reglab/housing_qa huggingface dataset:
NE Code § 44-212 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-212 - Insurance companies; officers; elections; terms; salaries.

44-212.  Insurance companies; officers; elections; terms; salaries.The directors of every stock company and the board of directors or members of every mutual company or assessment association may elect such officers as are necessary to conduct the business of the company, including a president, secretary, and treasurer, and employ such other officers and employees as may be required to carry on the business of the company and may fix their terms of office or employment and their salaries and compensation, but such action shall not be in conflict with the provisions of law relating thereto.Source   Laws 1913, c. 154, § 29, p. 411;   R.S.1913, § 3165;   Laws 1919, c. 190, tit. V, art. III, § 21, p. 590;   C.S.1922, § 7765;   C.S.1929, § 44-221;   R.S.1943, § 44-212;   Laws 1989, LB 92, § 58.  Annotations Basic authority for fixing salaries of employees was vested in board of directors. Ledwith v. Bankers Life Ins. Co., 156 Neb. 107, 54 N.W.2d 409 (1952).
NE Code § 44-213 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-213 - Employee, officer, trustee, or director of domestic company; salaries; length of contract; limitations; deferred payment of compensation; employee benefit plans.

44-213.  Employee, officer, trustee, or director of domestic company; salaries; length of contract; limitations; deferred payment of compensation; employee benefit plans.No domestic insurance company shall pay any salary, compensation, or emolument to any salaried employee or to any officer, trustee, or director thereof in excess of a reasonable return for the services performed or to be performed by such person. The shareholders of stock companies and the members of other companies shall retain the power at any meeting to alter or discontinue any employment agreement. No such company shall make an agreement with any salaried employee or with any officer, trustee, or director whereby it agrees that, for any services to be rendered, he or she shall receive any salary, compensation, or emolument that will extend beyond a period of five years from the date of such agreement, but any such company may make a conditional or unconditional agreement with any such person whereby it agrees that, in consideration of a current salary, compensation, or emolument of any amount less than a reasonable return for the services performed or to be performed by such person, he or she shall at specified future time or times, without regard to the five-year limitation set out in this section, receive, either without further condition or subject to reasonable contingencies, additional deferred salary, compensation, or emolument of any amount adequate to make the total thereof received by such person a reasonable return for the services performed by such person. Salary, compensation, and emolument as used in this section shall not include payments made pursuant to a plan for retirement, disability, sickness, accident, or death benefits.Source   Laws 1913, c. 154, § 46, p. 418;   R.S.1913, § 3182;   Laws 1919, c. 190, tit. V, art. IV, § 17, p. 597;   C.S.1922, § 7782;   Laws 1925, c. 125, § 1, p. 331;   C.S.1929, § 44-317;   R.S.1943, § 44-213;   Laws 1945, c. 106, § 1, p. 340;   Laws 1953, c. 146, § 1, p. 470;   Laws 1957, c. 176, § 1, p. 608;   Laws 1961, c. 213, § 1, p. 631;   Laws 1975, LB 374, § 1;   Laws 1989, LB 92, § 59.
NE Code § 44-214 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-214 - Stock insurance company; capital stock and surplus requirements; lines of insurance authorized; additional requirements.

