reglab/housing_qa huggingface dataset:
NE Code § 44-408 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-408 - Life insurance companies; ascertainment of condition; assets and liabilities; what considered.

44-408.  Life insurance companies; ascertainment of condition; assets and liabilities; what considered.In ascertaining the condition of any life insurance company, it shall be allowed as assets only such investments, cash, and accounts as are authorized by the laws of this state or of the state or country in which it is organized at the date of examination. There shall be charged against it as liabilities in addition to the capital stock, all outstanding indebtedness of the company, and the premium reserve on policies and additions thereto in force, computed according to the tables of mortality and rate of interest prescribed in sections 44-402.01 to 44-407.09.Source   Laws 1913, c. 154, § 95, p. 439;   R.S.1913, § 3232;   Laws 1919, c. 190, tit. V, art. VI, § 3, p. 619;   C.S.1922, § 7831;   C.S.1929, § 44-503;   R.S.1943, § 44-408;   Laws 1965, c. 262, § 11, p. 742;  Laws 2014, LB755, § 17.
NE Code § 44-409 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-409 - Domestic sickness and accident insurance companies; assets and liabilities.

44-409.  Domestic sickness and accident insurance companies; assets and liabilities.In ascertaining the condition of a domestic sickness and accident insurance company, it shall be allowed as assets only such investments, cash, and accounts as are authorized by the laws of this state at the date of the examination. In ascertaining its liabilities, there shall be charged, in addition to the capital stock and all outstanding claims, a sum equal to the total unearned premium on the policies in force, after deducting credit for reinsurance authorized by sections 44-416.05 to 44-416.10, calculated on the gross sum without any deductions on any account, charged to the policyholder on each respective risk from the date of the issuance of the policy.Source   Laws 1913, c. 154, § 96, p. 439;   R.S.1913, § 3233;   Laws 1919, c. 190, tit. V, art. VI, § 4, p. 619;   C.S.1922, § 7832;   C.S.1929, § 44-504;   R.S.1943, § 44-409;   Laws 1949, c. 149, § 1, p. 375;   Laws 1965, c. 263, § 1, p. 747;   Laws 1981, LB 330, § 2;   Laws 1985, LB 299, § 8;  Laws 2000, LB 930, § 3;  Laws 2005, LB 119, § 7.  Annotations A mutual insurance company is required to provide reserve fund. Western Life & Accident Co. v. State Ins. Board, 101 Neb. 152, 162 N.W. 530 (1917).
NE Code § 44-413.01 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-413.01 - Transferred to section 44-1949.

44-413.01.  Transferred to section 44-1949.
NE Code § 44-414 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-414 - All other insurance companies; assets and liabilities.

44-414.  All other insurance companies; assets and liabilities.In ascertaining the assets, liabilities and financial condition of all other insurance companies, not otherwise provided for in sections 44-401 to 44-415, the Department of Insurance shall allow as assets only such investments, cash and accounts, as are authorized by the existing laws of this state, or under the existing laws of the state or country under which such company is organized, and which investments it may approve or reject at the date of the investigation. In estimating the liabilities there shall be added, in addition to the capital stock, all outstanding claims, and a sum equal to the unearned premiums on the policies in force, calculated on the gross sum without any deductions on any account, charged to the policyholder on each respective risk from the date of the issuance of the policy. If the department finds this rule to be impracticable in ascertaining the condition of the certain kinds of insurance companies, it shall formulate such rules as it shall deem proper and efficient and consistent with law, having due regard to such rules as may be used in other states or approved by the National Association of Insurance Commissioners; Provided, in relation to the affairs of any foreign company, it may, in lieu of such examination and investigation, accept a certificate of the insurance commissioner or superintendent of such state or district as to its condition.Source   Laws 1913, c. 154, § 98, p. 443;   R.S.1913, § 3235;   Laws 1919, c. 190, tit. V, art. VI, § 6, p. 624;   C.S.1922, § 7834;   C.S.1929, § 44-506;   R.S.1943, § 44-414;   Laws 1981, LB 330, § 3.  Annotations A mutual insurance company is required to provide reserve fund. Western Life & Accident Co. v. State Ins. Board, 101 Neb. 152, 162 N.W. 530 (1917).
NE Code § 44-415 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-415 - Life insurance company; actual premium less than net premium; separate liability of company.

