reglab/statecodes huggingface dataset:
2023 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.
2023 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.
2023 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.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2215 - Statement to holder of variable annuity contracts; contents.

44-2215.
Statement to holder of variable annuity contracts; contents.
A company shall mail to the holder of its variable annuity contracts at least once in each year after the first, at his last-known address, a statement reporting:
(1) The number of units credited to such contract and the dollar value of a unit as of a date not more than two months previous to the date of mailing; and
(2) The investments held in the variable annuity account.
Such statement shall be mailed not more than two months prior to the annual meeting electing the governing board of the separate account when an election of a governing board of a separate account is required.
Source
Laws 1969, c. 358, § 15, p. 1265.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2216 - Agents; license required.

44-2216.
Agents; license required.
All individuals selling individual variable annuities must be licensed to write variable contracts in this state under the Insurance Producers Licensing Act.
Source
Laws 1969, c. 358, § 16, p. 1265;
Laws 1995, LB 162, § 5.
Cross References
Insurance Producers Licensing Act, see section 44-4047.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2217 - Officer, director, trustee; general provisions.

44-2217.
Officer, director, trustee; general provisions.
(1) No person while serving as an elected or appointed officer, director, or trustee of a company licensed pursuant to sections 44-2201 to 44-2221, nor any person serving on the board of managers, trustees, or directors of a separate account of such company shall receive either directly or indirectly any commission or other form of compensation which is related to the purchase or disposal of assets of such a company or of any of its separate accounts.
(2) Where the statutes or regulations of the place of domicile of a licensed company or applicant prevent compliance with the provisions of sections 44-2201 to 44-2221 and the regulations promulgated thereunder, such company shall advise the director in writing. If the statutes or regulations of the place of domicile provide a degree of protection to the contract holder and the public which is substantially equal to that protection provided by sections 44-2201 to 44-2221 and the regulations thereunder, the director may consider this as compliance with sections 44-2201 to 44-2221.
Source
Laws 1969, c. 358, § 17, p. 1265.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2218 - Certificate of authority; suspend, revoke, refuse to renew; conditions.

44-2218.
Certificate of authority; suspend, revoke, refuse to renew; conditions.
The Director of Insurance may issue an order suspending, revoking or refusing to renew the certificate of authority of any company to issue variable annuities in this state if he finds that any of the following conditions exist:
(1) Any cause for which the issuance of a certificate of authority could have been refused had it existed and been known to the director at the time the license was originally issued;
(2) The company has violated or committed acts contrary to the provisions of Chapter 44;
(3) The company has obtained or attempted to obtain such license through willful misrepresentation or fraud;
(4) The company's authority to do a life insurance business or variable annuity business has been suspended, denied, or revoked in any other state; or
(5) The company has shown itself to be untrustworthy or incompetent.
Source
Laws 1969, c. 358, § 18, p. 1266.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2219 - Certificate of authority; suspend, deny, revoke, refuse to renew; notice; hearing.

44-2219.
Certificate of authority; suspend, deny, revoke, refuse to renew; notice; hearing.
Upon the entry of an order suspending, denying, revoking, or refusing to renew a company's certificate of authority to issue variable annuities in this state, the Director of Insurance shall promptly notify the company, by registered or certified mail, that the order has been entered and the reasons therefor and that within fifteen days after the receipt of a written request the matter will be set down for hearing. If no hearing is requested within fifteen days and none is ordered by the director, the director shall enter his or her written findings of fact and conclusions of law and the order will remain in effect until it is modified or vacated by the director. If a hearing is requested or ordered, it shall be held pursuant to the Administrative Procedure Act.
Source
Laws 1969, c. 358, § 19, p. 1266;
Laws 1989, LB 92, § 196.
Cross References
Administrative Procedure Act, see section 84-920.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2220 - Rules and regulations.

44-2220.
Rules and regulations.
The Director of Insurance shall have the authority to adopt and promulgate rules and regulations as are reasonable, necessary, and appropriate for the effective administration of sections 44-2201 to 44-2221. Such rules and regulations may include, but shall not be limited to, (1) qualifications to issue variable annuities, (2) requirements as to advertising, sales promotion, and contract provisions, (3) accounting, (4) the filing of contracts and certificates, and (5) the licensing of annuity agents.
Source
Laws 1969, c. 358, § 20, p. 1267;
Laws 1989, LB 92, § 197.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2221 - Laws applicable.

44-2221.
Laws applicable.
A company licensed to issue variable annuities in this state shall be subject to all of the provisions of Chapter 44, relating to a company authorized to do a life insurance business in this state, which are not inconsistent with sections 44-2201 to 44-2221.
Source
Laws 1969, c. 358, § 21, p. 1267.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2301 - Hearings; authorized; powers of director.

44-2301.
Hearings; authorized; powers of director.
In addition to examinations expressly authorized under Chapter 44, the Director of Insurance may hold hearings to procure information helpful in the lawful administration of any of the provisions of such chapter. For the purpose of holding a hearing and the production of documents and attendance of witnesses, the director shall have the power to appoint one or more special employees as his assistant or assistants, and to employ such counsels and clerks as may be deemed necessary and give each such person such powers to assist the department as the director may consider proper.
Source
Laws 1969, c. 357, § 1, p. 1254;
Laws 1971, LB 891, § 1.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2312 - Hearings, appeals; law governing.

44-2312.
Hearings, appeals; law governing.
Hearings and appeals in contested cases under the provisions of Chapter 44 as the same now provide or may hereafter from time to time be amended shall be in accordance with the Administrative Procedure Act.
Source
Laws 1971, LB 891, § 2;
Laws 1988, LB 352, § 63.
Cross References
Administrative Procedure Act, see section 84-920.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2401 - Purpose of act.

44-2401.
Purpose of act.
The purpose of the Nebraska Property and Liability Insurance Guaranty Association Act is to provide a method for the payment of certain claims against insolvent insurance companies, as defined in the act, to avoid unnecessary delay in payment of such claims, to avoid financial loss to claimants or to policyholders, to assist in the detection and prevention of insurer insolvencies, and to provide an association of insurers against which the cost of such protection may be assessed in an equitable manner.
Source
Laws 1971, LB 722, § 1;
Laws 2019, LB380, § 1.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2402 - Kinds of insurance covered.

44-2402.
Kinds of insurance covered.
The Nebraska Property and Liability Insurance Guaranty Association Act shall apply to all kinds of direct insurance except ocean marine, motor vehicle service contract reimbursement, and those lines of insurance specified in subdivisions (1) through (4), (13) through (17), (19), and (20) of section 44-201.
Source
Laws 1971, LB 722, § 2;
Laws 1989, LB 92, § 198;
Laws 1990, LB 1136, § 99.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2404 - Nebraska Property and Liability Insurance Guaranty Association; legal entity; members; functions.

44-2404.
Nebraska Property and Liability Insurance Guaranty Association; legal entity; members; functions.
There is hereby created a nonprofit unincorporated legal entity to be known as the Nebraska Property and Liability Insurance Guaranty Association. All insurers defined as member insurers in subdivision (6) of section 44-2403 shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association shall perform its functions under a plan of operation established and approved pursuant to section 44-2408 and shall exercise its powers through a board of directors established by section 44-2405. For purposes of administration and assessment, the association shall be divided into three separate accounts: (a) The workers' compensation insurance account; (b) the automobile insurance account; and (c) the account for all other insurance to which the Nebraska Property and Liability Insurance Guaranty Association Act applies.
Source
Laws 1971, LB 722, § 4;
Laws 1974, LB 1014, § 2;
Laws 1986, LB 811, § 22.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2405 - Association; board of directors; members; number; selection; qualifications; expenses.

44-2405.
Association; board of directors; members; number; selection; qualifications; expenses.
(1) The board of directors of the association shall consist of seven persons serving terms as established in the plan of operation. The members of the board shall be selected by member insurers subject to the approval of the director. At least four members of the board shall represent domestic insurers. Vacancies on the board shall be filled for the remaining period of the term in the same manner as initial appointments. If no members are selected within sixty days after May 26, 1971, the director may appoint the initial members of the board of directors.
(2) Subject to the limitations in subsection (1) of this section, the director shall, in approving selections to the board, consider among other things whether all member insurers are fairly represented.
(3) Members of the board may be reimbursed from the assets of the association for expenses incurred by them as members of the board of directors as provided in sections 81-1174 to 81-1177 for state employees.
Source
Laws 1971, LB 722, § 5;
Laws 1981, LB 204, § 71.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2408 - Association; plan of operation; amendments; submit to director.

44-2408.
Association; plan of operation; amendments; submit to director.
(1)(a) The association shall submit to the director a plan of operation and any amendments thereto necessary or suitable to assure the fair, reasonable, and equitable administration of the affairs of the association. The plan of operation and any amendments thereto shall become effective upon approval in writing by the director.
(b) If the association fails to submit suitable amendments to the plan, the director shall, after allowing the association the opportunity to present its views, adopt and promulgate reasonable rules and regulations as are necessary and advisable to effectuate the Nebraska Property and Liability Insurance Guaranty Association Act. Such rules and regulations shall continue in force until modified by the director or superseded by a plan submitted by the association and approved by the director.
(2) All member insurers shall comply with the plan of operation.
(3) The plan of operation shall:
(a) Establish the procedures whereby all the powers and duties of the association under the act will be performed;
(b) Establish procedures for handling the assets of the association;
(c) Establish the amount and method of reimbursing members of the board of directors under section 44-2405;
(d) Establish procedures by which claims may be filed with the association and establish acceptable forms of proof of covered claims;
(e) Establish regular places and times for meetings of the board of directors;
(f) Establish procedures for records to be kept of all financial transactions of the association, its agents, and the board of directors;
(g) Provide that any member insurer aggrieved by any final action or decision of the association may appeal to the director within sixty days after the action or decision;
(h) Establish the procedures whereby selection of the board of directors will be submitted to the director for approval; and
(i) Contain additional provisions necessary or proper for the execution of the powers and duties of the association.
(4) The plan of operation may provide that any or all powers and duties of the association are delegated to a corporation, association, or other organization which performs, or will perform, functions similar to those of the association, or its equivalent, in two or more states. Such corporation, association, or organization shall be reimbursed as a servicing facility would be reimbursed and shall be paid for its performance of any other functions of the association. A delegation under this subsection shall take effect only with the approval of both the board of directors and the director and may be made only to a corporation, association, or organization which extends protection not substantially less favorable and effective than that provided by the act.
Source
Laws 1971, LB 722, § 8;
Laws 1989, LB 92, § 200.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2409 - Director; duties.

44-2409.
Director; duties.
(1) The director shall:
(a) Notify the association of the existence of any insolvent insurer not later than three days after he or she receives notice of the determination of the insolvency and order of liquidation pursuant to the Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act; and
(b) Upon request of the board of directors of the association, provide the association with a statement of the net direct written premiums of each member insurer.
(2) The director may:
(a) Suspend or revoke, after notice and hearing, the certificate of authority to transact insurance in this state of any member insurer that fails to pay an assessment when due, unless such payment was deferred by the association in the manner provided in the Nebraska Property and Liability Insurance Guaranty Association Act, or fails to comply with the plan of operation; and
(b) Revoke the designation of any servicing facility if he or she finds the claims are not being handled in good faith. Designation of a new servicing facility shall be accomplished in the manner set out in subdivision (1)(b) of section 44-2407.
Source
Laws 1971, LB 722, § 9;
Laws 1989, LB 319, § 73;
Laws 2019, LB380, § 5.
Cross References
Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act, see section 44-4862.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2410 - Assignment of rights; notice of claims; settlement; effect; statement of claims; file with director.

44-2410.
Assignment of rights; notice of claims; settlement; effect; statement of claims; file with director.
(1) Any person recovering under the Nebraska Property and Liability Insurance Guaranty Association Act shall be deemed to have assigned his or her rights under the policy to the association to the extent of such recovery from the association. Every insured or claimant seeking recovery under the act shall be required to cooperate with the association to the same extent he or she would have been required to cooperate with the insolvent insurer.
(2) Notice of claims to the liquidator or receiver of the insolvent member insurer shall be deemed notice to the association or its agent, and a list of covered claims shall be periodically submitted to the association or similar organization in another state by the receiver or liquidator.
(3) The receiver, liquidator, or statutory successor of an insolvent member insurer shall be bound by settlements of covered claims by the association or a similar organization in another state.
(4) The association shall periodically file with the director statements of covered claims paid by the association and estimates of anticipated claims against the association.
Source
Laws 1971, LB 722, § 10;
Laws 1977, LB 366, § 8;
Laws 2019, LB380, § 6.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2411 - Exhaustion of remedies.

44-2411.
Exhaustion of remedies.
(1) Any person having a claim against any insurer under any provisions of any insurance policy, which claim is also a covered claim against an insolvent insurer under the Nebraska Property and Liability Insurance Guaranty Association Act, shall be required to exhaust all rights under such policy before the association is obligated to pay the covered claim under such act. Any amount payable on a covered claim by the provisions of such act shall be reduced by the amount of such recovery under any other insurance policy.
(2) Any person having a claim which may be recovered under more than one insurance guaranty association, or its equivalent, shall seek recovery first from the association of the place of residence of the insured, except that if it is a first-party claim for damage to property with a permanent location, from the association of the location of the property, and if it is a workers' compensation claim, from the association of the residence of the claimant. Any recovery pursuant to the Nebraska Property and Liability Insurance Guaranty Association Act shall be reduced by the amount of the recovery from any other insurance guaranty association or its equivalent.
Source
Laws 1971, LB 722, § 11;
Laws 1986, LB 811, § 24;
Laws 2019, LB380, § 7.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2412 - Board of directors; director; duties.

44-2412.
Board of directors; director; duties.
To aid in the detection and prevention of insurer insolvencies:
(1) It shall be the duty of the board of directors, upon majority vote, to notify the director of any information indicating that any member insurer may be insolvent or in a financial condition hazardous to the policyholders or the public;
(2) The board of directors may, upon majority vote, request that the director order an examination of any member insurer which the board in good faith believes may be in a financial condition hazardous to the policyholders or the public. Within thirty days of the receipt of such request, the director shall begin such examination. The examination may be conducted as a National Association of Insurance Commissioners examination or may be conducted by such qualified persons as the director designates. The cost of such examination shall be paid by the association and the examination report shall be treated as are other examination reports. The director shall notify the board of directors when the examination is completed. The request for an examination shall be kept on file by the director but it shall not be open to public inspection prior to the release of the examination report to the public;
(3) It shall be the duty of the director to report to the board of directors when he has reasonable cause to believe that any member insurer examined or being examined may be insolvent or in a financial condition hazardous to the policyholders or the public. Such report to the board of directors shall not be considered a release to the public under applicable insurer examination statutes;
(4) The board of directors may, upon majority vote, make reports and recommendations to the director upon any matter germane to the solvency, liquidation, rehabilitation or conservation of any member insurer. Such reports and recommendations shall not be considered public documents;
(5) The board of directors may, upon majority vote, make recommendations to the director for the detection and prevention of insurer insolvencies; and
(6) The board of directors shall, at the conclusion of any insurer insolvency in which the association was obligated to pay covered claims, prepare a report on the history and causes of such insolvency, based on the information available to the association, and submit such report to the director.
Source
Laws 1971, LB 722, § 12.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2413 - Association; director; examine; regulate; financial report; furnish.

44-2413.
Association; director; examine; regulate; financial report; furnish.
The association shall be subject to examination and regulation by the director. Any such examination conducted pursuant to the provisions of this section shall be paid for by the association. The board of directors shall submit to the director, not later than March 30 of each year, a financial report for the preceding calendar year in a form approved by the director.
Source
Laws 1971, LB 722, § 13.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2415 - Exemption from liability.

44-2415.
Exemption from liability.
There shall be no liability on the part of, and no cause of action of any nature shall rise against, any member insurer, the association or its agents or employees, the board of directors of the association, any servicing facility designated by the association in accordance with the Nebraska Property and Liability Insurance Guaranty Association Act or the agents or employees or officers of such servicing facility, or the director or his or her representatives for any action taken by them in the performance of their powers and duties under the act.
Source
Laws 1971, LB 722, § 15;
Laws 2019, LB380, § 8.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2417 - Assessments made by insurance guaranty associations of other states; not considered taxes, fees, licenses, obligations, prohibitions, or restrictions.

44-2417.
Assessments made by insurance guaranty associations of other states; not considered taxes, fees, licenses, obligations, prohibitions, or restrictions.
Assessments made by the insurance guaranty associations, or similar entities, pursuant to the laws of any other state shall not be considered taxes, licenses, other fees, other material obligations, prohibitions, or restrictions as those terms are defined in section 44-150.
Source
Laws 1971, LB 722, § 17.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2418 - Act, how cited.

44-2418.
Act, how cited.
Sections 44-2401 to 44-2419 shall be known and may be cited as the Nebraska Property and Liability Insurance Guaranty Association Act.
Source
Laws 1971, LB 722, § 18;
Laws 1974, LB 1014, § 3;
Laws 2019, LB380, § 9.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2419 - Order of liquidation; stay.

44-2419.
Order of liquidation; stay.
All proceedings arising out of a claim under a policy of insurance written by an insolvent insurer shall be stayed for one hundred twenty days from the date of entry of the order of liquidation to permit proper defense by the association of all such pending causes of action. Nothing in this section shall be deemed to limit the powers of a receiver appointed pursuant to the Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act or to stay any proceeding brought pursuant to such act.
Source
Laws 2019, LB380, § 10.
Cross References
Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act, see section 44-4862.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2501 - Domestic insurer; prohibited acts.

44-2501.
Domestic insurer; prohibited acts.
No domestic insurer shall enter into any contract of insurance upon the life or person of a resident of a reciprocal state, or covering property or risks located in a reciprocal state, unless the insurer is authorized pursuant to the laws of such reciprocal state to do business therein, except that a domestic insurer may:
(a) Enter into a contract when the prospective insured is personally present in the state in which the insurer is authorized to do business when he signs the application;
(b) Issue a certificate under any lawfully transacted group life or group disability policy, when the master policy is entered into in a state in which the insurer is authorized to do business;
(c) Make a contract pursuant to a pension or retirement plan of an employer when such contract is applied for in a state where the employer is personally present or doing business and the insurer is authorized to do business; and
(d) Renew, reinstate, convert, or continue in force, with or without modification, any contract otherwise lawfully entered into and which was not originally entered into in violation of this section.
Source
Laws 1973, LB 425, § 1.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2502 - Reciprocal state, defined.

44-2502.
Reciprocal state, defined.
For purposes of sections 44-2501 to 44-2504, reciprocal state shall mean any state the laws of which impose substantially similar restrictions upon an insurer organized under the laws of that state as are imposed upon domestic insurers by section 44-2501.
Source
Laws 1973, LB 425, § 2;
Laws 1989, LB 92, § 201.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2503 - Department; reciprocal states; listing.

44-2503.
Department; reciprocal states; listing.
The department shall make available to any domestic insurer upon request a listing specifying the several reciprocal states.
Source
Laws 1973, LB 425, § 3;
Laws 1989, LB 92, § 202.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2504 - Unauthorized act; violation; penalty.

44-2504.
Unauthorized act; violation; penalty.
Any domestic insurer who transacts any unauthorized act of insurance business as regulated by sections 44-2501 to 44-2504 shall be guilty of a misdemeanor and shall, upon conviction thereof, be fined not more than ten thousand dollars.
Source
Laws 1973, LB 425, § 4.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2606 - Definitions; where found.

44-2606.
Definitions; where found.
For the purpose of sections 44-2606 to 44-2635, unless the context otherwise requires, the definitions found in sections 44-2607 to 44-2613 shall be used.
Source
Laws 1980, LB 481, § 1;
Laws 1989, LB 92, § 203.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2607 - Insurance consultant, defined.

44-2607.
Insurance consultant, defined.
Insurance consultant shall mean any person who, for a fee, engages in the business of offering to the public any advice, counsel, opinion, or service with respect to insurable risks, or concerning the benefits, coverages, or provisions under any policy of insurance that could be issued in this state, or involving the advantages or disadvantages of any such policy of insurance, or any formal plan of managing pure risk. Insurance consultant does not include a public adjuster licensed under the Public Adjusters Licensing Act.
Source
Laws 1980, LB 481, § 2;
Laws 2018, LB743, § 20.
Cross References
Public Adjusters Licensing Act, see section 44-9201.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2614 - Insurance consultant; acts requiring licensure.

44-2614.
Insurance consultant; acts requiring licensure.
No person shall, in or on advertisements, cards, signs, circulars, letterheads, or elsewhere or in any other manner by which public announcements are made, use the title insurance consultant or any similar title or any title, word, combination of words, or abbreviation indicating that he or she gives or is engaged in the business of offering to the public any advice, counsel, opinion, or service with respect to insurable risks, concerning the benefits, coverages, or provisions under any policy of insurance that could be issued in this state, or involving the advantages or disadvantages of any such policy of insurance, unless such person holds a license as an insurance consultant under sections 44-2606 to 44-2635.
Source
Laws 1980, LB 481, § 9;
Laws 1989, LB 92, § 205;
Laws 2018, LB743, § 21.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2615 - Insurance consultant; license; violation; penalty.

44-2615.
Insurance consultant; license; violation; penalty.
No person shall act as an insurance consultant until he or she has been licensed as provided by sections 44-2606 to 44-2635. Any person violating this section shall be guilty of a Class IV misdemeanor.
Source
Laws 1980, LB 481, § 10;
Laws 1989, LB 92, § 206.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2616 - Person; not acting as insurance consultant; when.

44-2616.
Person; not acting as insurance consultant; when.
A person shall not be deemed to be acting as an insurance consultant under any of the following circumstances:
(1) If a licensed agent gives advice incidental to the normal course of the agent's insurance business and does not charge a fee other than commissions received from insurance written;
(2) If any attorney, actuary, certified public accountant, teacher of insurance, or trust officer of a bank consults during the normal course of his or her usual business, and only incidental to such business; or
(3) If a person employed as a risk manager consults during the normal course of his or her full-time employment to the company by which such person is employed.
Source
Laws 1980, LB 481, § 11.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2617 - Corporation, partnership, or limited liability company; licensed as insurance consultant; requirements.

44-2617.
Corporation, partnership, or limited liability company; licensed as insurance consultant; requirements.
Any corporation, partnership, or limited liability company engaged in the business of insurance consulting may become licensed as an insurance consultant. No license shall be granted to a corporation, partnership, or limited liability company unless the corporation, partnership, or limited liability company designates a licensed consultant who shall have full responsibility for all insurance consulting transactions of the corporation, partnership, or limited liability company within the state. Such designated consultant shall be an officer of the corporation or a member of the partnership or limited liability company and shall have a substantial interest in or be an active participant in the management of the corporation, partnership, or limited liability company. If a corporation, partnership, or limited liability company has more than one office, it shall designate a consultant for each office. In the event a designated consultant of a licensed corporation, partnership, or limited liability company shall either leave the corporation, partnership, or limited liability company or have his or her license revoked, the corporation, partnership, or limited liability company shall have sixty days after such revocation in which to designate another qualified licensed consultant, or have its license revoked. Any individual associated with a licensed corporation, partnership, or limited liability company who acts as an insurance consultant shall be a licensed consultant.
Source
Laws 1980, LB 481, § 12;
Laws 1993, LB 121, § 241.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2618 - Nonresident consultant; rights and privileges.

44-2618.
Nonresident consultant; rights and privileges.
A nonresident applicant may qualify for a license under sections 44-2606 to 44-2635 as a nonresident consultant. A license issued to a nonresident shall grant the same rights and privileges offered a resident licensee, except that whenever, by the laws, rules, or regulations of any other state or jurisdiction, any limitation of rights and privileges, conditions precedent, or other requirements are imposed upon residents of Nebraska who are nonresident applicants or licensees of such other state or jurisdiction in addition to or in excess of those imposed on nonresidents under sections 44-2606 to 44-2635, the same requirements shall be imposed upon the residents of such other state or jurisdiction.
Source
Laws 1980, LB 481, § 13;
Laws 1989, LB 92, § 207.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2619 - Nonresident consultant; applicant; examination.

44-2619.
Nonresident consultant; applicant; examination.
Any nonresident applicant whose resident state does not license insurance consultants may qualify for a license as a nonresident consultant in this state only upon examination, except as provided in section 44-2625.
Source
Laws 1980, LB 481, § 14.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2620 - Nonresident consultant; personal jurisdiction.

44-2620.
Nonresident consultant; personal jurisdiction.
Obtaining a nonresident license shall constitute sufficient contact with this state for the exercise of personal jurisdiction over such a person in any action, suit, or proceeding instituted by or on behalf of any interested person arising out of the applicant's consulting business in Nebraska.
Source
Laws 1980, LB 481, § 15;
Laws 1983, LB 447, § 66.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2621 - Insurance consultant's license; type; fee; qualifications.

44-2621.
Insurance consultant's license; type; fee; qualifications.
Every individual applicant for a license under sections 44-2606 to 44-2635 shall have attained the age of majority, shall be competent, trustworthy, financially responsible, and of good personal and business reputation, and shall have been licensed as an agent, broker, or consultant in this state or another state for the three years immediately preceding the date of application or have successfully completed a specific program of study which has a broad national or regional recognition as determined by the director. Application shall be made to the director on forms prescribed by the director and shall be accompanied by a license fee as established by the director not to exceed one hundred dollars for each resident individual license, not to exceed one hundred fifty dollars for each nonresident individual license, not to exceed one hundred fifty dollars for each resident corporate, partnership, or limited liability company license, and not to exceed one hundred fifty dollars for each nonresident corporate, partnership, or limited liability company license. If the applicant is an individual, the application shall include the applicant's social security number. The director may issue an insurance consultant's license in two areas: Property and casualty insurance; and life, health, and annuities. A person may become licensed in either one or both of such areas.
Source
Laws 1980, LB 481, § 16;
Laws 1989, LB 92, § 208;
Laws 1993, LB 121, § 242;
Laws 1993, LB 583, § 86;
Laws 1997, LB 752, § 111.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2622 - Insurance consultant's license; examination.

44-2622.
Insurance consultant's license; examination.
All individual applicants for licensure under sections 44-2606 to 44-2635 shall be examined by the director in such manner and form as the director prescribes. The applicant shall pass the examination with a grade determined by the director to indicate satisfactory knowledge and understanding of the area of insurance for which the applicant seeks qualification as a consultant.
Source
Laws 1980, LB 481, § 17;
Laws 1989, LB 92, § 209.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2623 - Insurance consultant's license; examination; reexamination; fee.

44-2623.
Insurance consultant's license; examination; reexamination; fee.
An applicant for a license under sections 44-2606 to 44-2635 shall pay or cause to be paid an examination fee as established by the director in advance of such examination. The fee shall not exceed one hundred dollars and shall cover all of the examinations given to the applicant at the same time and place. The fee shall not be refunded to the applicant. Examination fees collected under sections 44-2606 to 44-2635 shall be remitted to the State Treasurer for credit to the Department of Insurance Cash Fund unless the director contracts with an independent testing organization, in which case the applicant shall pay the examination fee directly to such independent testing organization and the fee shall be the amount charged by the testing organization.
Source
Laws 1980, LB 481, § 18;
Laws 1989, LB 92, § 210.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2624 - Insurance consultant; reexamination; when.

44-2624.
Insurance consultant; reexamination; when.
The director may require a consultant, after notice and hearing and a finding that the consultant lacks competency, to submit to reexamination if the director has reason to believe that the consultant lacks competence.
Source
Laws 1980, LB 481, § 19.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2625 - Nonresident applicant; reciprocity.

44-2625.
Nonresident applicant; reciprocity.
The director may exempt from examination any nonresident applicant whose resident state or province has examination standards substantially the same as those of Nebraska, if such state or province has been recognized by the director by reciprocal arrangement. The director may accept, in lieu of examination of such nonresident, a certificate of the director or commissioner of the other state or province to the effect that the applicant is licensed in the state or province in a capacity similar to that for which a license is sought in this state. In instances when a reciprocal agreement has not been reached, the director shall require an examination.
Source
Laws 1980, LB 481, § 20.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2626 - Insurance consultant's license; denial; when.

44-2626.
Insurance consultant's license; denial; when.
The director may refuse to issue a consultant's license to an applicant if such applicant has failed to comply with any prerequisite for the issuance of such license, has made a material misstatement in the application for license, or has demonstrated untrustworthiness, financial irresponsibility, or incompetency.
Source
Laws 1980, LB 481, § 21.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2627 - Insurance consultant's license; contents; expiration; reissuance.

44-2627.
Insurance consultant's license; contents; expiration; reissuance.
(1) The license shall state the name and resident address of the licensee, date of issuance, whether the licensee is qualified to consult in property and casualty, life, health, and annuities, and such other information as the director considers proper.
(2) All corporate, partnership, and limited liability company licenses shall expire on June 30 of each year, and all individual licenses shall expire on the last day of the month of the licensee's birthday in the first year after issuance in which his or her age is divisible by two and such individual licenses may be reissued within the ninety-day period before their expiration dates and all individual licenses also may be reissued within the thirty-day period after their expiration dates upon payment of a late reissuance fee as established by the director not to exceed one hundred twenty-five dollars in addition to the applicable fee otherwise required for reissuance of individual licenses as established by the director pursuant to section 44-2621. All individual licenses reissued within the thirty-day period after their expiration dates pursuant to this subsection shall be deemed to have been reissued before their expiration dates. The department shall establish procedures for the reissuance of licenses.
(3) Every licensed consultant shall notify the department within thirty days of any change in his or her residential or business address.
Source
Laws 1980, LB 481, § 22;
Laws 1989, LB 92, § 211;
Laws 1993, LB 121, § 243;
Laws 1993, LB 583, § 87;
Laws 1999, LB 260, § 2.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2628 - Insurance consultant's license; fee.

44-2628.
Insurance consultant's license; fee.
A person holding a license issued under sections 44-2606 to 44-2635 shall pay to the department the required license fee as prescribed by section 44-2621. The department shall not issue a license to any person who fails to pay the required license fee when it becomes due except as otherwise provided in subsection (2) of section 44-2627.
Source
Laws 1980, LB 481, § 23;
Laws 1989, LB 92, § 212;
Laws 1999, LB 260, § 3.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2629 - Insurance consultant; obligation.

44-2629.
Insurance consultant; obligation.
A consultant is obligated, under his or her license, to serve with objectivity and complete loyalty the interests of his or her client and to render his or her client such information, counsel, and service as within the knowledge, understanding, and opinion, in good faith of the licensee, best serves the client's insurance needs and interest.
Source
Laws 1980, LB 481, § 24.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2630 - Insurance consultant; contract or agreement; conditions.

44-2630.
Insurance consultant; contract or agreement; conditions.
No contract or agreement with an insurance consultant shall be enforceable by such consultant unless it is in writing and executed in duplicate by the person to be charged or by the authorized representative of such person. The agreement shall define the subject matter of the consulting services, outline the nature of the work to be performed by the consultant, and state the fee for the work. The consultant shall retain a copy of the agreement for not less than five years after completion of the services.
Source
Laws 1980, LB 481, § 25;
Laws 1981, LB 57, § 1.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2631 - Insurance consultant; commission or compensation; receipt; unlawful; when.

44-2631.
Insurance consultant; commission or compensation; receipt; unlawful; when.
It shall be unlawful for any consultant, or any agency or sales organization with which he or she is connected, to receive any part of any commission or compensation paid by an insurer or agent of an insurer in connection with the sale or writing of any insurance which is within the subject matter of any consulting service performed prior to the sale of insurance and for which such consultant has contracted to receive a fee. For purposes of this section, a renewal of insurance shall not be considered a sale of insurance.
Source
Laws 1980, LB 481, § 26;
Laws 1981, LB 57, § 2.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2632 - Insurance consultant; contract; department approval; procedure.

44-2632.
Insurance consultant; contract; department approval; procedure.
If a consultant is required to obtain approval of a contract by the department, such consultant shall complete and mail to the department a copy of the contract, attached to a departmental form, specifying the nature of the work to be performed, the fee arrangement, and an explanation of the necessity for charging a consulting fee. The director may refuse to approve any contract if the potential conflict of interest outweighs any benefit received by the client. If disapproval is not received by the consultant within ten days, the contract shall be considered approved.
Source
Laws 1980, LB 481, § 27.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2633 - Insurance consultant's license; revoked; suspended; placed on probation; grounds.

44-2633.
Insurance consultant's license; revoked; suspended; placed on probation; grounds.
The director may revoke, suspend, or place on probation, for such period as he or she may determine, the license of any consultant if, after notice and hearing, he or she determines that the licensee has:
(1) Violated any of the provisions of sections 44-2606 to 44-2635, any insurance laws, or any lawful rule, regulation, or order of the director or of a director or commissioner of another state or province;
(2) Recommended the purchase of insurance, annuities, or securities from any authorized insurer in which the consultant or any member of his or her immediate family holds an executive position or holds a substantial interest;
(3) Received compensation in any form from any agency or other insurance organization for recommending such agency or organization to the consultant's client;
(4) Knowingly and willfully misrepresented the terms of any actual or proposed insurance contract;
(5) Been found guilty of any unfair trade practice or of fraud;
(6) Been convicted of any felony, or convicted of a Class I, II, or III misdemeanor evidencing that such licensee is not worthy of the public trust;
(7) Had a consultant's license suspended, revoked, or placed on probation in any other state;
(8) Failed to submit to a reexamination for competence or failed to pass such examination;
(9) Demonstrated incompetency, untrustworthiness, or failure to comply with the provisions of his or her insurance consultant's contract; or
(10) