reglab/housing_qa huggingface dataset:
NE Code § 44-5515 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5515 - Exempt commercial purchaser; taxes; form.

44-5515.  Exempt commercial purchaser; taxes; form.Every exempt commercial purchaser whose home state is the State of Nebraska shall, on or before March 1 for the quarter ending the preceding December 31, June 1 for the quarter ending the preceding March 31, September 1 for the quarter ending the preceding June 30, and December 1 for the quarter ending the preceding September 30 of each year, pay to the department a tax in the amount required by subsection (2) of section 44-5506. The calculation of the taxes due pursuant to this section shall be based only on those premiums remitted for the placement or procurement of insurance by an exempt commercial purchaser whose home state is the State of Nebraska. The department shall prescribe a form for an exempt commercial purchaser tax filing.Source  Laws 2007, LB117, § 24;  Laws 2011, LB70, § 9;  Laws 2016, LB837, § 2.
NE Code § 44-5601 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5601 - Act, how cited.

44-5601.  Act, how cited.Sections 44-5601 to 44-5613 shall be known and may be cited as the Reinsurance Intermediary Act.Source   Laws 1992, LB 1006, § 55;  Laws 2002, LB 1139, § 38.
NE Code § 44-5603.01 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5603.01 - Nonresident reinsurance intermediary license; reciprocal licensure; continuing education.

44-5603.01.  Nonresident reinsurance intermediary license; reciprocal licensure; continuing education.(1) The director shall waive any requirements for a nonresident reinsurance intermediary license applicant with a valid license from the applicant's home state, except the requirements imposed by section 44-5603, if the applicant's home state awards nonresident licenses to residents of this state on the same basis.(2) A nonresident reinsurance intermediary's satisfaction of any applicable home-state continuing education requirements, if any, for licensed insurance producers or reinsurance intermediaries shall constitute satisfaction of the continuing education requirements of this state if the home state of the reinsurance intermediary recognizes the satisfaction of its continuing education requirements imposed upon insurance producers or reinsurance intermediaries from this state on the same basis.Source Laws 2002, LB 1139, § 40.
NE Code § 44-5603.02 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5603.02 - Licensed reinsurance intermediary; consent to jurisdiction.

44-5603.02.  Licensed reinsurance intermediary; consent to jurisdiction.A reinsurance intermediary, by accepting licensure in this state, is deemed to have consented to the jurisdiction of the director and of the courts of this state with respect to all activities conducted under the license and to have designated the director as its agent for service of process. Each licensed reinsurance intermediary shall furnish the director with the name and address of a designated contact resident of this state to whom notices or orders of the director or process affecting the reinsurance intermediary may be forwarded. The licensee shall promptly notify the director in writing of every change in its designated contact for service of process, and such changes shall not become effective until acknowledged by the director.Source Laws 2002, LB 1139, § 41.
NE Code § 44-5604 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5604 - Reinsurance; written authorization required; contents.

44-5604.  Reinsurance; written authorization required; contents.Transactions between a reinsurance intermediary-broker and the insurer it represents in such capacity shall only be entered into pursuant to a written authorization specifying the responsibilities of each party. The authorization shall at a minimum provide that:(1) The insurer may terminate the reinsurance intermediary-broker's authority at any time;(2) The reinsurance intermediary-broker will render accounts to the insurer accurately detailing all material transactions, including information necessary to support all commissions, charges, and other fees received by or owing to the reinsurance intermediary-broker, and will remit all funds due to the insurer within thirty days of receipt;(3) All funds collected for the insurer's account will be held by the reinsurance intermediary-broker in a fiduciary capacity in a bank which is a qualified United States financial institution;(4) The reinsurance intermediary-broker will comply with section 44-5605;(5) The reinsurance intermediary-broker will comply with the written standards established by the insurer for the cession or retrocession of all risks; and(6) The reinsurance intermediary-broker will disclose to the insurer any relationship with any reinsurer to which business will be ceded or retroceded.Source  Laws 1992, LB 1006, § 58.
NE Code § 44-5605 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5605 - Reinsurance intermediary-broker; records; requirements.

