taxable.

44-4406.  Premiums; taxable.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 each risk retention group to report and pay such taxes whether or not the group is licensed as an insurance company in this state and whether or not agents or brokers are utilized.Source  Laws 1987, LB 514, § 6.
NE Code § 44-4407 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4407 - Unfair trade and claims settlement practices laws; applicability.

44-4407.  Unfair trade and claims settlement practices laws; applicability.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 Settlement Practices Act and any rule or regulation issued under the act. If the director seeks an injunction regarding such conduct, the injunction shall be obtained from a court of competent jurisdiction.Source   Laws 1987, LB 514, § 7;   Laws 1991, LB 236, § 49;   Laws 1991, LB 234, § 36.  Cross References   Unfair Insurance Claims Settlement Practices Act, see section 44-1536.  Unfair Insurance Trade Practices Act, see section 44-1521.
NE Code § 44-4408 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4408 - Examination of financial condition; required.

44-4408.  Examination of financial condition; required.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 a request by the director. Any such examination shall be coordinated to avoid unjustified repetition and conducted in an expeditious manner and in accordance with the National Association of Insurance Commissioner's Examiner Handbook.Source   Laws 1987, LB 514, § 8;   Laws 1991, LB 236, § 50.
NE Code § 44-4409 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4409 - Notice; required.

44-4409.  Notice; required.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:NOTICETHIS POLICY IS ISSUED BY YOUR RISK RETENTION GROUP. YOUR RISK RETENTION GROUP MAY NOT BE SUBJECT TO ALL OF THE INSURANCE LAWS AND REGULATIONS OF YOUR STATE. STATE INSURANCE INSOLVENCY GUARANTY FUNDS ARE NOT AVAILABLE FOR YOUR RISK RETENTION GROUP.Source   Laws 1987, LB 514, § 9;   Laws 1991, LB 236, § 51.
NE Code § 44-4410 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4410 - Prohibited acts.

44-4410.  Prohibited acts.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.Source  Laws 1987, LB 514, § 10.
NE Code § 44-4411 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4411 - Member or owner; prohibitions.

44-4411.  Member or owner; prohibitions.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.Source  Laws 1987, LB 514, § 11.
NE Code § 44-4412 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4412 - Insurance coverage; prohibitions.

44-4412.  Insurance coverage; prohibitions.A risk retention group may not offer insurance coverage prohibited by Chapter 44 or declared unlawful by the Supreme Court.Source  Laws 1987, LB 514, § 12.
NE Code § 44-4413 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4413 - Financial impairment; compliance with order.

44-4413.  Financial impairment; compliance with order.A risk retention group which is not chartered and licensed in this state and which is doing business in this state shall comply with a lawful order issued in a voluntary dissolution proceeding or in a delinquency proceeding commenced by the director or the commissioner of any other state if there has been a finding of financial impairment after an examination under section 44-4408.Source   Laws 1987, LB 514, § 13;   Laws 1991, LB 236, § 52.
NE Code § 44-4414 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4414 - Guaranty fund; membership; coverage.

44-4414.  Guaranty fund; membership; coverage.(1) A risk retention group shall not join or contribute financially to any insurance insolvency guaranty fund or similar mechanism in this state nor shall any risk retention group or its insureds receive any benefit from any such fund for claims arising out of operations of such risk retention group.(2) When a purchasing group obtains insurance covering its members' risks from an insurer not admitted in this state or a risk retention group, no such risks, wherever resident or located, shall be covered by any insurance insolvency guaranty fund or similar mechanism in this state.(3) When a purchasing group obtains insurance covering its members' risks from an insurer admitted in this state, only risks resident or located in this state shall be covered by the Nebraska Property and Liability Insurance Guaranty Association Act.Source   Laws 1987, LB 514, § 14;   Laws 1991, LB 236, § 53.  Cross References  Nebraska Property and Liability Insurance Guaranty Association Act, see section 44-2418.
NE Code § 44-4416 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4416 - Purchasing group; exemption from insurance laws; when.

44-4416.  Purchasing group; exemption from insurance laws; when.Any purchasing group meeting the criteria established under the federal Liability Risk Retention Act of 1986 shall be exempt from any law of this state relating to the creation of groups for the purchase of insurance or to the prohibition of group purchasing or any law that would discriminate against a purchasing group or its members. In addition, an insurer shall be exempt from any law of this state which prohibits providing or offering to provide to a purchasing group or its members advantages based on their loss and expense experience not afforded to other persons with respect to rates, policy forms, coverages, or other matters. A purchasing group shall be subject to all other applicable laws of this state.Source  Laws 1987, LB 514, § 16.
NE Code § 44-4417 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4417 - Purchasing group; notice; requirements; registration fees.

