reglab/housing_qa huggingface dataset:
NE Code § 44-6008 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-6008 - Insurer, defined.

44-6008.  Insurer, defined.Insurer means an insurer as defined in section 44-103 authorized to transact the business of insurance, except that insurer does not include health organizations, unincorporated mutual associations, assessment associations, health maintenance organizations, prepaid dental service corporations, prepaid limited health service organizations, monoline mortgage guaranty insurers, monoline financial guaranty insurers, title insurers, prepaid legal corporations, intergovernmental risk management pools, and any other kind of insurer to which the application of the Insurers and Health Organizations Risk-Based Capital Act, in the determination of the director, would be clearly inappropriate. Insurer includes a risk retention group.Insurer, when referring to life and health insurers, means an insurer authorized to transact life insurance business and sickness and accident insurance business specified in subdivisions (1) through (4) of section 44-201, or any combination thereof, and also includes fraternal benefit societies authorized to transact business specified in sections 44-1072 to 44-10,109.Insurer, when referring to property and casualty insurers, means an insurer authorized to transact property insurance business and casualty insurance business specified in subdivisions (5) through (14) and (16) through (20) of section 44-201, or any combination thereof, and also includes an insurer authorized to transact insurance business specified in subdivision (4) of section 44-201 if also authorized to transact insurance business specified in subdivisions (5) through (14) and (16) through (20) of section 44-201.Source   Laws 1993, LB 583, § 20;   Laws 1994, LB 978, § 35;  Laws 1999, LB 258, § 13;  Laws 2013, LB426, § 3;  Laws 2014, LB700, § 18.
NE Code § 44-6009 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-6009 - Negative trend, with respect to a life and health insurer or a fraternal benefit society, defined.

44-6009.  Negative trend, with respect to a life and health insurer or a fraternal benefit society, defined.Negative trend, with respect to a life and health insurer or a fraternal benefit society, means a negative trend over a period of time, as determined in accordance with the trend test calculation included in the life risk-based capital instructions.Source   Laws 1993, LB 583, § 21;   Laws 1994, LB 978, § 36;  Laws 1999, LB 258, § 14;  Laws 2008, LB855, § 29;  Laws 2013, LB426, § 4.
NE Code § 44-6010 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-6010 - Risk-based capital instructions, defined.

44-6010.  Risk-based capital instructions, defined.Risk-based capital instructions means the risk-based capital report, including risk-based capital instructions adopted by the National Association of Insurance Commissioners, as such instructions may be amended by the association from time to time in accordance with the procedures adopted by the association.Source   Laws 1993, LB 583, § 22;  Laws 1999, LB 258, § 15.
NE Code § 44-6011 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-6011 - Risk-based capital level, defined.

44-6011.  Risk-based capital level, defined.Risk-based capital level means an insurer's or a health organization's company action level risk-based capital, regulatory action level risk-based capital, authorized control level risk-based capital, or mandatory control level risk-based capital. For purposes of this section:(1) Authorized control level risk-based capital means the number determined under the risk-based capital formula in accordance with the risk-based capital instructions;(2) Company action level risk-based capital means, with respect to any insurer or health organization, the product of 2.0 and its authorized control level risk-based capital;(3) Mandatory control level risk-based capital means the product of 0.7 and the authorized control level risk-based capital; and(4) Regulatory action level risk-based capital means the product of 1.5 and its authorized control level risk-based capital.Source   Laws 1993, LB 583, § 23;  Laws 1999, LB 258, § 16.
NE Code § 44-6012 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-6012 - Risk-based capital plan, defined.

44-6012.  Risk-based capital plan, defined.Risk-based capital plan means a comprehensive financial plan containing the elements specified in subsection (2) of section 44-6016. If the director rejects a plan and it is revised by the insurer or health organization, with or without the director's recommendation, the plan shall be called the revised risk-based capital plan.Source   Laws 1993, LB 583, § 24;  Laws 1999, LB 258, § 17.
NE Code § 44-6013 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-6013 - Risk-based capital report, defined.

44-6013.  Risk-based capital report, defined.Risk-based capital report means the report required in section 44-6015.Source   Laws 1993, LB 583, § 25;  Laws 1999, LB 258, § 18.
NE Code § 44-6014 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-6014 - Total adjusted capital, defined.

44-6014.  Total adjusted capital, defined.Total adjusted capital means the sum of:(1) An insurer's or a health organization's statutory capital and surplus as determined in accordance with the statutory accounting applicable to the annual financial statements required to be filed under sections 44-322, 44-32,134, 44-3823, and 44-4720; and(2) Such other items, if any, as the risk-based capital instructions may provide.Source   Laws 1993, LB 583, § 26;  Laws 1999, LB 258, § 19.
NE Code § 44-6019 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-6019 - Mandatory control level event.