44-214.  Stock insurance company; capital stock and surplus requirements; lines of insurance authorized; additional requirements.(1) Except as provided in section 44-202.01, no stock insurance company shall, on and after August 25, 1989, transact any line of insurance specified in section 44-201 in this state unless it maintains a capital stock, actually paid in cash or invested as provided by law, of at least one million dollars, nor shall it, on or after such date, transact the line or lines of insurance specified in subdivisions (1) and (2) of section 44-201 and in addition thereto one or more lines of insurance other than those specified in subdivisions (3) and (4) of such section in this state unless it maintains a capital stock, actually paid in cash or invested as provided by law, of at least two million dollars. No stock insurance company shall, on and after August 25, 1989, begin to transact any line of insurance as specified in section 44-201 unless it has a surplus of at least one million dollars, nor shall it, on and after such date, begin to transact the line or lines of insurance specified in subdivisions (1) and (2) of section 44-201 and in addition thereto one or more lines of insurance other than those specified in subdivisions (3) and (4) of such section in this state unless it has a surplus of at least two million dollars.(2) The provisions of subsection (1) of this section shall be considered minimum requirements. Stock insurers holding a certificate of authority to transact business in this state shall also be subject to the requirements of the Insurers and Health Organizations Risk-Based Capital Act.Source   Laws 1913, c. 154, § 86, p. 430;   R.S.1913, § 3223;   Laws 1919, c. 190, tit. V, art. V, § 9, p. 610;   C.S.1922, § 7822;   Laws 1925, c. 123, § 1, p. 324;   C.S.1929, § 44-409;   Laws 1935, c. 98, § 1, p. 326;   C.S.Supp.,1941, § 44-409;   R.S.1943, § 44-214;   Laws 1949, c. 141, § 1, p. 365;   Laws 1957, c. 177, § 1, p. 610;   Laws 1965, c. 253, § 2, p. 716;   Laws 1967, c. 262, § 3, p. 703;   Laws 1974, LB 919, § 1;   Laws 1989, LB 92, § 61;   Laws 1993, LB 583, § 39;   Laws 1994, LB 978, § 15;  Laws 1999, LB 258, § 1.  Cross References  Insurers and Health Organizations Risk-Based Capital Act, see section 44-6001.Annotations Under prior law, setting the subscription price of the capital stock of a former mutual company at one hundred twenty-five percent of par so as to provide the surplus required by the statute, was at most a mere irregularity. Leininger v. North Am. Nat. Life Ins. Co., 115 Neb. 801, 215 N.W. 167 (1927).
NE Code § 44-216 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-216 - Mutual company; assessment association; articles of incorporation; contents.

44-216.  Mutual company; assessment association; articles of incorporation; contents.The articles of incorporation of a mutual company or an assessment association may limit the insurance to specified kinds or classes of property, lives, individuals, or liabilities within any subdivision of section 44-201 or the territory within which insurance shall be granted and shall provide the manner in which policyholders of a mutual company shall participate in the profits of the company.Source   Laws 1913, c. 154, § 85, p. 430;   R.S.1913, § 3222;   Laws 1919, c. 190, tit. V, art. V, § 8, p. 610;   C.S.1922, § 7821;   C.S.1929, § 44-408;   R.S.1943, § 44-216;   Laws 1989, LB 92, § 62.
NE Code § 44-217 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-217 - Mutual company; assessment association; membership; voting.

44-217.  Mutual company; assessment association; membership; voting.Each person, corporation, association, partnership, or limited liability company owning a policy or policies of insurance issued by a mutual company or an assessment association shall be a member thereof and have one vote.Source   Laws 1913, c. 154, § 83, p. 429;   R.S.1913, § 3220;   Laws 1919, c. 190, tit. V, art. V, § 6, p. 610;   C.S.1922, § 7819;   C.S.1929, § 44-406;   R.S.1943, § 44-217;   Laws 1989, LB 92, § 63;   Laws 1993, LB 121, § 220.  Annotations The provision that guarantees full rights of subscription to the members of a mutual insurance company, transformed into a stock company, refers to the policyholders of the former mutual company. Leininger v. North Am. Nat. Life Ins. Co., 115 Neb. 801, 215 N.W. 167 (1927).
NE Code § 44-218 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-218 - Mutual company; limitation of liability.

44-218.  Mutual company; limitation of liability.The liability of a member of a mutual company shall be limited to the premiums stated in the policy.Source   Laws 1913, c. 154, § 79, p. 428;   R.S.1913, § 3216;   Laws 1919, c. 190, tit. V, art. V, § 2, p. 608;   C.S.1922, § 7815;   Laws 1925, c. 124, § 2, p. 328;   C.S.1929, § 44-402;   Laws 1931, c. 89, § 1, p. 251;   C.S.Supp.,1941, § 44-402;   R.S.1943, § 44-218;   Laws 1957, c. 189, § 1, p. 662;   Laws 1989, LB 92, § 64.  Annotations  Assessments conformed to statute and could be recovered by company in action against policyholder. Nebraska Mutual Ins. Co. v. Borden, 132 Neb. 656, 272 N.W. 767 (1937). Assessment in excess of limitation herein prescribed is at least partially invalid, and failure to pay same is no defense to action on policy. Hobza v. State Farmers Ins. Co., 125 Neb. 776, 252 N.W. 214 (1934).
NE Code § 44-219 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-219 - Domestic mutual company; transaction of business; policies and reserve required; additional requirements.

