reglab/housing_qa huggingface dataset:
NE Code § 44-4820 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4820 - Dissolution of insurer; court-ordered transfer of control and ownership.

44-4820.  Dissolution of insurer; court-ordered transfer of control and ownership.(1) The director may petition for an order dissolving the corporate existence of a domestic insurer or the United States branch of an alien insurer domiciled in this state at the time he or she applies for a liquidation order. The court shall order dissolution of the corporation upon petition by the director upon or after the granting of a liquidation order. If the dissolution has not previously been ordered and if control and ownership of the insurer has not been transferred pursuant to subsection (2) of this section, dissolution shall be effected by operation of law upon the discharge of the liquidator if the insurer is insolvent but may be ordered by the court upon the discharge of the liquidator if the insurer is under a liquidation order for some other reason.(2) Notwithstanding the entry of a liquidation order, on the motion of the liquidator and following such notice and hearing and on such terms as the court deems appropriate, the court may approve the liquidator's cancellation of all outstanding stock and other securities of, and other equity interests in, the insurer and the court may approve the issuance and sale of new stock or other securities for the purpose of transferring to one or more buyers control and ownership of the insurer together with any or all of its licenses and certificates to do business and such other assets as the liquidator deems appropriate to the transaction. The proceeds of such sale shall be assets of the liquidation estate of the insurer. The order of the court approving such a sale may provide that the sale is free and clear of all claims and interests of the insurer's insureds, creditors, shareholders, and members and all other persons interested in the insurer's estate and may discharge the insurer and all property which is the subject of the sale from all claims and interests of the insurer's insureds, creditors, shareholders, and members and all other persons interested in the insurer's estate, except that such a discharge shall not affect the rights of the insurer's insureds, creditors, shareholders, and members and all other persons interested in the insurer's estate to participate in distributions from the estate as otherwise provided in the Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act.Source   Laws 1989, LB 319, § 20;   Laws 1995, LB 616, § 1.
NE Code § 44-4823 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4823 - Duties of agents; violation; penalty.

44-4823.  Duties of agents; violation; penalty.(1) Every person who receives notice in the form prescribed in section 44-4822 that an insurer which he or she represents as an agent is the subject of a liquidation order shall, within fifteen days of such notice, give notice of the liquidation order. The notice shall be sent by first-class mail to the last address contained in the agent's records to each policyholder or other person named in any policy issued through the agent by the insurer if he or she has a record of the address of the policyholder or other person. A policy shall be deemed issued through an agent if the agent has a property interest in the expiration of the policy or if the agent has had in his or her possession a copy of the declarations of the policy at any time during the life of the policy except when the ownership of the expiration of the policy has been transferred to another. The written notice shall include the name and address of the insurer, the name and address of the agent, identification of the policy impaired, and the nature of the impairment, including termination of coverage as described in section 44-4819. Notice by a general agent satisfies the notice requirement for any agents under contract to him or her. Each agent obligated to give notice under this section shall file a report of compliance with the liquidator.(2) Any agent failing to give notice or file a report of compliance as required in subsection (1) of this section may be subject to payment of a civil penalty of not more than one thousand dollars and may have his or her license suspended. The penalty shall be imposed after a hearing held by the director.(3) The liquidator may waive the duties imposed by this section if he or she determines that other notice to the policyholders of the insurer under liquidation is adequate.Source  Laws 1989, LB 319, § 23.
NE Code § 44-4824 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4824 - Actions by and against liquidator.

