reglab/housing_qa huggingface dataset:
NE Code § 44-5005 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5005 - Rules and regulations.

44-5005.  Rules and regulations.The Department of Insurance may adopt and promulgate rules and regulations necessary to implement the Children of Nebraska Hearing Aid Act.Source Laws 2019, LB15, § 5.
NE Code § 44-5101 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5101 - Act, how cited.

44-5101.  Act, how cited.Sections 44-5101 to 44-5154 shall be known and may be cited as the Insurers Investment Act.Source   Laws 1991, LB 237, § 1;  Laws 2003, LB 216, § 12.
NE Code § 44-5102 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5102 - Purpose of act.

44-5102.  Purpose of act.The purpose of the Insurers Investment Act is to protect and further the interests of policyholders, claimants, creditors, and the general public by establishing standards, requirements, and limitations for the investments of insurers doing business in this state. Such standards, requirements, and limitations are intended to promote solvency, investment yield and growth, investment diversification, investment value stability, and liquidity to meet business needs.Source  Laws 1991, LB 237, § 2.
NE Code § 44-5104 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5104 - Applicability of act.

44-5104.  Applicability of act.(1) A domestic insurer holding a certificate of authority to do business in this state shall be subject to the Insurers Investment Act. Except as otherwise provided by law, only investments determined to be authorized investments under the act shall be considered admitted assets for purposes of a domestic insurer's financial statements filed with the director pursuant to section 44-322.(2) A foreign or alien insurer holding a certificate of authority to do business in this state shall not be subject to the act unless the director notifies such insurer that any of its investments will not be recognized by him or her as an authorized investment for purposes of the act.Source   Laws 1991, LB 237, § 4;   Laws 1997, LB 273, § 3.
NE Code § 44-5105 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5105 - Authorization and approval; investment records; board of directors; duties.

44-5105.  Authorization and approval; investment records; board of directors; duties.(1) An insurer shall not make any investment, sale, loan, or exchange, except loans on its own policies or contracts, unless authorized, approved, or ratified by a majority of the members of the board of directors or by a committee of its members charged by the board of directors or bylaws with the duty of making such investment, sale, loan, or exchange. The board of directors shall further determine by formal resolution at least annually whether all investments have been made in accordance with the delegations, standards, limitations, and investment objectives prescribed by the board of directors or a committee of the board of directors charged with the responsibility to direct its investments.(2) The board of directors, after reviewing and assessing the insurer's technical investment and administrative capabilities and expertise, shall adopt a written plan for making investments and for engaging in investment practices. The plan shall specify, unless otherwise authorized by the Director of Insurance, the quality, maturity, and diversification of investments, including investment strategies intended to assure that the investments and investment practices are appropriate for the business conducted by the insurer, its liquidity needs, and its capital and surplus.(3) On no less than a quarterly basis, and more often if deemed appropriate, the board of directors or committee of the board of directors shall:(a) Receive and review a summary report on the insurer's investment portfolio, investment activities, and investment practices engaged in under delegated authority, in order to determine whether the investment activity of the insurer is consistent with its written plan; and(b) Review and revise, as appropriate, the written plan.(4) The board of directors shall require that records of authorizations, approvals or other documentation as the board of directors may require, and reports of any action taken under authority delegated under the written plan shall be made available on a regular basis to the board of directors.(5) The board of directors shall perform its duties in good faith and with that degree of care that ordinarily prudent individuals in like positions would use under similar circumstances.(6) Each insurer shall maintain a record of its investments in a form and manner as prescribed by the Director of Insurance. Such record shall include an indication by the insurer of the provision of law under which an investment is held.(7) For purposes of this section, board of directors includes the governing body of an insurer having authority equivalent to that of a board of directors.Source   Laws 1991, LB 237, § 5;   Laws 1997, LB 273, § 4.
NE Code § 44-5106 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5106 - Policy loans.

44-5106.  Policy loans.An insurer may make loans on any of its policies in an amount not exceeding the reserve thereon.Source  Laws 1991, LB 237, § 6.
NE Code § 44-5107 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5107 - Separate accounts.

44-5107.  Separate accounts.A life insurer may allocate amounts to separate accounts established pursuant to sections 44-402.01 to 44-402.05.Source  Laws 1991, LB 237, § 7.
NE Code § 44-5108 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5108 - Convertible securities.

44-5108.  Convertible securities.An insurer may invest in securities which are convertible into other securities if:(1) The convertible securities are authorized under the Insurers Investment Act at the time of acquisition; and(2) The securities into which such securities are convertible are authorized under the act at the time of conversion.Source  Laws 1991, LB 237, § 8.
NE Code § 44-5109 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5109 - Investments in name of insurer.