44-6019.  Mandatory control level event.(1) Mandatory control level event means any of the following events:(a) The filing of a risk-based capital report which indicates that the insurer's or health organization's total adjusted capital is less than its mandatory control level risk-based capital;(b) The notification by the director to the insurer or health organization of an adjusted risk-based capital report that indicates the event described in subdivision (1)(a) of this section unless the insurer or health organization challenges the adjusted risk-based capital report under section 44-6020; or(c) If, pursuant to section 44-6020, the insurer or health organization challenges an adjusted risk-based capital report that indicates the event described in subdivision (1)(a) of this section, the notification by the director to the insurer or health organization that the director has, after a hearing, rejected the insurer's or health organization's challenge.(2) In the event of a mandatory control level event, the director shall take such actions as are necessary to place the insurer or health organization under regulatory control under the Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act or, in the case of a property and casualty insurer which is writing no business and which is running off its existing business, may allow the insurer to continue its run-off under the supervision of the director. In the event the director takes such actions, the mandatory control level event shall be deemed sufficient grounds for the director to take action under the act, and the director shall have the rights, powers, and duties with respect to the insurer or health organization as are set forth in the act. In the event the director takes actions under this subsection pursuant to an adjusted risk-based capital report, the insurer or health organization shall be entitled to such protections as are afforded to insurers or health organizations under the provisions of the act pertaining to summary proceedings. Notwithstanding the provisions of this subsection, the director may forego action for up to ninety days after the mandatory control level event if he or she finds there is a reasonable expectation that the mandatory control level event may be eliminated within the ninety-day period.Source   Laws 1993, LB 583, § 31;   Laws 1994, LB 978, § 41;  Laws 1999, LB 258, § 24.  Cross References  Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act, see section 44-4862.
NE Code § 44-6020 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-6020 - Hearings.

44-6020.  Hearings.Upon any of the following notifications, the insurer or health organization shall have the right to a hearing pursuant to the Administrative Procedure Act at which the insurer or health organization may challenge any determination or action by the director:(1) Notification to an insurer or a health organization by the director of an adjusted risk-based capital report;(2) Notification to an insurer or a health organization by the director that:(a) The insurer's or health organization's risk-based capital plan or revised risk-based capital plan is unsatisfactory; and(b) Such notification constitutes a regulatory action level event with respect to such insurer or health organization;(3) Notification to an insurer or a health organization by the director that the insurer or health organization has failed to adhere to its risk-based capital plan or revised risk-based capital plan and that such failure has a substantial adverse effect on the ability of the insurer or health organization to eliminate the company action level event with respect to the insurer or health organization in accordance with its risk-based capital plan or revised risk-based capital plan; or(4) Notification to an insurer or a health organization by the director of a corrective order with respect to the insurer or health organization.The insurer or health organization shall notify the director of its request for a hearing within five days after the notification by the director. Upon receipt of the insurer's or health organization's request for a hearing, the director shall set a date for the hearing, which date shall be no less than ten nor more than thirty days after the date of the insurer's or health organization's request.Source   Laws 1993, LB 583, § 32;  Laws 1999, LB 258, § 25.  Cross References  Administrative Procedure Act, see section 84-920.
NE Code § 44-6022 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-6022 - Supplemental provisions.

44-6022.  Supplemental provisions.(1) The provisions of the Insurers and Health Organizations Risk-Based Capital Act are supplemental to any other provisions of the laws of this state and shall not preclude or limit any other powers or duties of the director under such laws, including, but not limited to, the Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act.(2) The director may exempt from the application of the Insurers and Health Organizations Risk-Based Capital Act a domestic health organization which:(a)(i) Writes direct business only in this state;(ii) Assumes no reinsurance in excess of five percent of direct premium written; and(iii) Writes direct annual premiums for comprehensive medical business of two million dollars or less; or(b) Is a limited health service organization that covers fewer than two thousand lives.Source   Laws 1993, LB 583, § 34;   Laws 1994, LB 978, § 43;  Laws 1999, LB 258, § 27.  Cross References  Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act, see section 44-4862.
NE Code § 44-6023 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-6023 - Foreign insurers or foreign health organization.

