reglab/housing_qa huggingface dataset:
NE Code § 44-2123 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2123 - Additional investments authorized.

44-2123.  Additional investments authorized.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 which do not exceed the lesser of five percent of such insurer's assets or fifty percent of such insurer's policyholders surplus if, after such investments, the insurer's policyholders surplus will be reasonable in relation to the insurer's outstanding liabilities and adequate to its financial needs. In calculating the amount of such investments, investments in domestic or foreign insurance subsidiaries shall be excluded and there shall be included:(a) Total net funds or other consideration expended and obligations assumed in the acquisition or formation of a subsidiary, including all organizational expenses and contributions to capital and surplus of such subsidiary whether or not represented by the purchase of capital stock or issuance of other securities; and(b) All amounts expended in acquiring additional common stock, preferred stock, debt obligations, and other securities and all contributions to the capital or surplus of a subsidiary subsequent to its acquisition or formation;(2) Invest any amount in common stock, preferred stock, debt obligations, and other securities of one or more subsidiaries engaged or organized to engage exclusively in the ownership and management of assets authorized as investments for the insurer if each such subsidiary agrees to limit its investments in any asset so that such investments will not cause the amount of the total investment of the insurer to exceed any of the investment limitations specified in subdivision (1) of this section or in Chapter 44 applicable to the insurer. For purposes of this subdivision, the total investment of the insurer shall include:(a) Any direct investment by the insurer in an asset; and(b) The insurer's proportionate share of any investment in an asset by any subsidiary of the insurer, which share shall be calculated by multiplying the amount of the subsidiary's investment by the percentage of the ownership of such subsidiary; and(3) With the approval of the director, invest any greater amount in common stock, preferred stock, debt obligations, or other securities of one or more subsidiaries if after such investment the insurer's policyholders surplus will be reasonable in relation to the insurer's outstanding liabilities and adequate to its financial needs.Source   Laws 1991, LB 236, § 4;   Laws 1993, LB 583, § 83.
NE Code § 44-2124 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2124 - Additional investments; qualification; when determined.

44-2124.  Additional investments; qualification; when determined.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 outstanding principal balance on all previous investments in debt obligations, and the value of all previous investments in equity securities as of the day they were made, net of any return of capital invested, not including dividends.Source  Laws 1991, LB 236, § 5.
NE Code § 44-2125 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2125 - Investments in subsidiary; disposal; when.

44-2125.  Investments in subsidiary; disposal; when.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 time after such investment has been made, such investment has met the requirements for investment under any other provision of Chapter 44 and the insurer has notified the director thereof.Source  Laws 1991, LB 236, § 6.
NE Code § 44-2128 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2128 - Merger; acquisition; exempt transactions.

44-2128.  Merger; acquisition; exempt transactions.Section 44-2126 shall not apply to:(1) Any transaction which is subject to the provisions of the Nebraska Model Business Corporation Act and sections 44-224.01 to 44-224.10, except as otherwise provided in Chapter 44, dealing with the merger or consolidation of two or more insurers; or(2) Any offer, request, invitation, agreement, or acquisition which the director by order shall exempt therefrom as (a) not having been made or entered into for the purpose and not having the effect of changing or influencing the control of a domestic insurer or (b) otherwise not comprehended within the purposes of section 44-2126.Source   Laws 1991, LB 236, § 9;   Laws 1995, LB 109, § 221;  Laws 2014, LB749, § 287. Cross References  Nebraska Model Business Corporation Act, see section 21-201.
NE Code § 44-2129 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2129 - Acquisition; divestiture; merger; prohibited acts.

44-2129.  Acquisition; divestiture; merger; prohibited acts.(1) It shall be a violation of section 44-2126 to fail to file any statement, amendment, or other material required to be filed under such section.(2) It shall be a violation of section 44-2127 to effectuate or attempt to effectuate an acquisition of control of, divestiture of, or merger with a domestic insurer unless the director has given his or her approval thereto.Source   Laws 1991, LB 236, § 10;  Laws 2012, LB887, § 7.
NE Code § 44-2130 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2130 - Merger; acquisition; jurisdiction; consent to service of process.

44-2130.  Merger; acquisition; jurisdiction; consent to service of process.The courts of this state are hereby vested with jurisdiction over every person not resident, domiciled, or authorized to do business in this state who files a statement with the director under section 44-2126 and over all actions involving such person arising out of violations of section 44-2126 or 44-2127, and each such person shall be deemed to have performed acts equivalent to and constituting an appointment by such a person of the director to be such person's attorney upon whom may be served all lawful process in any action, suit, or proceeding arising out of violations of such sections. Copies of all such lawful process shall be served on the director and transmitted by registered or certified mail by the director to such person at his or her last-known address.Source  Laws 1991, LB 236, § 11.
NE Code § 44-2131 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2131 - Fees.