44-4824.  Actions by and against liquidator.(1) Upon issuance of an order appointing a liquidator of a domestic insurer or of an alien insurer domiciled in this state, no action at law or equity or in arbitration shall be brought against the insurer or liquidator, whether in this state or elsewhere, nor shall any such existing actions be maintained or further presented after issuance of such order. The courts of this state shall give full faith and credit to injunctions against the liquidator or the company or the continuation of existing actions against the liquidator or the company when such injunctions are included in an order to liquidate an insurer issued pursuant to corresponding provisions in other states. Whenever, in the liquidator's judgment, protection of the estate of the insurer necessitates intervention in an action against the insurer that is pending outside this state, he or she may intervene in the action. The liquidator may defend any action in which he or she intervenes under this section at the expense of the estate of the insurer.(2) The liquidator may, upon or after an order for liquidation, within two years or such time in addition to two years as applicable law may permit, institute an action or proceeding on behalf of the estate of the insurer upon any cause of action against which the period of limitation fixed by applicable law has not expired at the time of the filing of the petition upon which such order is entered. In any agreement, when a period of limitation is fixed for instituting a suit or proceeding upon any claim or for filing any claim, proof of claim, proof of loss, demand, notice, or the like or in any proceeding, judicial or otherwise, when a period of limitation is fixed either in the proceeding or by applicable law for taking any action, filing any claim or pleading, or doing any act, and when in any such case the period had not expired at the date of the filing of the petition, the liquidator may, for the benefit of the estate, take any such action or do any such act required of or permitted to the insurer within a period of one hundred eighty days subsequent to the entry of an order for liquidation or within such further period as is shown to the satisfaction of the court not to be unfairly prejudicial to the other party.(3) No statute of limitations or defense of laches shall run with respect to any action against an insurer between the filing of a petition for liquidation against an insurer and the denial of the petition. Any action against the insurer that might have been commenced when the petition was filed may be commenced for at least sixty days after the petition is denied.(4) Any guaranty association or foreign guaranty association shall have standing to appear in any court proceeding concerning the liquidation of an insurer if such association is or may become liable to act as a result of the liquidation.Source   Laws 1989, LB 319, § 24;   Laws 1991, LB 236, § 77.
NE Code § 44-4825 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4825 - Collection and list of assets.

44-4825.  Collection and list of assets.(1) As soon as practicable after the liquidation order but not later than one hundred twenty days thereafter, the liquidator shall prepare in duplicate a list of the insurer's assets. The list shall be amended or supplemented from time to time as the liquidator may determine. One copy shall be filed in the office of the clerk of the district court of Lancaster County and one copy shall be retained for the liquidator's files. All amendments and supplements shall be similarly filed.(2) The liquidator shall reduce the assets to a degree of liquidity that is consistent with the effective execution of the liquidation.(3) The submission of an application to the court for disbursement of assets in accordance with section 44-4834 shall fulfill the requirements of subsection (1) of this section.Source  Laws 1989, LB 319, § 25.
NE Code § 44-4829 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4829 - Claims of holders of void or voidable rights.

44-4829.  Claims of holders of void or voidable rights.(1) No claims of a creditor who has received or acquired a preference, lien, conveyance, transfer, assignment, or encumbrance voidable under the Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act shall be allowed unless he or she surrenders the preference, lien, conveyance, transfer, assignment, or encumbrance. If the avoidance is effected by a proceeding in which a final judgment has been entered, the claim shall not be allowed unless the money is paid or the property is delivered to the liquidator within thirty days from the date of the entering of the final judgment, except that the court having jurisdiction over the liquidation may allow further time if there is an appeal or other continuation of the proceeding.(2) A claim allowable under subsection (1) of this section by reason of the avoidance, whether voluntary or involuntary, of a preference, lien, conveyance, transfer, assignment, or encumbrance may be filed as an excused late filing under section 44-4835 if filed within thirty days from the date of the avoidance or within the further time allowed by the court under subsection (1) of this section.Source  Laws 1989, LB 319, § 29.
NE Code § 44-4830 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4830 - Setoffs.

44-4830.  Setoffs.(1) Mutual debts or mutual credits whether arising out of one or more contracts between the insurer and another person in connection with any action or proceeding under the Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act shall be set off and the balance only shall be allowed or paid except as provided in subsections (2) and (3) of this section and in section 44-4833.(2) No setoff shall be allowed in favor of any person when:(a) The obligation of the insurer to the person would not at the date of the filing of a petition for rehabilitation or liquidation entitle the person to share as a claimant in the assets of the insurer;(b) The obligation of the insurer to the person was purchased by or transferred to the person with a view to its being used as a setoff;(c) The obligation of the insurer is owed to an affiliate of such person or any other entity or association other than the person;(d) The obligation of the person is owed to an affiliate of the insurer or any other entity or association other than the insurer;(e) The obligation of the person is to pay an assessment levied against the members or subscribers of the insurer, is to pay a balance upon a subscription to the capital stock of the insurer, or is in any other way in the nature of a capital contribution; or(f) The obligations between the person and the insurer arise out of transactions by which either the person or the insurer has assumed risks and obligations from the other party and then has ceded back to that party substantially the same risks and obligations. Notwithstanding the provisions of this subdivision, the rehabilitator or liquidator may permit setoffs if in his or her discretion a setoff is appropriate because of specific circumstances relating to a transaction.(3) The rehabilitator or liquidator shall provide persons with accounting statements identifying debts which are currently due and payable. When a person owes to the insurer amounts which are currently due and payable, against which the person asserts setoff of mutual credits which may become due and payable from the insurer in the future, the person shall promptly pay to the rehabilitator or liquidator the amounts currently due and payable, except that, notwithstanding section 44-4842, the rehabilitator or liquidator shall promptly and fully refund, to the extent of the person's prior payments, any mutual credits that become due and payable to the person by the insurer.(4) The provisions of subdivision (2)(f) and subsection (3) of this section shall apply to all contracts entered into, renewed, extended, or amended on or after October 1, 1995, and to debts or credits arising from any business written after such date pursuant to any such contract. For purposes of this subsection, any change in the terms of or consideration for any such contract shall be deemed an amendment of the contract.Source   Laws 1989, LB 319, § 30;   Laws 1991, LB 236, § 80;   Laws 1991, LB 237, § 71;   Laws 1995, LB 616, § 3.
NE Code § 44-4831 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4831 - Assessments.