44-415.  Life insurance company; actual premium less than net premium; separate liability of company.When the actual premium hereafter charged for an insurance by any life insurance company doing business in this state is less than the net premium for such insurance, computed according to the table of mortality and rate of interest prescribed in section 44-403, such company shall be charged as a separate liability with the value of an annuity, the amount of which shall equal the difference between such premium and the term of which, in years, shall equal the number of future annual payments due on such insurance at the date of the valuation. This section shall apply to policies and contracts issued prior to the operative date defined in section 44-407.07.Source   Laws 1913, c. 154, § 99, p. 444;   R.S.1913, § 3236;   Laws 1919, c. 190, tit. V, art. VI, § 7, p. 625;   C.S.1922, § 7835;   C.S.1929, § 44-507;   Laws 1943, c. 106, § 2, p. 358;   R.S.1943, § 44-415.
NE Code § 44-416.05 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-416.05 - Reinsurance agreements; purpose of sections.

44-416.05.  Reinsurance agreements; purpose of sections.The purpose of sections 44-416.05 to 44-416.10 is to protect the interest of insureds, claimants, ceding insurers, assuming insurers, and the public generally. The Legislature hereby declares its intent is to ensure adequate regulation of insurers and reinsurers and adequate protection for those to whom they owe obligations. In furtherance of that state interest, the Legislature hereby provides a mandate that upon the insolvency of a non-United-States insurer or reinsurer that provides security to fund its United States obligations in accordance with such sections, the assets representing the security shall be maintained in the United States and claims shall be filed with and valued by the state insurance commissioner with regulatory oversight, and the assets shall be distributed, in accordance with the insurance laws of the state in which the trust is domiciled that are applicable to the liquidation of domestic United States insurance companies. The Legislature declares that the matters contained in such sections are fundamental to the business of insurance in accordance with 15 U.S.C. 1011 and 1012.Source Laws 2005, LB 119, § 30.
NE Code § 44-416.07 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-416.07 - Asset or reduction from liability for reinsurance; limitations; security required.

44-416.07.  Asset or reduction from liability for reinsurance; limitations; security required.An asset or a reduction from liability for the reinsurance ceded by a domestic insurer to an assuming insurer not meeting the requirements of section 44-416.06 shall be allowed in an amount not exceeding the liabilities carried by the ceding insurer subject to any additional requirements contained in rules and regulations adopted and promulgated by the Director of Insurance pursuant to subsection (2) of section 44-416.09 relating to or setting forth the valuation of assets or reserve credits, the amount and form of security supporting reinsurance arrangements, or the circumstances pursuant to which credit will be reduced or eliminated. The reduction shall be in the amount of funds held by or on behalf of the ceding insurer, including funds held in trust for the ceding insurer, under a reinsurance contract with the assuming insurer as security for the payment of obligations thereunder, if the security is held in the United States subject to withdrawal solely by, and under the exclusive control of, the ceding insurer, or, in the case of a trust, held in a qualified United States financial institution. This security may be in the form of:(1) Cash;(2) Securities approved by the Director of Insurance. The director may use the list of securities furnished by the Securities Valuation Office of the National Association of Insurance Commissioners, including those deemed exempt from filing as defined by the Purposes and Procedures Manual of the Securities Valuation Office, and qualifying as admitted assets;(3)(a) Clean, irrevocable, unconditional letters of credit, issued or confirmed by a qualified United States financial institution effective no later than December 31 of the year for which the filing is being made, and in the possession of, or in trust for, the ceding insurer on or before the filing date of its annual statement; or(b) Letters of credit meeting applicable standards of issuer acceptability as of the dates of their issuance or confirmation shall, notwithstanding the issuing or confirming institution's subsequent failure to meet applicable standards of issuer acceptability, continue to be acceptable as security until their expiration, extension, renewal, modification, or amendment, whichever first occurs; or(4) Any other form of security acceptable to the director.Source  Laws 2005, LB 119, § 32;  Laws 2015, LB298, § 2;  Laws 2018, LB815, § 2.
NE Code § 44-416.08 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-416.08 - Qualified United States financial institution, defined.