44-219.  Domestic mutual company; transaction of business; policies and reserve required; additional requirements.(1)(a) No domestic mutual insurance company shall begin to transact the business of insurance until (i) it has received not less than one hundred applications for insurance unless organized to write (A) workers' compensation and employers liability insurance, in which case it shall receive applications from at least twenty employers covering in the aggregate five hundred employees, or (B) the line or lines of insurance specified in subdivisions (13) and (14) of section 44-201, in which case no application shall be required, and in addition thereto (ii) it has received in cash one annual premium for each application for insurance.(b) Except as provided in section 44-202.01, no mutual insurance company shall, on and after August 25, 1989, transact any line of insurance specified in section 44-201 in this state unless it has and maintains a minimum surplus, in cash or invested as provided by law, of at least one million dollars, nor shall it, on and after such date, transact the line or lines of insurance specified in subdivisions (1) and (2) of section 44-201 and in addition thereto one or more lines of insurance other than those specified in subdivisions (3) and (4) of such section in this state unless it has and maintains a minimum surplus, in cash or invested as provided by law, of at least two million dollars.(2) The provisions of subsection (1) of this section shall be considered minimum requirements. Mutual insurers holding a certificate of authority to transact business in this state shall also be subject to the requirements of the Insurers and Health Organizations Risk-Based Capital Act.Source   Laws 1913, c. 154, § 87, p. 431;   R.S.1913, § 3224;   Laws 1919, c. 190, tit. V, art. V, § 10, p. 611;   C.S.1922, § 7823;   C.S.1929, § 44-410;   Laws 1941, c. 84, § 1, p. 332;   C.S.Supp.,1941, § 44-410;   R.S.1943, § 44-219;   Laws 1949, c. 142, § 1(1), p. 366;   Laws 1957, c. 178, § 11, p. 616;   Laws 1965, c. 253, § 3, p. 717;   Laws 1967, c. 262, § 4, p. 703;   Laws 1974, LB 919, § 2;   Laws 1986, LB 811, § 15;   Laws 1989, LB 92, § 65;   Laws 1993, LB 583, § 40;   Laws 1994, LB 978, § 16;  Laws 1999, LB 258, § 2.  Cross References  Insurers and Health Organizations Risk-Based Capital Act, see section 44-6001.Annotations Contracts, providing for distribution of a percentage of the premiums collected annually as dividends to charter members, made in an effort to secure the number of applications required by statute before business may be commenced, are ultra vires in the absence of authority therefore in the statute or charter. Durland v. Elkhorn Life & Acc. Ins. Co., 112 Neb. 105, 198 N.W. 564 (1924).
NE Code § 44-220 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-220 - Domestic company; power to borrow; purposes; conditions; issuance of surplus notes.

44-220.  Domestic company; power to borrow; purposes; conditions; issuance of surplus notes.In addition to the general power and authority to borrow money for its regular business purposes, any domestic insurance company may borrow money: (1) To defray the reasonable expenses of its organization; (2) to provide special contingency loss funds; (3) to provide additional surplus funds; (4) to make good any deficiency; and (5) to provide the amount of minimum surplus required by Chapter 44 and may issue its notes therefor, to be known as surplus notes, which shall fully recite the purpose for which the money was borrowed, if application has been made to the Department of Insurance and approval in writing is obtained from the Director of Insurance for the issuance of such surplus notes in a stated maximum amount. The amount thereof outstanding with the unpaid interest shall be stated in each annual report.Source   Laws 1913, c. 154, § 84, p. 429;   R.S.1913, § 3221;   Laws 1919, c. 190, tit. V, art. V, § 7, p. 610;   C.S.1922, § 7820;   C.S.1929, § 44-407;   Laws 1941, c. 83, § 1, p. 330;   C.S.Supp.,1941, § 44-407;   R.S.1943, § 44-220;   Laws 1949, c. 143, § 1, p. 368;   Laws 1965, c. 256, § 1, p. 723;   Laws 1989, LB 92, § 66;   Laws 1994, LB 1222, § 48.
NE Code § 44-221 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-221 - Domestic company; surplus notes; repayment; interest rate.