44-4831.  Assessments.(1) As soon as practicable, but not more than two years from the date of an order of liquidation under section 44-4818 of an insurer issuing assessable policies, the liquidator shall make a report to the court setting forth:(a) The reasonable value of the assets of the insurer;(b) The insurer's probable total liabilities;(c) The probable aggregate amount of the assessment necessary to pay all claims of creditors and expenses in full, including expenses of administration and costs of collecting the assessment; and(d) A recommendation as to whether or not an assessment should be made and in what amount.(2)(a) Upon the basis of the report provided in subsection (1) of this section, including any supplements and amendments thereto, the district court of Lancaster County may levy one or more assessments against all members of the insurer who are subject to assessment.(b) Subject to any applicable legal limits on assessability, the aggregate assessment shall be for the amount that the sum of the probable liabilities, the expenses of administration, and the estimated cost of collection of the assessment, exceeds the value of existing assets, with due regard being given to assessments that cannot be collected economically.(3) After levy of assessment under subsection (2) of this section, the liquidator shall issue an order directing each member who has not paid the assessment pursuant to the order to show cause why the liquidator should not pursue a judgment therefor.(4) The liquidator shall give notice of the order to show cause by publication and by first-class mail to each member liable thereunder mailed to his or her last-known address as it appears on the insurer's records at least twenty days before the return day of the order to show cause.(5)(a) If a member does not appear and serve duly verified objections upon the liquidator on or before the return day of the order to show cause under subsection (3) of this section, the court shall make an order adjudging the member liable for the amount of the assessment against him or her pursuant to subsection (3) of this section, together with costs, and the liquidator shall have a judgment against the member therefor.(b) If on or before such return day the member appears and serves duly verified objections upon the liquidator, the director may hear and determine the matter or may appoint a referee to hear it and make such order as the facts warrant. In the event that the director determines that such objections do not warrant relief from assessment, the member may request the court to review the matter and vacate the order to show cause.(6) The liquidator may enforce any order or collect any judgment under subsection (5) of this section by any lawful means.Source  Laws 1989, LB 319, § 31.
NE Code § 44-4832 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4832 - Reinsurer's liability.

44-4832.  Reinsurer's liability.The amount recoverable by the liquidator from reinsurers shall not be reduced as a result of the delinquency proceedings, regardless of any provision in the reinsurance contract or other agreement. Payment made directly to an insured or other creditor shall not diminish the reinsurer's obligation to the insurer's estate except when the reinsurance contract provided for direct coverage of a named insured and the payment was made in discharge of that obligation.Source  Laws 1989, LB 319, § 32.
NE Code § 44-4833 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4833 - Recovery of premiums owed; violation; penalty; appeal.