44-416.08.  Qualified United States financial institution, defined.(1) For purposes of subdivision (3) of section 44-416.07, qualified United States financial institution means an institution that:(a) Is organized or, in the case of a United States office of a foreign banking organization, licensed under the laws of the United States or any state thereof;(b) Is regulated, supervised, and examined by United States federal or state authorities having regulatory authority over banks and trust companies; and(c) Has been determined by either the Director of Insurance or the Securities Valuation Office of the National Association of Insurance Commissioners to meet such standards of financial condition and standing as are considered necessary and appropriate to regulate the quality of financial institutions whose letters of credit will be acceptable to the director.(2) For purposes of those provisions of sections 44-416.05 to 44-416.10 specifying those institutions that are eligible to act as a fiduciary of a trust, qualified United States financial institution means an institution that:(a) Is organized or, in the case of a United States branch or agency office of a foreign banking organization, licensed under the laws of the United States or any state thereof and has been granted authority to operate with fiduciary powers; and(b) Is regulated, supervised, and examined by federal or state authorities having regulatory authority over banks and trust companies.Source Laws 2005, LB 119, § 33.
NE Code § 44-416.09 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-416.09 - Rules and regulations.

44-416.09.  Rules and regulations.(1) The director may adopt and promulgate rules and regulations to carry out sections 44-416.05 to 44-416.10.(2)(a) The director may also adopt and promulgate rules and regulations applicable only to reinsurance arrangements described in subdivision (b) of this subsection.(b) Any rule or regulation adopted and promulgated pursuant to this subsection shall only apply to reinsurance relating to:(i) Life insurance policies with guaranteed nonlevel gross premiums or guaranteed nonlevel benefits;(ii) Universal life insurance policies with provisions resulting in the ability of a policyholder to keep a policy in force over a secondary guarantee period;(iii) Variable annuities with guaranteed death or living benefits;(iv) Long-term care insurance policies; or(v) Such other life and health insurance and annuity products as determined by the director.(c) Any rule or regulation adopted and promulgated pursuant to subdivision (b)(i) or (b)(ii) of this subsection may apply to any treaty containing (i) policies issued prior to January 1, 2015, if risk pertaining to such policies is ceded in connection with the treaty, in whole or in part, on or after January 1, 2015, or (ii) policies issued on or after January 1, 2015.(d) Any rule or regulation adopted and promulgated pursuant to this subsection may require the ceding insurer, in calculating the amounts or forms of security required to be held, to use the valuation manual prescribed by the director pursuant to section 44-8908.(e) Any rule or regulation adopted and promulgated pursuant to this subsection shall not apply to a cession to an assuming insurer that:(i) Meets the conditions set forth in subsection (7) of section 44-416.06;(ii) Is a certified reinsurer in this state pursuant to subdivision (6)(a) of section 44-416.06; or(iii) Maintains at least two hundred fifty million dollars in capital and surplus when determined in accordance with accounting practices and procedures manuals as prescribed by the director in substantial conformity with the Accounting Practices and Procedures Manual adopted by the National Association of Insurance Commissioners and is determined by the director to be:(A) Licensed to transact insurance or reinsurance in at least twenty-six states; or(B) Licensed to transact insurance or reinsurance in at least ten states and either licensed to transact insurance or is an accredited reinsurer in a total of at least thirty-five states.(f) The authority to adopt and promulgate rules and regulations pursuant to this subsection does not limit the director's general authority to adopt rules and regulations pursuant to subsection (1) of this section.Source  Laws 2005, LB 119, § 34;  Laws 2018, LB815, § 3;  Laws 2020, LB774, § 2.
NE Code § 44-416.10 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-416.10 - Applicability of sections.