44-2131.  Fees.The total fee for filing the documents required by sections 44-2126 to 44-2130 and all amendments to such filings shall be one thousand dollars. The initial fee for registration required by the provisions of section 44-2132 shall be one thousand dollars, and an additional fee of two hundred dollars shall be payable on May 1 of each calendar year thereafter so long as such registration continues. The fees provided for by this section shall be payable to the Department of Insurance and shall be remitted to the State Treasurer for credit to the Department of Insurance Cash Fund.Source   Laws 1991, LB 236, § 34;   Laws 1993, LB 583, § 84;  Laws 2005, LB 119, § 10.
NE Code § 44-2134 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2134 - Extraordinary dividends and distributions.

44-2134.  Extraordinary dividends and distributions.(1) No domestic insurer shall pay any extraordinary dividend or make any other extraordinary distribution to its shareholders until (a) thirty days after the director has received notice of the declaration thereof and the director has not within such period disapproved such payment or (b) the director has approved such payment within such thirty-day period.(2) For purposes of this section, an extraordinary dividend or distribution shall include any dividend or distribution of cash or other property the fair market value of which together with that of other dividends or distributions made within the preceding twelve months exceeds the greater of (a) ten percent of such insurer's policyholders surplus as of December 31 next preceding or (b) the net gain from operations of such insurer if such insurer is a life insurer or the net income if such insurer is not a life insurer, not including realized capital gains, for the twelve-month period ending December 31 next preceding but shall not include pro rata distributions of any class of the insurer's own securities. In determining whether a dividend or distribution is extraordinary, an insurer other than a life insurer may carry forward net income from the previous two calendar years that has not already been paid out as dividends. This carryforward shall be computed by taking the net income from the second and third preceding calendar years, not including realized capital gains, less dividends paid in the second and immediate preceding calendar years.(3) Notwithstanding any other provision of law, an insurer may declare an extraordinary dividend or distribution which is conditional upon the director's approval thereof, and such a declaration shall confer no rights upon shareholders until (a) the director has approved the payment of such a dividend or distribution or (b) the director has not disapproved such payment within the thirty-day period referred to in subsection (1) of this section.Source   Laws 1991, LB 236, § 14;   Laws 1996, LB 689, § 3.
NE Code § 44-2135 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2135 - Management of domestic insurer.

44-2135.  Management of domestic insurer.(1) Notwithstanding the control of a domestic insurer by any person, the officers and directors of the insurer shall not thereby be relieved of any obligation or liability to which they would otherwise be subject by law, and the insurer shall be managed so as to assure its separate operating identity consistent with the Insurance Holding Company System Act.(2) Nothing in this section shall preclude a domestic insurer from having or sharing a common management or cooperative or joint use of personnel, property, or services with one or more other persons under arrangements meeting the standards of subsection (1) of section 44-2133.(3) Not less than one-third of the directors of a domestic insurer which is a member of an insurance holding company system shall be persons who are not officers or employees of such insurer or of any entity controlling, controlled by, or under common control with such insurer and who are not beneficial owners of a controlling interest in the voting stock of such insurer or any such entity. At least one such person shall be included in any quorum for the transaction of business at any meeting of the board of directors.(4) Subsection (3) of this section shall not apply to a domestic insurer if the person controlling such insurer, such as an insurer, a mutual insurance holding company, or a publicly held corporation, has a board of directors that meets the requirements of such subsection with respect to such controlling entity.(5) An insurer may make application to the director for a waiver from the requirements of this section if the insurer's annual direct written and assumed premium, excluding premiums reinsured with the Federal Crop Insurance Corporation and the national flood insurance program as defined in section 31-1014, is less than three hundred million dollars. An insurer may also make application to the director for a waiver from the requirements of this section based upon unique circumstances. The director may consider various factors including, but not limited to, the type of business entity, volume of business written, availability of qualified board members, or ownership or organizational structure of the entity.Source   Laws 1991, LB 236, § 15;  Laws 2012, LB887, § 10.
NE Code § 44-2136 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2136 - Adequacy of surplus; factors.