44-5109.  Investments in name of insurer.An insurer's investments shall be held in its own name or the name of its nominee, except that:(1) Investments may be held in the name of a clearing corporation, a custodian, or the nominee of either on the following conditions:(a) The clearing corporation, custodian, or nominee shall be legally authorized to hold the particular investment for the account of others;(b) Security certificates held by the custodian shall be held separate from the security certificates of the custodian and of all its other customers; and(c) Securities held indirectly by the custodian and securities in a clearing corporation shall be separately identified on the custodian's official records as being owned by the insurer. The records shall identify which securities are held by the custodian or by its agent and which securities are in a clearing corporation. If the securities are in a clearing corporation, the records shall also identify where the securities are and if in a clearing corporation, the name of the clearing corporation, and if through an agent, the name of the agent; and(2) An insurer may participate through a member bank in the Federal Reserve book-entry system. The records of the member bank shall at all times show that the investments are held for the insurer or for specific accounts of the insurer.Source   Laws 1991, LB 237, § 9;  Laws 2005, LB 119, § 14.
NE Code § 44-5110 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5110 - Participation.

44-5110.  Participation.(1) An insurer may invest in an individual interest of a pool of obligations or a fractional interest of a single obligation if:(a) The certificate of participation or interest or the confirmation of participation or interest in the investment is issued in the name of the insurer, a custodian bank, or the nominee of either; and(b) The certificate or confirmation, if held by a custodian bank, is kept separate and apart from the investment of others so that at all times the participation or interest may be identified as belonging solely to the insurer making the investment.(2) If an investment is not evidenced by a certificate, adequate evidence of the insurer's investment shall be obtained from the issuer or its transfer or recording agent and retained by the insurer, custodian bank, or clearing corporation except as provided in subdivision (2) of section 44-5109. For purposes of this subsection, adequate evidence shall mean a written receipt or other verification issued by the depository, issuer, or custodian bank which shows that the investment is held for the insurer. Transfers of ownership or investments held as described in subdivisions (1)(c) and (2) of section 44-5109 and this section may be evidenced by a bookkeeping entry on the books of the issuer of the investment, its transfer or recording agent, or the clearing corporation without physical delivery of certificates, if any, evidencing the insurer's investment.(3) Any investment made pursuant to this section shall also conform with the following:(a) The investment in which the interest is purchased shall be authorized under the Insurers Investment Act; and(b) The insurer's pro rata interest in the investment shall be in the same percentage as the par amount of its interest bears to the outstanding par amount of the investment at the time of purchase.(4) An investment may be authorized under this section although its interest does not include the right to exercise the investor's rights or enforce the investor's remedies according to the provisions of the issue.(5) Any investment made pursuant to this section shall be purchased pursuant to a written participation agreement.Source   Laws 1991, LB 237, § 10;   Laws 1997, LB 273, § 5;  Laws 2003, LB 216, § 13;  Laws 2007, LB117, § 13.
NE Code § 44-5111 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5111 - Computation of investment limitations.

44-5111.  Computation of investment limitations.Any investment limitation in the Insurers Investment Act based upon the amount of the insurer's admitted assets or policyholders surplus shall relate to admitted assets or policyholders surplus as shown by the most recent financial statement filed by the insurer pursuant to section 44-322 unless the insurer's admitted assets or policyholders surplus is revised as a result of an examination conducted pursuant to the Insurers Examination Act, in which case the results of the examination shall control. Except as otherwise provided by law, an investment shall be measured by the lesser of actual cost or admitted value at the time of acquisition. If there is no actual cost at the time of acquisition, the investment shall be measured at the lesser of fair value or admitted value.For purposes of this section, actual cost means the total amount invested, expended, or which should be reasonably anticipated to be invested or expended in the acquisition or organization of any investment, insurer, or subsidiary, including all organizational expenses or contributions to capital and surplus whether or not represented by the purchase of capital stock or issuance of other securities.Source   Laws 1991, LB 237, § 11;   Laws 1993, LB 583, § 111;  Laws 2007, LB117, § 14. Cross References  Insurers Examination Act, see section 44-5901.
NE Code § 44-5112 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5112 - Minimum quality ratings.