44-416.10.  Applicability of sections.Sections 44-416.05 to 44-416.10 apply to all cessions after September 4, 2005, under reinsurance agreements that have an inception, anniversary, or renewal date not less than six months after September 4, 2005.Source Laws 2005, LB 119, § 35.
NE Code § 44-417 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-417 - Credit for reinsurance; conditions.

44-417.  Credit for reinsurance; conditions.No credits specified in sections 44-416.05 to 44-416.10 shall be made or allowed as an admitted asset or deduction from liability to any ceding insurer for reinsurance unless the contract of reinsurance provides in substance that, in the event of the insolvency of the ceding insurer, the portion of any risk or obligation assumed by the reinsurer, when such portion is ascertained, shall be payable by the assuming insurer on the basis of the liability of the ceding insurer under the contract or contracts reinsured without diminution because of the insolvency of the ceding insurer. Such payments shall be made directly to the ceding insurer or to its domiciliary liquidator except (1) when the contract or other written agreement specifically provides another payee of such reinsurance in the event of the insolvency of the ceding insurer or (2) when the assuming insurer, with the consent of the direct insured, has assumed such policy obligations of the ceding insurer as direct obligations of the assuming insurer to the payees under such policies and in substitution for the obligations of the ceding insurer to such payees. The reinsurance agreement may provide that the domiciliary liquidator, receiver, or legal successor of an insolvent ceding insurer shall give written notice of the pendency of a claim against the insolvent ceding insurer on the policy or bond reinsured, within a reasonable time after such claim is filed in the insolvency proceeding, and that during the pendency of such claim, any assuming insurer may investigate such claim and interpose, at its own expense, in the proceeding in which such claim is to be adjudicated, any defense or defenses which it may deem available to the ceding insurer or its liquidator, receiver, or legal successor. The expense thus incurred by the assuming insurer may be filed as a claim against the insolvent ceding insurer as part of the expense of liquidation, to the extent of a proportionate share of the benefit which may accrue to the ceding insurer solely as a result of the defense undertaken by the assuming insurer.When two or more assuming insurers are involved in the same claim and a majority in interest elect to interpose a defense to such claim, the expense shall be apportioned subject to court approval, in accordance with the terms of the reinsurance agreement as though such expense had been incurred by the ceding insurer.Source   Laws 1951, c. 131, § 2, p. 552;   Laws 1985, LB 299, § 9;   Laws 1991, LB 236, § 43;  Laws 2001, LB 360, § 1;  Laws 2005, LB 119, § 8.
NE Code § 44-420 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-420 - Actuarial opinions; terms, defined.

44-420.  Actuarial opinions; terms, defined.For purposes of sections 44-420 to 44-427:(1) Director shall mean the Director of Insurance; and(2) Qualified actuary shall mean an individual who is a member in good standing of the American Academy of Actuaries and who meets all requirements as determined by the director by rule or regulation.Source  Laws 1994, LB 978, § 7.
NE Code § 44-421 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-421 - Actuarial opinions; life insurance company; annual submission.

44-421.  Actuarial opinions; life insurance company; annual submission.Every life insurance company doing business in this state shall annually submit the opinion of a qualified actuary as to whether the reserves and related actuarial items held in support of the policies and contracts specified by the director are computed appropriately, are based on assumptions which satisfy contractual provisions, are consistent with prior reported amounts, and comply with applicable laws of this state.Source  Laws 1994, LB 978, § 8.
NE Code § 44-422 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-422 - Actuarial opinions; life insurance company; additional requirements.