44-2136.  Adequacy of surplus; factors.For purposes of the Insurance Holding Company System Act, in determining whether an insurer's policyholders surplus is reasonable in relation to the insurer's outstanding liabilities and adequate to its financial needs, the following factors, among others, shall be considered:(1) The size of the insurer as measured by its assets, capital and surplus, reserves, premium writings, insurance in force, and other appropriate criteria;(2) The extent to which the insurer's business is diversified among the several lines of insurance;(3) The number and size of risks insured in each line of business;(4) The extent of the geographical dispersion of the insurer's insured risks;(5) The nature and extent of the insurer's reinsurance program;(6) The quality, diversification, and liquidity of the insurer's investment portfolio;(7) The recent past and projected future trend in the size of the insurer's investment portfolio;(8) The policyholders surplus maintained by other comparable insurers;(9) The adequacy of the insurer's reserves; and(10) The quality and liquidity of investments in affiliates. The director may treat any such investment as a disallowed asset for purposes of determining the adequacy of policyholders surplus whenever in his or her judgment such investment so warrants.Source  Laws 1991, LB 236, § 16.
NE Code § 44-2137.01 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2137.01 - Director; participate in supervisory college; powers; insurer; payment of expenses.

44-2137.01.  Director; participate in supervisory college; powers; insurer; payment of expenses.(1) With respect to any insurer registered under section 44-2132 and in accordance with subsection (3) of this section, the director may participate in a supervisory college for any domestic insurer that is part of an insurance holding company system with international operations in order to determine compliance with Chapter 44 by the insurer. The powers of the director with respect to supervisory colleges include, but are not limited to, the following:(a) Initiating the establishment of a supervisory college;(b) Clarifying the membership and participation of other supervisors in the supervisory college;(c) Clarifying the functions of the supervisory college and the role of other regulators, including the establishment of a group-wide supervisor;(d) Coordinating the ongoing activities of the supervisory college, including planning meetings, supervisory activities, and processes for information sharing; and(e) Establishing a crisis management plan.(2) Each insurer subject to this section shall be liable for and shall pay the reasonable expenses of the director's participation in a supervisory college in accordance with subsection (3) of this section, including reasonable travel expenses.(3) In order to assess the business strategy, financial position, legal and regulatory position, risk exposure, risk management, and governance processes, and as part of the examination of individual insurers in accordance with section 44-2137, the director may participate in a supervisory college with other regulators charged with supervision of the insurer or its affiliates, including other state, federal, and international regulatory agencies. The director may enter into agreements in accordance with section 44-2138 providing the basis for cooperation between the director and the other regulatory agencies and the activities of the supervisory college.(4) For purposes of this section, a supervisory college may be convened as either a temporary or permanent forum for communication and cooperation between the regulators charged with the supervision of the insurer or its affiliates, and the director may establish a regular assessment to the insurer for the payment of such expenses.(5) Nothing in this section shall delegate to the supervisory college the authority of the director to regulate or supervise the insurer or its affiliates within its jurisdiction.Source Laws 2012, LB887, § 12.
NE Code § 44-2139 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2139 - Director; rules and regulations.

44-2139.  Director; rules and regulations.The director may adopt and promulgate such rules and regulations and issue such orders as necessary to carry out the Insurance Holding Company System Act.Source   Laws 1991, LB 236, § 19;  Laws 2012, LB887, § 14. Annotations The director of the Department of Insurance should not be impeded in choices of remedy and protective measures by the enumerated powers of the Insurance Holding Company System Act. The importance of the director's duties as a watchdog for policyholders, and the fact that the director is the only watchdog whose authority can bind domestic insurers, counsel in favor of a broad construction of the Insurance Holding Company System Act and the remedies provided therein. CenTra, Inc. v. Chandler Ins. Co., 248 Neb. 844, 540 N.W.2d 318 (1995).
NE Code § 44-2140 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2140 - Injunctions.

44-2140.  Injunctions.Whenever it appears to the director that any insurer or any director, officer, employee, or agent thereof has committed or is about to commit a violation of the Insurance Holding Company System Act or of any rule, regulation, or order of the director, the director may apply to the district court of Lancaster County for an order enjoining such insurer, director, officer, employee, or agent from violating or continuing to violate the act or any such rule, regulation, or order and for such other equitable relief as the nature of the case and the interest of the insurer's policyholders, creditors, and shareholders or the public may require.Source  Laws 1991, LB 236, § 20.
NE Code § 44-2141 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2141 - Voting of securities; when prohibited; injunction.