44-5112.  Minimum quality ratings.Any investment required to meet minimum quality ratings by the Insurers Investment Act shall be subject to the following categories:(1) Category 1. Any investment subject to this subdivision shall have a 1 designation from the Securities Valuation Office. If the Securities Valuation Office does not rate the investment in question but does rate an obligation of the obligor having a priority equal to or lower than the investment in question, the insurer may apply such rating to the investment. If the Securities Valuation Office does not rate the investment in question or an outstanding obligation of the obligor having a priority equal to or lower than the investment in question, the investment shall have a minimum quality rating of A3 by Moody's Investors Services, Inc., A- by Standard and Poor's Corporation, or the corresponding investment grade rating from any nationally recognized statistical rating organization recognized by the Securities Valuation Office; and(2) Category 2. Any investment subject to this subdivision shall have a 1 or 2 designation from the Securities Valuation Office. If the Securities Valuation Office does not rate the investment in question but does rate an obligation of the obligor having a priority equal to or lower than the investment in question, the insurer may apply such rating to the investment. If the Securities Valuation Office does not rate the investment in question or an outstanding obligation of the obligor having a priority equal to or lower than the investment in question, the investment shall have a minimum quality rating of Baa3 by Moody's Investors Services, Inc., BBB- by Standard and Poor's Corporation, or the corresponding investment grade rating from any nationally recognized statistical rating organization recognized by the Securities Valuation Office. If the obligor of an investment is authorized by, established by, or incorporated under the laws of Canada or any province thereof and the Securities Valuation Office does not rate the investment in question, the minimum quality rating shall be BBB (low) by the Dominion Bond Rating Service, B++ by the Canadian Bond Rating Service, or the corresponding rating of any successor organization approved by the director.Source   Laws 1991, LB 237, § 12;   Laws 1997, LB 273, § 6.
NE Code § 44-5113 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5113 - Valuation of investments.

44-5113.  Valuation of investments.For purposes of the Insurers Investment Act, investments shall be valued in accordance with the valuation procedures established by the National Association of Insurance Commissioners unless the director requires a different valuation method or finds another valuation method reasonable under the circumstances.Source  Laws 1991, LB 237, § 13.
NE Code § 44-5114 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5114 - Prohibited investments.

44-5114.  Prohibited investments.An insurer shall not invest in:(1) Issued shares of its own capital stock except with the written permission of the director. Such permission may be granted if the purpose of the acquisition is:(a) In connection with the lawful plan for mutualization of the insurer;(b) In furtherance of a retirement, pension, or incentive program for officers or employees of the insurer which has been approved by the shareholders; or(c) Shown to be for the benefit of all shareholders.Any share acquired pursuant to this subdivision shall not be considered an admitted asset; and(2) Any investment which is found by the director to be designed to evade any provision of the Insurers Investment Act.Source  Laws 1991, LB 237, § 14.
NE Code § 44-5115 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5115 - Limitation in any one person.

44-5115.  Limitation in any one person.(1) Except as provided in subsections (2) through (4) of this section, an insurer's investments authorized under the Insurers Investment Act in any one person shall not exceed five percent of the insurer's admitted assets.(2) Subsection (1) of this section shall not apply to:(a) Investments authorized under sections 44-5123, 44-5125, 44-5142, and 44-5153;(b) Investments authorized under sections 44-5124, 44-5126 to 44-5129, and 44-5132 if collateralized by obligations or mortgages for which the full faith and credit of the United States or Canada is pledged for the payment of all principal and interest;(c) Loans made pursuant to section 44-5106; and(d) Real estate held pursuant to subsection (2) or (3) of section 44-5144.(3)(a) An insurer's investments authorized under section 44-5124 or 44-5126 in any one agency or instrumentality of the United States or Canada shall not exceed twenty-five percent of the insurer's admitted assets, and (b) an insurer's investments authorized under section 44-5132 in any one person if collateralized by mortgages for which the full faith and credit of an agency or instrumentality of the United States or Canada is pledged for the payment of all principal and interest shall not exceed twenty-five percent of the insurer's admitted assets. An insurer's investments authorized under section 44-5124 or 44-5126 in any one agency or instrumentality of the United States or Canada and the insurer's investments authorized under section 44-5132 collateralized by mortgages for which the full faith and credit of such agency or instrumentality of the United States or Canada is pledged for the payment of all principal and interest, in the aggregate, shall not exceed twenty-five percent of the insurer's admitted assets.(4)(a) An insurer's investments in any one person whose senior obligations have a 3 designation from the Securities Valuation Office, in the aggregate, shall not exceed three percent of the insurer's admitted assets.(b) An insurer's investments in any one person whose senior obligations have a 4 designation from the Securities Valuation Office, in the aggregate, shall not exceed two percent of the insurer's admitted assets.(c) An insurer's investments in any one person whose senior obligations have a 5 designation from the Securities Valuation Office, in the aggregate, shall not exceed one percent of the insurer's admitted assets.(d) An insurer's investments in any one person whose senior obligations have a 6 designation from the Securities Valuation Office, in the aggregate, shall not exceed one-half percent of the insurer's admitted assets.(5) For purposes of this section, person shall mean an individual or entity or group of individuals or entities so related as in fact to constitute a single venture, institution, corporation, association, company, partnership, limited liability company, syndicate, trust, society, or other legal entity.Source   Laws 1991, LB 237, § 15;   Laws 1993, LB 121, § 259;   Laws 1997, LB 273, § 7;   Laws 1998, LB 1035, § 10.
NE Code § 44-5116 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5116 - Several obligors.

