reglab/housing_qa huggingface dataset:
NE Code § 44-2147 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2147 - False reporting; criminal penalty.

44-2147.  False reporting; criminal penalty.Any officer, director, or employee of an insurance holding company system who willfully and knowingly subscribes to or makes or causes to be made any false statements, false reports, or false filings with the intent to deceive the director in the performance of his or her duties under the Insurance Holding Company System Act shall be guilty of a Class IV felony.Source  Laws 1991, LB 236, § 27.
NE Code § 44-2147.01 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2147.01 - Violations; effect.

44-2147.01.  Violations; effect.If it appears to the director that any person has committed a violation of sections 44-2126 to 44-2130 which prevents the full understanding of the enterprise risk to the insurer by affiliates or by the insurance holding company system, the violation may serve as an independent basis for disapproving dividends or distributions and for placing the insurer under an order of supervision in accordance with the Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act.Source Laws 2012, LB887, § 15.Cross References  Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act, see section 44-4862.
NE Code § 44-2148 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2148 - Insurer; supervision, rehabilitation, and liquidation.

44-2148.  Insurer; supervision, rehabilitation, and liquidation.If it appears to the director that any person has committed a violation of the Insurance Holding Company System Act which so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders, creditors, or shareholders or the public, the director may proceed as provided in the Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act to take possession of the property of such domestic insurer and to conduct the business thereof.Source  Laws 1991, LB 236, § 28. Cross References  Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act, see section 44-4862.
NE Code § 44-2149 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2149 - Recovery by receiver.

44-2149.  Recovery by receiver.(1) If an order for rehabilitation or liquidation of a domestic insurer has been entered, the receiver appointed under such order shall have a right to recover on behalf of the insurer (a) from any parent or holding company or person or affiliate who otherwise controlled the insurer, the amount of any distribution, other than distribution of shares of the same class of stock, paid by the insurer on its capital stock or (b) any payment in the form of a bonus, termination settlement, or extraordinary lump-sum salary adjustment made by the insurer or its subsidiary to a director, officer, or employee, when the distribution or payment pursuant to subdivision (a) or (b) of this subsection is made at any time during the one year preceding the filing of the petition for rehabilitation or liquidation subject to the limitations of subsections (2), (3), and (4) of this section.(2) No such distribution or payment shall be recoverable if the parent or affiliate shows that when paid such distribution or payment was lawful and reasonable and that the insurer did not know and could not reasonably have known that such distribution or payment might adversely affect the ability of the insurer to fulfill its contractual obligations.(3) Any person who was a parent or holding company or a person who otherwise controlled the insurer or affiliate at the time such distribution or payment was paid shall be liable up to the amount of distribution or payment under subsection (1) of this section such person received. Any person who otherwise controlled the insurer at the time such distribution or payment was declared shall be liable up to the amount of distribution or payment he would have received if it had been paid immediately. If two or more persons are liable with respect to the same distribution or payment, they shall be jointly and severally liable.(4) The maximum amount recoverable under subsection (3) of this section shall be the amount needed in excess of all other available assets of the impaired or insolvent insurer to pay the contractual obligations of the impaired or insolvent insurer and to reimburse any guaranty funds.(5) To the extent that any person liable under subsection (3) of this section is insolvent or otherwise fails to pay claims due from it pursuant to such subsection, its parent or holding company or the person who otherwise controlled it at the time the distribution or payment was paid shall be jointly and severally liable for any resulting deficiency in the amount recovered from such parent or holding company or person who otherwise controlled it.Source  Laws 1991, LB 236, § 29.
NE Code § 44-2150 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2150 - Suspension, revocation, or nonrenewal of license or authority.

44-2150.  Suspension, revocation, or nonrenewal of license or authority.If it appears to the director that any person has committed a violation of the Insurance Holding Company System Act which makes the continued operation of an insurer contrary to the interests of policyholders or the public, the director may, after giving notice and an opportunity to be heard, determine to suspend, revoke, or refuse to renew such insurer's license or authority to do business in this state for such period as the director finds is required for the protection of policyholders or the public. Any such determination shall be accompanied by specific findings of fact and conclusions of law.Source  Laws 1991, LB 236, § 30.
NE Code § 44-2151 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2151 - Appeal; writ of mandamus.