44-5605.  Reinsurance intermediary-broker; records; requirements.For at least ten years after expiration of each contract of reinsurance transacted by a reinsurance intermediary-broker, the reinsurance intermediary-broker shall keep a complete record for each transaction showing:(1) Type of contract, limits, underwriting restrictions, classes or risks, and territory;(2) Period of coverage, including effective and expiration dates, cancellation provisions, and notice required of cancellation;(3) Reporting and settlement requirements of balances;(4) Rate used to compute the reinsurance premium;(5) Names and addresses of assuming reinsurers;(6) Rates of all reinsurance commissions, including the commissions on any retrocessions handled by the reinsurance intermediary-broker;(7) Related correspondence and memoranda;(8) Proof of placement;(9) Details regarding retrocessions handled by the reinsurance intermediary-broker, including the identity of retrocessionaires and percentage of each contract assumed or ceded;(10) Financial records, including premium and loss accounts; and(11) When the reinsurance intermediary-broker procures a reinsurance contract on behalf of a ceding insurer:(a) Directly from any assuming reinsurer, written evidence that the assuming reinsurer has agreed to assume the risk; or(b) If placed through a representative of the assuming reinsurer other than an employee, written evidence that the assuming reinsurer has delegated binding authority to the representative.The insurer shall have access to and the right to copy and audit all accounts and records maintained by the reinsurance intermediary-broker related to its business in a form usable by the insurer.Source  Laws 1992, LB 1006, § 59.
NE Code § 44-5606 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5606 - Insurer; prohibited acts; copy of statement of financial condition; obtain.

44-5606.  Insurer; prohibited acts; copy of statement of financial condition; obtain.(1) An insurer shall not engage the services of any person, firm, association, or corporation to act as a reinsurance intermediary-broker on its behalf unless such person, firm, association, or corporation is licensed as required by subsection (1) of section 44-5603.(2) An insurer may not employ a person who is employed by a reinsurance intermediary-broker with which it transacts business unless such reinsurance intermediary-broker is under common control with the insurer and subject to the Insurance Holding Company System Act.(3) An insurer shall annually obtain a copy of statements of the financial condition of each reinsurance intermediary-broker with which it transacts business.Source  Laws 1992, LB 1006, § 60. Cross References  Insurance Holding Company System Act, see section 44-2120.
NE Code § 44-5608 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5608 - Reinsurance intermediary-manager; prohibited acts.

44-5608.  Reinsurance intermediary-manager; prohibited acts.A reinsurance intermediary-manager shall not:(1) Cede retrocessions on behalf of the reinsurer, except that the reinsurance intermediary-manager may cede facultative retrocessions pursuant to obligatory facultative agreements if the contract with the reinsurer contains reinsurance underwriting guidelines for such retrocessions. Such guidelines shall include a list of reinsurers with which such automatic agreements are in effect and, for each such reinsurer, the coverages and amounts or percentages that may be reinsured and commission schedules;(2) Commit the reinsurer to participate in reinsurance syndicates;(3) Appoint any producer without assuring that the producer is lawfully licensed to transact the type of reinsurance for which he or she is appointed;(4) Without prior approval of the reinsurer, pay or commit the reinsurer to pay a claim, net of retrocessions, that exceeds the lesser of an amount specified by the reinsurer or one percent of the reinsurer's policyholders surplus as of December 31 of the last complete calendar year;(5) Collect any payment from a retrocessionaire or commit the reinsurer to any claim settlement with a retrocessionaire, without prior approval of the reinsurer. If prior approval is given, a report shall be promptly forwarded to the reinsurer;(6) Jointly employ an individual who is employed by the reinsurer unless such reinsurance intermediary-manager is under common control with the reinsurer subject to the Insurance Holding Company System Act; or(7) Appoint a sub-reinsurance-intermediary-manager.Source  Laws 1992, LB 1006, § 62. Cross References  Insurance Holding Company System Act, see section 44-2120.
NE Code § 44-5609 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5609 - Reinsurer; prohibited acts; requirements.

44-5609.  Reinsurer; prohibited acts; requirements.(1) A reinsurer shall not engage the services of any person, firm, association, or corporation to act as a reinsurance intermediary-manager on its behalf unless such person, firm, association, or corporation is licensed as required by subsection (2) of section 44-5603.(2) The reinsurer shall annually obtain a copy of statements of the financial condition of each reinsurance intermediary-manager which such reinsurer has engaged prepared by an independent certified public accountant in a form acceptable to the director.(3) If a reinsurance intermediary-manager establishes loss reserves, the reinsurer shall annually obtain the opinion of an independent actuary attesting to the adequacy of loss reserves established for losses incurred and outstanding on business produced by the reinsurance intermediary-manager. The opinion shall be in addition to any other required loss reserve certification.(4) Binding authority for all retrocessional contracts or participation in reinsurance syndicates shall rest with an officer of the reinsurer who is not affiliated with the reinsurance intermediary-manager.(5) Within thirty days of termination of a contract with a reinsurance intermediary-manager, the reinsurer shall provide written notification of such termination to the director.(6) A reinsurer shall not appoint to its board of directors, any officer, director, employee, controlling shareholder, or subproducer of its reinsurance intermediary-manager. This subsection shall not apply to relationships governed by the Insurance Holding Company System Act or the Producer-Controlled Property and Casualty Insurer Act.Source  Laws 1992, LB 1006, § 63. Cross References   Insurance Holding Company System Act, see section 44-2120.  Producer-Controlled Property and Casualty Insurer Act, see section 44-5701.
NE Code § 44-5610 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5610 - Reinsurance intermediary; examination by director.