44-221.  Domestic company; surplus notes; repayment; interest rate.(1) Except as provided in this subsection, surplus notes issued prior to September 9, 1995, and the indebtedness which they represent shall not be a liability or claim against any of the assets of the company. The principal of such notes may be paid from time to time, either in full or in part, from available surplus funds of the company only when the amount of the surplus of the company over all liabilities is double that of the principal amount then being paid. The company shall have the right to make such repayments whenever it is able to do so, except that the company shall first receive the prior approval of the Director of Insurance for any such repayments. The director shall use the standards set forth in section 44-2136 relating to adequacy of surplus in determining whether or not to approve such repayments. The interest on such notes shall only be payable from the surplus and shall not exceed such sum as may be fixed. Upon a dissolution of the company, the principal and accrued and unpaid interest shall be payable from the surplus.(2) Except as provided in this subsection, the principal of surplus notes issued on or after September 9, 1995, and the indebtedness which such notes represent shall not be a liability or claim against any of the assets of the company. The principal of and interest on such notes may be paid from time to time, either in full or in part, from available surplus funds of the company only when the amount of the surplus of the company over all liabilities is double that of the amount of principal and interest then being paid. The company shall have the right to make such payments whenever it is able to do so, except that the company shall first receive the prior approval of the Director of Insurance for any such payments. The director shall use the standards set forth in section 44-2136 relating to adequacy of surplus in determining whether or not to approve such payments. Upon a dissolution of the company, the principal and accrued and unpaid interest shall be payable from the surplus.Source   Laws 1913, c. 154, § 84, p. 430;   R.S.1913, § 3221;   Laws 1919, c. 190, tit. V, art. V, § 7, p. 610;   C.S.1922, § 7820;   C.S.1929, § 44-407;   Laws 1941, c. 83, § 1, p. 330;   R.S.Supp.,1941, § 44-407;   R.S.1943, § 44-221;   Laws 1973, LB 405, § 1;   Laws 1989, LB 92, § 67;   Laws 1991, LB 236, § 36;   Laws 1994, LB 1222, § 49;   Laws 1995, LB 162, § 1.
NE Code § 44-222 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-222 - Insurance; maximum risks; exceptions.

44-222.  Insurance; maximum risks; exceptions.Except as otherwise provided by law, no insurance company shall expose itself to any loss on any one risk in an amount exceeding ten percent of its surplus to policyholders as reflected by the last annual statement of the company, except that domestic assessment associations organized for the primary purpose of writing insurance coverage on farm properties and which write such insurance in less than thirty-one counties in Nebraska shall not write any policy for an amount in excess of one-eighth of one percent of its insurance in force. The term loss shall mean the incremental decrease in surplus resulting from payment of a claim equal to the maximum liability of the insurer on any one risk. The term any one risk shall mean, in the case of property insurance, all properties insured by the same insurance company which are customarily considered by underwriters to be subject to loss or destruction from the same hazard or occurrence except hazards or occurrences of a catastrophic nature. The term surplus to policyholders shall mean the amount obtained by subtracting, from the admitted assets, actual liabilities, including any reserves which by law must be maintained. In the case of a stock company, surplus to policyholders shall also include the paid-up and outstanding capital stock. Any reinsurance taking effect simultaneously with the policy or bond shall be deducted in determining whether any one risk or policy exceeds the limitation of risk or policy prescribed in this section. This section shall not be applicable to workers' compensation or employers liability insurance or to any policy or type of coverage as to which the maximum possible loss to the insurance company is not ascertainable on issuance of the policy.Source   Laws 1913, c. 154, § 88, p. 431;   R.S.1913, § 3225;   Laws 1919, c. 190, tit. V, art. V, § 11, p. 611;   C.S.1922, § 7824;   C.S.1929, § 44-411;   Laws 1935, c. 98, § 2, p. 326;   C.S.Supp.,1941, § 44-411;   R.S.1943, § 44-222;   Laws 1957, c. 179, § 1, p. 618;   Laws 1959, c. 197, § 1, p. 704;   Laws 1986, LB 811, § 16;   Laws 1987, LB 416, § 18;   Laws 1989, LB 92, § 68;   Laws 1994, LB 978, § 17.
NE Code § 44-222.01 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-222.01 - Insurance; maximum risk; reinsurance; filing information with director.