44-2151.  Appeal; writ of mandamus.Any person aggrieved by any act, determination, order, or other action of the director pursuant to the Insurance Holding Company System Act may appeal. The appeal shall be in accordance with the Administrative Procedure Act.Any person aggrieved by any failure of the director to act or make a determination required by the Insurance Holding Company System Act may petition the district court of Lancaster County for a writ in the nature of a mandamus or a peremptory mandamus directing the director to act or make such determination forthwith.Source  Laws 1991, LB 236, § 31. Cross References  Administrative Procedure Act, see section 84-920.
NE Code § 44-2152 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2152 - Inconsistent laws; superseded.

44-2152.  Inconsistent laws; superseded.All laws and parts of laws of this state inconsistent with the Insurance Holding Company System Act shall be superseded with respect to matters covered by the act.Source  Laws 1991, LB 236, § 32.
NE Code § 44-2153 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2153 - Act; cumulative.

44-2153.  Act; cumulative.The powers, remedies, procedures, and penalties provided in the Insurance Holding Company System Act shall be in addition to, and not in limitation of, any other powers, remedies, procedures, and penalties provided by law.Source  Laws 1991, LB 236, § 33. 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 § 44-2154 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2154 - International insurance group; criteria; determination by director.

44-2154.  International insurance group; criteria; determination by director.The director may determine whether or not an insurance holding company system is an international insurance group. An insurance holding company system shall be considered an international insurance group if the insurance holding company system includes an insurer registered under section 44-2132 and:(1) Meets the following criteria:(a) The insurance holding company system has premiums written in at least three countries;(b) The percentage of gross premiums written outside the United States is at least ten percent of the insurance holding company system's gross written premiums; and(c) Based on a three-year rolling average, the total assets of the insurance holding company system are at least fifty billion dollars or the total gross written premiums of the insurance holding company system are at least ten billion dollars; or(2) Does not meet the criteria in subdivision (1) of this section but is determined by the director to have significant international insurance business operations. Such a determination may be made anytime by the director or after a request by an insurance holding company system.Source Laws 2016, LB772, § 12.
NE Code § 44-2201 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2201 - Insurance corporation; variable annuities; issuance; certificate of authority; required; expiration.

44-2201.  Insurance corporation; variable annuities; issuance; certificate of authority; required; expiration.An insurance corporation may be formed for the purpose of issuing variable annuities. Variable annuities are policies issued on an individual or group basis by which an insurer promises to pay a variable sum of money either in a lump sum or periodically for life or for some other specified period. No company shall issue or offer to issue variable annuities in this state until it has received a certificate of authority from the Director of Insurance to do so. The certificate of authority shall expire on the last day of April each year and shall be renewed annually if the company has continued to comply with the laws of this state and the rules and regulations adopted and promulgated by the director and the director has not issued an order suspending, revoking, or refusing to renew the company's certificate of authority.Source   Laws 1969, c. 358, § 1, p. 1259;   Laws 1989, LB 92, § 192.
NE Code § 44-2202 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2202 - Insurance company; variable annuities; requirements.

44-2202.  Insurance company; variable annuities; requirements.Before a company may apply to issue variable annuities in this state, it must have an initial amount of capital and surplus, if a stock company, or an amount of surplus, if a mutual company, of at least two million dollars and shall maintain a surplus, if either a stock company or a mutual company, of at least one million five hundred thousand dollars. The Director of Insurance may make exceptions to this provision if he or she deems it in the public interest to do so. In addition to meeting the requirements of this section, a foreign company must be licensed to do a variable annuity or life insurance business in its state of domicile before it may apply to issue variable annuities in this state.Source   Laws 1969, c. 358, § 2, p. 1260;   Laws 1991, LB 237, § 64.
NE Code § 44-2203 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2203 - Qualifications to issue variable annuities.