44-2141.  Voting of securities; when prohibited; injunction.No security which is the subject of any agreement or arrangement regarding acquisition, or which is acquired or to be acquired, in contravention of the Insurance Holding Company System Act or of any rule, regulation, or order of the director may be voted at any shareholder's meeting or may be counted for quorum purposes, and any action of shareholders requiring the affirmative vote of a percentage of shares may be taken as though such securities were not issued and outstanding, but no action taken at any such meeting shall be invalidated by the voting of such securities unless the action would materially affect control of the insurer or unless the courts of this state have so ordered. If an insurer or the director has reason to believe that any security of the insurer has been or is about to be acquired in contravention of the act or of any rule, regulation, or order of the director, the insurer or the director may apply to the district court of Lancaster County for an order to enjoin any offer, request, invitation, agreement, or acquisition made in contravention of sections 44-2126 to 44-2130 or any rule, regulation, or order of the director to enjoin the voting of any security so acquired, to void any vote of such security already cast at any meeting of shareholders, and for such other equitable relief as the nature of the case and the interest of the insurer's policyholders, creditors, and shareholders or the public may require.Source  Laws 1991, LB 236, § 21.
NE Code § 44-2142 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2142 - Seizure or sequestration of voting securities.

44-2142.  Seizure or sequestration of voting securities.In any case when a person has acquired or is proposing to acquire any voting securities in violation of the Insurance Holding Company System Act or any rule, regulation, or order of the director, the district court of Lancaster County may, on such notice as the court deems appropriate, upon the application of the insurer or the director seize or sequester any voting securities of the insurer owned directly or indirectly by such person and issue such order with respect thereto as may be appropriate to effectuate the act. Notwithstanding any other provisions of law, for purposes of the act the sites of the ownership of the securities of domestic insurers shall be deemed to be in this state.Source  Laws 1991, LB 236, § 22.
NE Code § 44-2143 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2143 - Prohibited acts; administrative penalties; unfair trade practice.

44-2143.  Prohibited acts; administrative penalties; unfair trade practice.(1) Any insurer which fails, without just cause, to file any registration statement as required by section 44-2132 may be required by the director, after notice and hearing, to pay an administrative penalty of one hundred dollars for each day's delay not to exceed an aggregate penalty of ten thousand dollars. The director may reduce the penalty if the insurer demonstrates to the director that the imposition of the penalty would constitute a financial hardship to the insurer.(2) Any insurer which fails to notify the director of any transaction, dividend, or distribution as required by sections 44-2132 to 44-2134 may be required by the director, after notice and hearing, to pay an administrative penalty of not more than two thousand five hundred dollars per violation.(3) Any violation of sections 44-2132 to 44-2134 shall be an unfair trade practice in the business of insurance subject to the Unfair Insurance Trade Practices Act in addition to any other remedies and penalties available under the laws of this state.Source   Laws 1991, LB 236, § 23;   Laws 1994, LB 978, § 28.  Cross References  Unfair Insurance Trade Practices Act, see section 44-1521.
NE Code § 44-2144 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2144 - Director or officer; administrative penalty; when.

44-2144.  Director or officer; administrative penalty; when.Any director or officer of an insurance holding company system who knowingly violates or assents to or permits any officer or agent of the insurer to violate the requirements of subsection (1) of section 44-2132 or section 44-2133 or 44-2134 may be required by the director, after notice and hearing, to pay in his or her individual capacity an administrative penalty of not more than five thousand dollars per violation. In determining the amount of the penalty, the director shall take into account the appropriateness of the penalty with respect to the gravity of the violation, the history of previous violations, and such other matters as justice may require.Source  Laws 1991, LB 236, § 24.
NE Code § 44-2145 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2145 - Cease and desist orders; other orders.

44-2145.  Cease and desist orders; other orders.Whenever it appears to the director that any insurer or any director, officer, employee, or agent thereof has engaged in any transaction or entered into a contract which is subject to sections 44-2133 to 44-2136 and which would not have been approved had such approval been requested, the director may order the insurer to cease and desist immediately any further activity under that transaction or contract. After notice and hearing, the director may also order the insurer to void any such contracts and restore the status quo if such action is in the best interest of the policyholders, the creditors, or the public.Source  Laws 1991, LB 236, § 25.
NE Code § 44-2146 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2146 - Violations; criminal penalty.

44-2146.  Violations; criminal penalty.Any insurer which willfully violates the Insurance Holding Company System Act shall be guilty of a Class IV felony. Any director, officer, employee, or agent of an insurer who willfully violates the act shall be guilty of a Class IV felony.Source  Laws 1991, LB 236, § 26.