44-6023.  Foreign insurers or foreign health organization.(1) Any foreign insurer or foreign health organization shall, upon the written request of the director, submit to the director a risk-based capital report as of the end of the calendar year just ended not later than the later of:(a) The date a risk-based capital report would be required to be filed by a domestic insurer or domestic health organization under section 44-6015; or(b) Fifteen days after the request is received by the foreign insurer or foreign health organization.Any foreign insurer or foreign health organization shall, at the written request of the director, promptly submit to the director a copy of any risk-based capital plan that is filed with the insurance commissioner of any other state.(2) In the event of a company action level event, a regulatory action level event, or an authorized control level event with respect to any foreign insurer or foreign health organization as determined under the risk-based capital law applicable in the state of domicile of the insurer or health organization or, if no risk-based capital law is in force in that state, under the Insurers and Health Organizations Risk-Based Capital Act, if the insurance commissioner of the state of domicile of the foreign insurer or foreign health organization fails to require the foreign insurer or foreign health organization to file a risk-based capital plan in the manner specified under the risk-based capital law applicable in the state of domicile of the insurer or health organization or, if no risk-based capital law is in force in the state of domicile of the insurer or health organization, under section 44-6016, the director may require the foreign insurer or foreign health organization to file a risk-based capital plan with the director. In such event, the failure of the foreign insurer or foreign health organization to file a risk-based capital plan with the director shall be grounds to order the insurer or health organization to cease and desist from writing new insurance business in this state.(3) In the event of a mandatory control level event with respect to any foreign insurer or foreign health organization, if no domiciliary receiver has been appointed with respect to the foreign insurer or foreign health organization under the rehabilitation and liquidation law applicable in the state of domicile of the foreign insurer or foreign health organization, the director may make application to the district court of Lancaster County under the Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act with respect to the liquidation of property of foreign insurers or foreign health organizations found in this state, and the occurrence of the mandatory control level event shall be considered adequate grounds for the application.Source   Laws 1993, LB 583, § 35;   Laws 1994, LB 978, § 44;  Laws 1999, LB 258, § 28.  Cross References  Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act, see section 44-4862.
NE Code § 44-6023.01 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-6023.01 - Immunity.

44-6023.01.  Immunity.There shall be no liability on the part of, and no cause of action shall arise against, the director, the Department of Insurance, or its employees or agents for any action taken by them in the performance of their powers and duties under the Insurers and Health Organizations Risk-Based Capital Act.Source   Laws 1994, LB 978, § 45;  Laws 1999, LB 258, § 29.
NE Code § 44-6024 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-6024 - Notices.

44-6024.  Notices.All notices by the director to an insurer or a health organization which may result in regulatory action under the Insurers and Health Organizations Risk-Based Capital Act shall be effective upon dispatch if transmitted by registered or certified mail or, in the case of any other transmission, shall be effective upon the insurer's or health organization's receipt of such notice.Source   Laws 1993, LB 583, § 36;   Laws 1994, LB 978, § 46;  Laws 1999, LB 258, § 30.
NE Code § 44-6025 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-6025 - Phase-in provision.

44-6025.  Phase-in provision.For risk-based capital reports required to be filed by health organizations with respect to 1999 only, the following requirements shall apply in lieu of the provisions of sections 44-6016 to 44-6019:(1) In the event of a company action level event with respect to a domestic health organization, the director shall take no regulatory action under the Insurers and Health Organizations Risk-Based Capital Act;(2) In the event of a regulatory action level event under subdivisions (1)(a) through (c) of section 44-6017, the director shall take the actions required under section 44-6016;(3) In the event of a regulatory action level event under subdivisions (1)(d) through (i) of section 44-6017 or an authorized control level event, the director shall take the actions required under section 44-6017 with respect to the health organization; and(4) In the event of a mandatory control level event with respect to a health organization, the director shall take the actions required under section 44-6018 with respect to the health organization.Source   Laws 1993, LB 583, § 37;   Laws 1994, LB 978, § 47;  Laws 1999, LB 258, § 31.
NE Code § 44-6026 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-6026 - Rules and regulations.

44-6026.  Rules and regulations.The director may adopt and promulgate rules and regulations to carry out the Insurers and Health Organizations Risk-Based Capital Act.Source   Laws 1993, LB 583, § 38;   Laws 1994, LB 978, § 48;  Laws 1999, LB 258, § 32.
NE Code § 44-6101 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-6101 - Act, how cited.

44-6101.  Act, how cited.Sections 44-6101 to 44-6121 shall be known and may be cited as the Insurers Demutualization Act.Source   Laws 1993, LB 583, § 41;   Laws 1997, LB 52, § 4.
NE Code § 44-6102 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-6102 - Legislative findings and declarations.