44-4833.  Recovery of premiums owed; violation; penalty; appeal.(1)(a) An agent, broker, premium finance company, or any other person, other than the insured, responsible for the payment of a premium shall be obligated to pay any unpaid earned premium due the insurer at the time of the declaration of insolvency as shown on the records of the insurer. The liquidator shall also have the right to recover from such person any part of an unearned commission of such person. An agent, broker, premium finance company, or any other person, other than the insured, responsible for the payment of a premium shall not be obligated to pay the unpaid unearned premium due the insurer at the time of the declaration of insolvency as shown on the records of the insurer, and any such unearned premium in the possession of such agent, broker, premium finance company, or other person at such time shall be returned promptly by such agent, broker, premium finance company, or other person to the insured or other person from whom it was received. Credits or setoffs or both shall not be allowed to an agent, broker, or premium finance company for any amounts advanced to the insurer by the agent, broker, or premium finance company on behalf of, but in the absence of a payment by, the insured.(b) An insured shall be obligated to pay any unpaid earned premium due the insurer at the time of the declaration of insolvency as shown on the records of the insurer.(2) Upon satisfactory evidence of a violation of this section, the director may pursue either one or both of the following courses of action:(a) Suspend, revoke, or refuse to renew the licenses of such offending party or parties; or(b) Impose a civil penalty of not more than one thousand dollars for each and every act in violation of this section by the party or parties.(3) Before the director takes any action as set forth in subsection (2) of this section, he or she shall give written notice to the person, company, association, or exchange accused of violating the law, stating specifically the nature of the alleged violation and fixing a time and place, at least ten days thereafter, when a hearing on the matter shall be held. After such hearing or upon failure of the accused to appear at such hearing, the director, if he or she finds such violation, shall impose the penalties under subsection (2) of this section as he or she deems advisable.(4) When the director takes action in any or all of the ways set out in subsection (2) of this section, the party aggrieved may appeal from the action to the district court of Lancaster County.Source  Laws 1989, LB 319, § 33.
NE Code § 44-4835 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4835 - Filing of claims.

44-4835.  Filing of claims.(1) Proof of all claims shall be filed with the liquidator in the form required by section 44-4836 on or before the last day for filing specified in the notice required under section 44-4822, except that proof of claims for cash surrender values or other investment values in life insurance and annuities need not be filed unless the liquidator expressly so requires.(2) The liquidator may permit a claimant making a late filing to share in distributions, whether past or future, as if he or she were not late, to the extent that any such payment will not prejudice the orderly administration of the liquidation, under the following circumstances:(a) The existence of the claim was not known to the claimant and he or she filed his or her claim as promptly thereafter as reasonably possible after learning of it;(b) A transfer to a creditor was avoided under sections 44-4826 to 44-4828 or was voluntarily surrendered under section 44-4829 and the filing satisfies the conditions of such section; or(c) The valuation under section 44-4841 of security held by a secured creditor shows a deficiency, which is filed within thirty days after the valuation.(3) The liquidator shall permit late filing claims to share in distributions, whether past or future, as if they were not late if such claims are claims of a guaranty association or foreign guaranty association for reimbursement of covered claims paid or expenses incurred, or both, subsequent to the last day for filing when such payments were made and expenses incurred as provided by law.(4) The liquidator may consider any claim filed late which is not covered by subsection (2) of this section and permit it to receive distributions which are subsequently declared on any claims of the same or lower priority if the payment does not prejudice the orderly administration of the liquidation. The late-filing claimant shall receive at each distribution the same percentage of the amount allowed on his or her claim as is then being paid to claimants of any lower priority. This shall continue until his or her claim has been paid in full.Source  Laws 1989, LB 319, § 35.
NE Code § 44-4836 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-4836 - Proof of claim.

44-4836.  Proof of claim.(1) Proof of claim shall consist of a statement signed by the claimant that includes all of the following that are applicable:(a) The particulars of the claim, including the consideration given for it;(b) The identity and amount of the security on the claim;(c) The payments made on the debt, if any;(d) That the sum claimed is justly owing and that there is no setoff, counterclaim, or defense to the claim;(e) Any right of priority of payment or other specific right asserted by the claimants;(f) A copy of the written instrument which is the foundation of the claim; and(g) The name and address of the claimant and the attorney who represents him or her, if any.(2) No claim need be considered or allowed if it does not contain all the information in subsection (1) of this section which may be applicable. The liquidator may require that a prescribed form be used and may require that other information and documents be included.(3) At any time the liquidator may request the claimant to present information or evidence supplementary to that required under subsection (1) of this section and may take testimony under oath or affirmation, require production of affidavits or depositions, or otherwise obtain additional information or evidence.(4) No judgment or order against an insured or the insurer entered after the date of filing of a successful petition for liquidation and no judgment or order against an insured or the insurer entered at any time by default or by collusion need be considered as evidence of liability or of quantum of damages. No judgment or order against an insured or the insurer entered within four months before the filing of the petition need be considered as evidence of liability or of the quantum of damages.(5) All claims of a guaranty association or foreign guaranty association shall be in such form and contain such substantiation as may be agreed to by the association and the liquidator.Source  Laws 1989, LB 319, § 36.