44-5116.  Several obligors.The amount of any obligation issued, assumed, or guaranteed by more than one obligor and authorized under more than one provision of the Insurers Investment Act shall be allocated to those provisions on a basis proportional to the obligations of each obligor.Source  Laws 1991, LB 237, § 16.
NE Code § 44-5117 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5117 - Investments authorized under more than one provision.

44-5117.  Investments authorized under more than one provision.An insurer may hold an investment authorized under more than one provision of the Insurers Investment Act under the provision of its choice except as otherwise expressly provided by law. Nothing in the act shall prevent an insurer from holding an investment under a provision different from the one under which it previously held the investment except as otherwise expressly provided by law.Source   Laws 1991, LB 237, § 17;   Laws 1997, LB 273, § 8.
NE Code § 44-5118 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5118 - Legal tender.

44-5118.  Legal tender.All cash payments of principal, interest, premiums, dividends, and other cash consideration received on any investment authorized under the Insurers Investment Act shall be payable in lawful money of the United States except as provided in section 44-5137.Source   Laws 1991, LB 237, § 18;   Laws 1997, LB 273, § 9.
NE Code § 44-5119 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5119 - Director's authority.

44-5119.  Director's authority.(1) The director may impose reasonable and temporary restrictions upon the investments of an insurer, including prohibition or divestment of a particular investment, if the director finds that the interests of insureds, creditors, or the general public are or may be endangered.(2) If any insurer desires to exceed any investment limitation contained in the Insurers Investment Act, the insurer shall file an application with the director requesting written approval to exceed the investment limitation. The application shall set out all pertinent information regarding the proposed investment, including a full description of the investment, its actual cost, its market value, any appraisals, any encumbrances, the interest rate, the maturity dates, as appropriate, and any other relevant information requested by the director. The application shall be a public record open to public inspection from the date of filing. If the application is not approved or disapproved by the director within thirty days from the date of filing, the application shall be deemed disapproved. The disapproval in whole or in part shall be in the sole discretion of the director and shall not be subject to judicial review.In determining whether to approve or disapprove the application, the director shall consider the following factors:(a) The credit risk quality of the proposed investment;(b) The liquidity of the proposed investment and of the insurer's entire investment portfolio;(c) The extent of the diversification of the insurer's investment portfolio;(d) The yield of the proposed investment;(e) The reasonableness of the insurer's policyholders surplus in relation to the insurer's outstanding liabilities and financial needs as evaluated in accordance with the factors set forth in section 44-2136; and(f) Any other relevant considerations.If the director approves the application in whole or in part, the proposed investment shall be deemed to be an authorized investment to the extent of the director's approval. Whenever an insurer makes application pursuant to this subsection, the director may retain, at the insurer's expense, such attorneys, actuaries, accountants, and other experts not otherwise a part of the director's staff as are reasonably necessary to assist the director in determining whether such application should be approved. Any individual or organization so retained shall be under the direction and control of the director and shall serve in a purely advisory capacity.Source  Laws 1991, LB 237, § 19.
NE Code § 44-5121 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5121 - Applicability of act.

44-5121.  Applicability of act.An insurer's investments shall be subject to the Insurers Investment Act notwithstanding anything in 15 U.S.C. 77r-1 to the contrary.Source  Laws 1991, LB 237, § 21.
NE Code § 44-5122 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5122 - Investments held on September 13, 1997.

44-5122.  Investments held on September 13, 1997.Any investment held by an insurer on September 13, 1997, which was an authorized investment immediately prior to such date shall be deemed an authorized investment under the Insurers Investment Act.Source   Laws 1991, LB 237, § 22;   Laws 1997, LB 273, § 11.
NE Code § 44-5123 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5123 - United States Government and government-guaranteed obligations.

44-5123.  United States Government and government-guaranteed obligations.An insurer may invest in direct obligations of the United States or obligations for which the full faith and credit of the United States is pledged for the payment of all principal and interest.Source  Laws 1991, LB 237, § 23.
NE Code § 44-5124 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-5124 - United States agency and instrumentality obligations.

44-5124.  United States agency and instrumentality obligations.An insurer may invest in direct obligations of any agency or instrumentality of the United States or obligations for which the full faith and credit of any agency or instrumentality of the United States is pledged for the payment of all principal and interest.Source  Laws 1991, LB 237, § 24.