44-2203.  Qualifications to issue variable annuities.A company, meeting the requirements of section 44-2202, that desires to make application to issue variable annuities in this state shall submit to the Director of Insurance:(1) A certified copy of its articles of incorporation;(2) A copy of its bylaws attested to by an officer of the applicant;(3) A certified copy of a resolution adopted by the board of directors establishing one or more separate accounts;(4) In the case of foreign companies, a copy of any management or service contract entered into between the company and a third party or between the separate account and a third party the terms of which contain provisions for the third party to provide services to the separate account or company;(5) A copy of the applicant's latest report of examination and annual statement;(6) A general description of the type of variable annuity business contemplated or in effect and as to variable annuities, commission schedules, a five-year sales and expense projection, a statement of reserving procedures, the kinds and types of investments to be made, and, in the case of foreign companies, a copy of the prospectus to be filed with the Securities and Exchange Commission, if applicable;(7) In the case of foreign companies, written permission by a duly authorized representative of any third party rendering services to the insurer or separate account, that all books and records maintained in connection with the offer and sale of the variable annuity contracts are open to inspection by the director;(8) In the case of foreign companies, the variable annuity laws and regulations of the company's home state, if requested by the director;(9) Biographical statements, financial and character reports concerning officers and directors of the insurance company, management company or separate account if the same is requested by the director;(10) A corporate certification that the applicant has the corporate authority to issue variable annuities;(11) In the case of foreign companies, certification by the insurance director of the applicant's state of domicile that the applicant has a current license to do a life insurance or variable annuity business in such state;(12) In the case of foreign companies, a copy of any sales material to be used in connection with the sale of variable annuities in this state, if requested by the director;(13) A copy of the variable annuity contract and application and, in the case of a group contract, the certificate evidencing variable benefits issued pursuant to a master group contract; and(14) The director may require any additional information that relates to the applicant's financial soundness, method of operation, trustworthiness or business reputation.Source  Laws 1969, c. 358, § 3, p. 1260.
NE Code § 44-2204 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2204 - Applicant, defined.

44-2204.  Applicant, defined.For purposes of sections 44-2201 to 44-2221, applicant shall be deemed to include all of the officers, directors, and shareholders.Source   Laws 1969, c. 358, § 4, p. 1262;   Laws 1989, LB 92, § 193.
NE Code § 44-2205 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2205 - Shareholder, defined.

44-2205.  Shareholder, defined.For purposes of sections 44-2201 to 44-2221, shareholder shall mean a person owning, directly or indirectly, whether through another person or a holding company, beneficial interest, including such interest of any member of his or her immediate family, of more than ten percent of the outstanding equity securities of the applicant.Source   Laws 1969, c. 358, § 5, p. 1262;   Laws 1989, LB 92, § 194.
NE Code § 44-2206 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2206 - Order denying application for authority to issue variable annuities; conditions.

44-2206.  Order denying application for authority to issue variable annuities; conditions.The Director of Insurance may issue an order denying the application for authority to issue variable annuities if:(1) The applicant has failed to comply with any prerequisite of law for the issuance of such license;(2) The applicant is insolvent or has failed to submit a satisfactory financial statement;(3) The applicant's condition or method of operation in connection with the issuance of variable annuities is such as to render its operation hazardous to the public, its shareholders, or other policyholders;(4) The applicant's previous conduct indicates that it is untrustworthy;(5) The applicant has attempted to obtain such license through willful misrepresentation or fraud;(6) The applicant has been denied a similar license in any other state; or(7) The applicant's license to conduct a similar business has been suspended or revoked in any other state.Source   Laws 1969, c. 358, § 6, p. 1262;   Laws 1989, LB 92, § 195.
NE Code § 44-2207 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2207 - Variable annuity contract; approval; requirements.

44-2207.  Variable annuity contract; approval; requirements.A variable annuity contract will not be approved by the Director of Insurance unless such contract indicates:(1) The procedure to be used by the company in establishing the dollar amount of variable benefits or other variable contractual payments or variable values to be paid to the contract holder; that such benefits or other contractual payments or values may decrease or increase in accordance with such procedure; and that an increase in variable benefits is not in any way guaranteed;(2) That in the event of default in the payment of any consideration beyond the period of grace allowed by the contract for the payment thereof, the company will make payment of the current value of the variable contract, commencing not later than the date contractual payments by the company were otherwise to have commenced in accordance with the contract;(3) The expense, mortality and investment factors to be used in computing the dollar amount of variable benefits or other contractual payments or values are stipulated and a guarantee that expense and mortality results shall not adversely affect such dollar amounts;(4) In an individual variable annuity contract sold in correlation with a life insurance policy or fixed annuity contract, there is a disclosure that shows the consideration paid for the variable annuity contract separately from all other charges and shows the value of such life insurance policy or fixed annuity separately from any other values; and(5) In individual annuity contracts which provide for both fixed and variable dollar benefits, which are specified at the time of the sale of such contracts, there is indicated, separately, the consideration to be paid for the fixed dollar benefits and for the variable dollar benefits.Source  Laws 1969, c. 358, § 7, p. 1262.
NE Code § 44-2208 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2208 - Illustrations of benefits payable under variable annuity contracts; conditions.