44-5610.  Reinsurance intermediary; examination by director.A reinsurance intermediary shall be subject to examination by the director. The director shall have access to all books, bank accounts, and records of the reinsurance intermediary in a form usable to the director. The cost of examination shall be paid by the reinsurance intermediary in the manner provided in Chapter 44 for insurance companies.Source  Laws 1992, LB 1006, § 64.
NE Code § 44-5611 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5611 - Violations; penalties; action for damages; act, how construed.

44-5611.  Violations; penalties; action for damages; act, how construed.(1) If the director determines that the reinsurance intermediary or any other person has not materially complied with the Reinsurance Intermediary Act, any rule or regulation adopted and promulgated thereunder, or any order issued thereunder, after notice and opportunity to be heard in accordance with the Administrative Procedure Act, the director may:(a) For each separate violation, order a penalty in an amount not exceeding five thousand dollars;(b) Order revocation or suspension of the reinsurance intermediary's license; and(c) If it was found that because of such material noncompliance that the insurer or reinsurer has suffered any loss or damage, maintain a civil action brought by or on behalf of the reinsurer or insurer and its policyholders and creditors for recovery of damages for the benefit of the reinsurer or insurer and its policyholders and creditors and other appropriate relief.(2) If an order of rehabilitation or liquidation of the insurer has been entered pursuant to the Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act, and the receiver appointed under the order determines that the reinsurance intermediary or any other person has not materially complied with the Reinsurance Intermediary Act, any rule and regulation adopted and promulgated thereunder, or any order issued thereunder, and the insurer suffered any loss or damage therefrom, the receiver may maintain a civil action for recovery of damages and other appropriate relief for the benefit of the insurer.(3) This section shall not affect the right of the director to impose any other penalties provided for in Chapter 44.(4) The Reinsurance Intermediary Act is not intended to and shall not in any manner limit or restrict the rights of policyholders, claimants, creditors, and other third parties.Source   Laws 1992, LB 1006, § 65;   Laws 1993, LB 583, § 113.  Cross References   Administrative Procedure Act, see section 84-920.  Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act, see section 44-4862.
NE Code § 44-5612 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5612 - Rules and regulations.

44-5612.  Rules and regulations.The director may adopt and promulgate rules and regulations to carry out the Reinsurance Intermediary Act.Source  Laws 1992, LB 1006, § 66.
NE Code § 44-5613 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5613 - Compliance with act; when.

44-5613.  Compliance with act; when.No insurer or reinsurer may continue to utilize the services of a reinsurance intermediary on and after January 1, 1993, unless utilization is in compliance with the Reinsurance Intermediary Act.Source  Laws 1992, LB 1006, § 67.
NE Code § 44-5701 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5701 - Act, how cited.

44-5701.  Act, how cited.Sections 44-5701 to 44-5708 shall be known and may be cited as the Producer-Controlled Property and Casualty Insurer Act.Source  Laws 1992, LB 1006, § 68.
NE Code § 44-5702 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5702 - Terms, defined.

44-5702.  Terms, defined.For purposes of the Producer-Controlled Property and Casualty Insurer Act:(1) Accredited state shall mean a state in which the insurance department or regulatory agency has qualified as meeting the minimum financial regulatory standards established and promulgated from time to time by the National Association of Insurance Commissioners;(2) Captive insurers shall mean insurance companies owned by another organization the exclusive purpose of which is to insure risks of the parent organization and affiliated companies or, in the case of groups and associations, insurance organizations owned by the insureds the exclusive purpose of which is to insure risks to member organizations or group members and their affiliates;(3) Control or controlled shall have the same meaning as in section 44-2121;(4) Controlled insurer shall mean an insurer which is controlled, directly or indirectly, by a producer;(5) Controlling producer shall mean a producer which, directly or indirectly, controls an insurer;(6) Director shall mean the Director of Insurance;(7) Insurer shall mean any person, firm, association, or corporation holding a certificate of authority to transact property and casualty insurance business in this state. Insurer shall not include:(a) Residual market pools and joint underwriting authorities or associations; and(b) Captive insurers other than risk retention groups as defined in 15 U.S.C. 3901 et seq. and 42 U.S.C. 9671, as such sections existed on January 1, 2014; and(8) Producer shall mean an insurance broker or any other person, firm, association, or corporation when, for any compensation, commission, or other thing of value, such person, firm, association, or corporation acts or aids in any manner in soliciting, negotiating, or procuring the making of any insurance contract on behalf of an insured other than the person, firm, association, or corporation.Source   Laws 1992, LB 1006, § 69;  Laws 2014, LB700, § 17.
NE Code § 44-5703 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5703 - Applicability of act.