44-422.  Actuarial opinions; life insurance company; additional requirements.Every life insurance company, except as exempted by the director by rule or regulation, shall also annually include in the opinion required by section 44-421 an opinion of the same qualified actuary as to whether the reserves and related actuarial items held in support of the policies and contracts specified by the director, when considered in light of the assets held by the company with respect to the reserves and related actuarial items, including the investment earnings on the assets and the considerations anticipated to be received and retained under the policies and contracts, make adequate provision for the company's obligations under the policies and contracts, including the benefits under and expenses associated with the policies and contracts.Source  Laws 1994, LB 978, § 9.
NE Code § 44-423 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-423 - Actuarial opinions; transition period authorized.

44-423.  Actuarial opinions; transition period authorized.The director may provide for a transition period for establishing any higher reserves which the qualified actuary may deem necessary in order to render the opinion required by section 44-421.Source  Laws 1994, LB 978, § 10.
NE Code § 44-424 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-424 - Actuarial opinions; requirements.

44-424.  Actuarial opinions; requirements.Every opinion required by section 44-421 shall be governed by the following provisions:(1) The opinion shall be submitted with the annual statement reflecting the valuation of such reserve liabilities for each year ending on or after December 31, 1994;(2) The opinion shall apply to all business in force including individual and group sickness and accident insurance plans, in form and substance acceptable to the director;(3) The opinion shall be based on standards adopted from time to time by the Actuarial Standards Board and on such additional standards as the director may prescribe;(4) In the case of an opinion required to be submitted by a foreign or alien company, the director may accept the opinion filed by that company with the insurance supervisory official of another state if the director determines that the opinion reasonably meets the requirements applicable to a domestic company; and(5) Except in cases of fraud or willful misconduct, the qualified actuary shall not be liable for damages to any person, other than the insurance company and the director, for any act, error, omission, decision, or conduct with respect to the actuary's opinion.Source  Laws 1994, LB 978, § 11.
NE Code § 44-426 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-426 - Actuarial opinions; valuation of sickness and accident policies.

44-426.  Actuarial opinions; valuation of sickness and accident policies.The director may adopt and promulgate rules and regulations containing the minimum standards applicable to the valuation of sickness and accident policies.Source  Laws 1994, LB 978, § 13.
NE Code § 44-427 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-427 - Actuarial opinions; rules and regulations.

44-427.  Actuarial opinions; rules and regulations.The director may adopt and promulgate rules and regulations to carry out the provisions of sections 44-420 to 44-427.Source  Laws 1994, LB 978, § 14.
NE Code § 44-501.01 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-501.01 - Fire insurance policies; statement as to coverage of loss by nuclear reaction, nuclear radiation, or radioactive contamination.

44-501.01.  Fire insurance policies; statement as to coverage of loss by nuclear reaction, nuclear radiation, or radioactive contamination.Insurers issuing the standard policy pursuant to section 44-501 are hereby authorized to affix thereto or include therein, subject to the approval of the Director of Insurance, a written statement that the policy does not cover loss or damage caused by nuclear reaction, nuclear radiation or radioactive contamination, all whether directly or indirectly resulting from an insured peril under said policy; Provided, that nothing herein contained shall be construed to prohibit the attachment to any such policy of an endorsement or endorsements specifically assuming coverage for loss or damage caused by nuclear reaction or nuclear radiation or radioactive contamination.Source  Laws 1959, c. 208, § 1, p. 727.
NE Code § 44-502.01 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-502.01 - Policy loans; variable interest rates.

44-502.01.  Policy loans; variable interest rates.The purpose of sections 44-502.01 to 44-502.04 is to permit and set guidelines for life insurers to include in life insurance policies issued after August 30, 1981, a provision for periodic adjustment of policy loan interest rates.Source  Laws 1981, LB 355, § 14.
NE Code § 44-502.02 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-502.02 - Policy loans; published monthly average, defined.

44-502.02.  Policy loans; published monthly average, defined.For purposes of sections 44-502.01 to 44-502.04, published monthly average shall mean a monthly bond yield average which is:(1) Published by a national financial statistical organization;(2) Recognized by the National Association of Insurance Commissioners;(3) In current general use in the insurance industry; and(4) Designated by the Director of Insurance.Source  Laws 1981, LB 355, § 15.