44-222.01.  Insurance; maximum risk; reinsurance; filing information with director.For the purpose of determining whether any one risk exceeds the limitation imposed by section 44-222, reinsurance shall be in a company acceptable to the Director of Insurance. If requested by the director, the original company writing the risk or policy shall file with the Director of Insurance evidence of such reinsurance listing the name of the reinsurer and such other information pertaining thereto as may be required by the director.Source   Laws 1959, c. 197, § 2, p. 705;   Laws 1989, LB 92, § 69.
NE Code § 44-222.02 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-222.02 - Violations; report to Attorney General; suspension of authority to do business; appeal.

44-222.02.  Violations; report to Attorney General; suspension of authority to do business; appeal.The Director of Insurance may, if he or she finds that any person or insurer has violated any of the provisions of sections 44-222 and 44-222.01, report the facts to the Attorney General for prosecution in accordance with the provisions of section 44-395. In lieu of the criminal prosecution provided herein or in addition thereto the Director of Insurance may suspend such insurer's authority to do business in Nebraska for such length of time as the director may prescribe. An appeal may be taken from the decision of the director, and the appeal shall be in accordance with the Administrative Procedure Act.Source   Laws 1959, c. 197, § 3, p. 705;   Laws 1969, c. 359, § 9, p. 1271;   Laws 1988, LB 352, § 41;   Laws 1989, LB 92, § 70.  Cross References  Administrative Procedure Act, see section 84-920.
NE Code § 44-223 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-223 - Insurance companies; incorporators and directors; liability.

44-223.  Insurance companies; incorporators and directors; liability.The original incorporators, until the election of directors, and thereafter the directors shall be jointly and severally liable for any losses incurred during the following time or times: (1) For the excess of any policy above the maximum single risks prescribed by section 44-222 during the time that such policy exceeds such maximum single risks; (2) for any losses occurring upon any new risk taken after the expiration of the period designated by the Department of Insurance in accordance with sections 44-120 to 44-124 in which to make good any deficiency; and (3) for all debts and liabilities contracted prior to the time the company received its certificate of authority.Source   Laws 1913, c. 154, § 89, p. 432;   R.S.1913, § 3226;   Laws 1919, c. 190, tit. V, art. V, § 12, p. 612;   C.S.1922, § 7825;   C.S.1929, § 44-412;   R.S.1943, § 44-223;   Laws 1959, c. 198, § 1, p. 706;   Laws 1989, LB 92, § 71.
NE Code § 44-224.01 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-224.01 - Reinsurance, merger, consolidation; terms, defined.

44-224.01.  Reinsurance, merger, consolidation; terms, defined.For purposes of sections 44-224.01 to 44-224.10, unless the context otherwise requires:(1) Director shall mean the Director of Insurance or his or her authorized representative;(2) Policyholders shall mean the members of mutual insurance companies, the members of assessment associations, and the subscribers to reciprocal insurance exchanges;(3) Merger or contract of merger shall mean a merger or consolidation agreement between stock insurance companies as authorized by the Nebraska Model Business Corporation Act;(4) Consolidation or contract of consolidation shall mean a merger or consolidation agreement between companies operating on other than the stock plan of insurance; and(5) Bulk reinsurance or contract of bulk reinsurance shall mean an agreement whereby one company cedes by an assumption reinsurance agreement fifty percent or more of its risks and business to another company.Source   Laws 1957, c. 180, § 1, p. 620;   Laws 1969, c. 359, § 10, p. 1271;   Laws 1989, LB 92, § 72;   Laws 1995, LB 109, § 218;  Laws 2014, LB749, § 284. Cross References  Nebraska Model Business Corporation Act, see section 21-201.
NE Code § 44-224.02 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-224.02 - Reinsurance; authorization.

44-224.02.  Reinsurance; authorization.(1) Any domestic insurance company may, in the course of its business, accept reinsurance or bulk reinsurance for the same kinds of insurance and within the same limits as it is authorized to transact directly.(2) Any domestic insurance company may, in the usual course of business, reinsure any of its risks.Source  Laws 1957, c. 180, § 2, p. 620.