44-5703.  Applicability of act.The Producer-Controlled Property and Casualty Insurer Act shall apply to insurers either domiciled in this state or domiciled in a state that is not an accredited state. All provisions of the Insurance Holding Company System Act, to the extent they are not superseded by the Producer-Controlled Property and Casualty Insurer Act, shall continue to apply to all parties within holding company systems subject to the Producer-Controlled Property and Casualty Insurer Act.Source  Laws 1992, LB 1006, § 70. Cross References  Insurance Holding Company System Act, see section 44-2120.
NE Code § 44-5705 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5705 - Notice to prospective insured; exception.

44-5705.  Notice to prospective insured; exception.The controlling producer, prior to the effective date of the policy, shall deliver written notice to the prospective insured disclosing the relationship between the controlling producer and the controlled insurer, except that if the business is placed through a subproducer who is not a controlling producer, the controlling producer shall retain in his or her records a signed commitment from the subproducer that the subproducer is aware of the relationship between the controlled insurer and the controlling producer and that the subproducer has or will notify the insured.Source  Laws 1992, LB 1006, § 72.
NE Code § 44-5706 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5706 - Enforcement of act; powers and duties; construction of section.

44-5706.  Enforcement of act; powers and duties; construction of section.(1) If the director believes that the controlling producer or any other person has not materially complied with the Producer-Controlled Property and Casualty Insurer Act or any rule or regulation or order after notice and opportunity to be heard, the director may order the controlling producer to cease placing business with the controlled insurer. If it is found that because of such material noncompliance that the controlled insurer or any policyholder has suffered any loss or damage, the director may maintain a civil action or intervene in an action brought by or on behalf of the controlled insurer or policyholder for recovery of compensatory damages for the benefit of the controlled insurer or policyholder or other appropriate relief.(2) If an order for liquidation or rehabilitation of the controlled insurer has been entered pursuant to the Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act and the receiver appointed under the order believes that the controlling producer or any other person has not materially complied with the Producer-Controlled Property and Casualty Insurer Act or any rule or regulation or order and the controlled insurer suffered any loss or damage therefrom, the receiver may maintain a civil action for recovery of damages or other appropriate sanctions for the benefit of the controlled insurer.(3) This section shall not affect the right of the director to impose any other penalties provided for in Chapter 44.(4) This section is not intended to and shall not in any manner alter or affect the rights of policyholders, claimants, creditors, or other third parties.Source  Laws 1992, LB 1006, § 73. Cross References  Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act, see section 44-4862.
NE Code § 44-5707 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5707 - Rules and regulations.

44-5707.  Rules and regulations.The director may adopt and promulgate rules and regulations to carry out the Producer-Controlled Property and Casualty Insurer Act.Source  Laws 1992, LB 1006, § 74.
NE Code § 44-5708 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5708 - Controlled insurers and controlling producers; compliance with act; when.

44-5708.  Controlled insurers and controlling producers; compliance with act; when.Controlled insurers and controlling producers who are not in compliance with section 44-5704 on January 1, 1993, shall have until March 1, 1993, to come into compliance and shall comply with section 44-5705 beginning with all policies written or renewed on or after March 1, 1993.Source  Laws 1992, LB 1006, § 75.
NE Code § 44-5801 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5801 - Act, how cited.

44-5801.  Act, how cited.Sections 44-5801 to 44-5816 shall be known and may be cited as the Third-Party Administrator Act.Source  Laws 1992, LB 1006, § 76.
NE Code § 44-5803 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5803 - Third-party administrator; written agreement; requirements; suspension during dispute.

44-5803.  Third-party administrator; written agreement; requirements; suspension during dispute.(1) No third-party administrator shall act as such without a written agreement between the third-party administrator and the insurer, and such written agreement shall be retained as part of the official records of both the insurer and the third-party administrator for the duration of the agreement and for five years thereafter. The agreement shall contain all provisions required by the Third-Party Administrator Act except insofar as those provisions do not apply to the functions performed by the third-party administrator.(2) The written agreement shall include a statement of duties which the third-party administrator is expected to perform on behalf of the insurer and the lines, classes, or types of insurance for which the third-party administrator is to be authorized to administer. The written agreement shall make provision with respect to underwriting or other standards pertaining to the insurance business underwritten by such insurer.(3) The insurer or third-party administrator may, with written notice, terminate the written agreement for cause as provided in the written agreement. The insurer may suspend the underwriting authority of the third-party administrator during the pendency of any dispute regarding the cause for termination of the written agreement. The insurer shall fulfill any lawful obligations with respect to policies affected by the written agreement, regardless of any dispute between the insurer and the third-party administrator.Source  Laws 1992, LB 1006, § 78.