44-4417.  Purchasing group; notice; requirements; registration fees.(1) A purchasing group which intends to do business in this state shall, prior to doing business, furnish notice to the director which shall:(a) Identify the state in which the purchasing group is domiciled;(b) Identify all other states in which the purchasing group intends to do business;(c) Specify the lines and classifications of liability insurance which the purchasing group intends to purchase;(d) Identify the insurance company from which the group intends to purchase its insurance and the domicile of such company;(e) Specify the method by which and the person or persons, if any, through whom insurance will be offered to its members whose risks are resident or located in this state;(f) Identify the principal place of business of the group; and(g) Provide such other information as may be required by the director to verify that the purchasing group is qualified under subdivision (12) of section 44-4403.(2) A purchasing group which intends to do business in this state shall include an initial registration fee of one hundred dollars at the time it furnishes notice to the director pursuant to subsection (1) of this section. A purchasing group shall pay an additional fee of one hundred dollars to the director on October 1 of each year thereafter so long as such registration continues. The fees required by this subsection shall be payable to the department and shall be remitted to the State Treasurer for credit to the Department of Insurance Cash Fund.(3) A purchasing group shall, within ten days, notify the director of any changes in the items set forth in subsection (1) of this section.(4) A purchasing group shall register with and designate the director as its agent solely for the purpose of receiving service of legal documents or process, except that such requirement shall not apply in the case of a purchasing group that:(a) Was domiciled before April 1, 1986, and is domiciled on and after October 27, 1986, in any state of the United States;(b) Before October 27, 1986, purchased insurance from an insurance carrier licensed in any state;(c) Since October 27, 1986, purchased its insurance from an insurance carrier licensed in any state;(d) Was a purchasing group under the requirements of the federal Product Liability Risk Retention Act of 1981 before October 27, 1986; and(e) Does not purchase insurance that was not authorized for purposes of an exemption under the federal Product Liability Risk Retention Act of 1981 as in effect before October 27, 1986.(5) Each purchasing group that is required to give notice pursuant to subsection (1) of this section shall also furnish such information as may be required by the director to:(a) Verify that the entity qualifies as a purchasing group;(b) Determine where the purchasing group is located; and(c) Determine appropriate tax treatment.Source   Laws 1987, LB 514, § 17;   Laws 1991, LB 236, § 54;   Laws 1994, LB 978, § 30.
NE Code § 44-4418 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4418 - Purchasing group; purchase of insurance; authorized; when.

44-4418.  Purchasing group; purchase of insurance; authorized; when.(1) A purchasing group shall not purchase insurance from a risk retention group that is not chartered and licensed in a state or from an insurer not admitted in the state in which the purchasing group is located, unless the purchase is effected through a licensed agent or broker acting pursuant to the surplus lines laws, rules, and regulations of such state, except that such licensed agent or broker need not be a resident of this state.(2) A purchasing group which obtains liability insurance from an insurer not admitted in this state or from a risk retention group shall inform each of the members of the purchasing group which have a risk resident or located in this state that such risk is not protected by an insurance insolvency guaranty fund in this state and that such risk retention group or such insurer may not be subject to all insurance laws, rules, and regulations of this state.(3) No purchasing group may purchase insurance providing for a deductible or self-insured retention applicable to the group as a whole, but coverage may provide for a deductible or self-insured retention applicable to individual members.(4) Purchases of insurance by purchasing groups are subject to the same standards regarding aggregate limits which are applicable to all purchases of group insurance.Source   Laws 1987, LB 514, § 18;   Laws 1991, LB 236, § 55.
NE Code § 44-4418.01 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4418.01 - Purchasing group; premium taxes.

44-4418.01.  Purchasing group; premium taxes.Premium taxes and taxes on premiums paid for coverage of risks resident or located in this state by a purchasing group or any members of the purchasing group shall be:(1) Imposed at the same rate and subject to the same interest, fines, and penalties as applicable to premium taxes and taxes on premiums paid for similar coverage from a similar insurance source by other insureds; and(2) Paid first by such insurance source if an insurer admitted in this state and, if not an insurer admitted in this state, by the surplus lines licensee acting as agent or broker for the purchasing group.Source  Laws 1991, LB 236, § 56.
NE Code § 44-4419 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4419 - Director; administrative powers.

44-4419.  Director; administrative powers.The director may make use of any of the powers established under Chapter 44 to enforce the laws of this state if those powers are not specifically preempted by the federal Product Liability Risk Retention Act of 1981 as amended by the Risk Retention Amendments of 1986. Such powers shall include, but not be limited to, administrative authority to investigate, issue subpoenas, conduct depositions and hearings, issue orders, and impose penalties. With regard to any investigation, administrative proceedings, or litigation, the director may rely on the procedural law, rules, and regulations of this state. The injunctive authority of the director in regard to risk retention groups shall be restricted by the requirement that any injunction be issued by a court of competent jurisdiction.Source  Laws 1987, LB 514, § 19.
NE Code § 44-4420 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4420 - Violations; penalties.

44-4420.  Violations; penalties.A risk retention group which violates any provision of the Risk Retention Act shall be subject to fines and penalties applicable to licensed insurers generally, including revocation of its license to do business in this state.Source  Laws 1987, LB 514, § 20.