44-2208.  Illustrations of benefits payable under variable annuity contracts; conditions.Illustrations of benefits payable under any variable annuity contract shall not involve projections of past investment experience into the future, nor shall they attempt predictions of future investment experience.Source  Laws 1969, c. 358, § 8, p. 1263.
NE Code § 44-2209 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2209 - Variable annuity contract; disapproval; when.

44-2209.  Variable annuity contract; disapproval; when.The Director of Insurance may disapprove any variable annuity contract, application or certificate issued pursuant to a group contract if it contains provisions which are contrary to law, unjust, unfair, inequitable, ambiguous or misleading, or which are likely to result in misrepresentation; or if the sales of such contracts are being solicited by any means of advertising, communication, or dissemination of information which involves misleading or inadequate descriptions of the provisions of the contract.Source  Laws 1969, c. 358, § 9, p. 1263.
NE Code § 44-2210 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2210 - Insurance company; accounting; statement; contents.

44-2210.  Insurance company; accounting; statement; contents.Every company licensed to sell variable annuities in this state must file with the Director of Insurance, on or before March 1 of each year, a statement under oath for the year ending December 31, immediately preceding, for the business of its separate accounts. Such statement shall be in a form as prescribed by the director and shall include as a minimum details as to all of the income, disbursements, assets and liability items associated with the separate accounts. The director shall not issue any license to any company, either domestic or foreign, until such company has complied with the provisions of this section. For good and sufficient cause shown, the director may grant a reasonable extension of time within which such statement may be filed, in no event to exceed thirty days.Source  Laws 1969, c. 358, § 10, p. 1264.
NE Code § 44-2211 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2211 - Insurance company; reserve liability; requirements.

44-2211.  Insurance company; reserve liability; requirements.The reserve liability for variable annuities shall be established pursuant to the requirements of the standard valuation law in accordance with actuarial procedures that recognize the variable nature of the benefits provided. To the extent that the company's reserve liability with regard to (1) benefits guaranteed as to dollar amount and duration, and (2) funds guaranteed as to principal amount or stated rate of interest is maintained in any separate account, a portion of the assets of such separate account at least equal to such reserve liability shall be, except as the Director of Insurance may otherwise approve, invested in accordance with the laws of this state governing the investments of life insurance companies.Source  Laws 1969, c. 358, § 11, p. 1264.
NE Code § 44-2212 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2212 - Separate investment account.

44-2212.  Separate investment account.A separate investment account shall not be chargeable with any liabilities arising out of any other separate investment account or any other business of the company which has no specific and determinable relation to or dependence upon such separate account. Any surplus or deficit which may arise in any separate account by virtue of mortality experience guaranteed by the company or by expense costs shall be adjusted by withdrawals from or additions to such separate account so that the assets of such account shall equal the liabilities.Source  Laws 1969, c. 358, § 12, p. 1264.
NE Code § 44-2213 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2213 - Sales, transfers, exchange of investments; requirements.

44-2213.  Sales, transfers, exchange of investments; requirements.Any sales, transfers, or exchange of investments made by a domestic company between any of the separate accounts or between any other investment account of the company and one or more of the separate accounts shall be in accordance with section 44-402.03, and the provisions or lack of provisions concerning transfers of investments in the laws of foreign companies shall be taken into consideration in admission of a foreign company.Source   Laws 1969, c. 358, § 13, p. 1265;   Laws 1991, LB 237, § 65.
NE Code § 44-2214 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-2214 - Separate account; accounting not reflected; when.

44-2214.  Separate account; accounting not reflected; when.When annuity benefit payments have commenced and the amount of the annuity payments are not dependent upon investment experience then the accounting for the annuity cannot be reflected in or be a part of the separate account.Source  Laws 1969, c. 358, § 14, p. 1265.