44-6102.  Legislative findings and declarations.The Legislature finds and declares that it is in the public interest that a domestic mutual insurer be permitted to convert to a stock insurer on terms and conditions that are fair and equitable to such mutual insurer's policyholders. The Legislature further finds that because it is not possible to anticipate all of the circumstances and considerations which may arise incident to a conversion from a mutual insurer to a stock insurer, the Director of Insurance should have broad authority in reviewing such conversion, and the procedures and criteria to be applied by the director should be flexible within the parameters of the Insurers Demutualization Act. The act shall be liberally construed to effect the legislative intent set forth in this section and shall not be interpreted to limit the powers granted to the director by other provisions of the law.Source  Laws 1993, LB 583, § 42.
NE Code § 44-6103 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-6103 - Terms, defined.

44-6103.  Terms, defined.For purposes of the Insurers Demutualization Act, the terms defined in section 44-103 shall have the same meanings as set forth in such section and:(1) Final order shall mean the final written order of the director approving or disapproving the conversion of a mutual insurer to a stock insurer; and(2) Policyholders shall mean the policyholders of the mutual insurer on the day the plan of conversion is initially approved by the board of directors of the mutual insurer.Source  Laws 1993, LB 583, § 43.
NE Code § 44-6104 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-6104 - Authority to convert.

44-6104.  Authority to convert.A domestic mutual insurer may amend its articles of incorporation pursuant to the Insurers Demutualization Act to become a stock insurer under a fair and equitable plan of conversion approved by the director.Source  Laws 1993, LB 583, § 44.
NE Code § 44-6105 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-6105 - Application; fee.

44-6105.  Application; fee.A domestic mutual insurer may convert to a stock insurer by meeting the requirements of the Insurers Demutualization Act. The mutual insurer shall file an application to convert to a stock insurer with the director. The application shall be accompanied by a nonrefundable application fee of one thousand dollars. The application shall include the following at a minimum:(1) A plan of conversion containing a description of the structure and form of the proposed consideration to the policyholders, the projected range of the number of shares of capital stock to be issued by the new stock insurer or the holding company of such insurer, whether to policyholders, to be sold or reserved for sale to investors by the new stock insurer or the holding company of such insurer, or to a trust established for the exclusive benefit of policyholders for the purpose of effecting the conversion into which shares of the capital stock of the new stock insurer or the holding company of such insurer are placed pending distribution to the policyholders, and such other proposed conditions and provisions as determined by the mutual insurer not to be inconsistent with the act;(2) A certification that the plan of conversion has been duly adopted by a vote of not less than two-thirds of the members of the board of directors of the mutual insurer;(3) A certification adopted by not less than two-thirds of the members of the board of directors of the mutual insurer that the plan of conversion is fair and equitable to the policyholders;(4) Certified copies of the proposed amendments to the articles of incorporation and bylaws to effectuate the conversion;(5) A form of the proposed notice to be mailed by the mutual insurer to its policyholders as required in section 44-6109; and(6) Any other additional information as the director may reasonably request.Source   Laws 1993, LB 583, § 45;  Laws 1999, LB 326, § 6.
NE Code § 44-6106 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-6106 - Consideration.

44-6106.  Consideration.The plan of conversion required by section 44-6105 shall specify the consideration to the policyholders entitled thereto, which consideration may be in cash, stock, a combination thereof, or such other valuable consideration as the director may approve. The plan of conversion may, subject to the approval of the director, provide that all or any portion of the consideration distributable to policyholders may be held in a trust, the terms of which are subject to the approval of the director, established by the mutual insurer for a period not greater than three years, which period may be extended beyond three years for additional annual periods not to exceed five years in the aggregate, with the approval of the director, pursuant to and subject to limitations set forth in the plan of conversion. Unless otherwise ordered by the director and notwithstanding any provisions of law to the contrary, policyholders are not required to be given preemptive rights.Source   Laws 1993, LB 583, § 46;  Laws 1999, LB 326, § 7.
NE Code § 44-6107 (2021)
2021 Nebraska Revised Statutes|Chapter 44 - Insurance|44-6107 - Public hearing.

44-6107.  Public hearing.The director shall conduct a public hearing within one hundred and twenty days after the date the application is filed pursuant to section 44-6105 unless extended by the director for good cause. Any interested person may appear or otherwise be heard at the public hearing. The director may in his or her discretion continue the public hearing for a reasonable period of time not to exceed sixty days. The mutual insurer applying to convert to a stock insurer shall give such reasonable notice of the public hearing as the director in his or her discretion shall require.Source   Laws 1993, LB 583, § 47;   Laws 1997, LB 52, § 5.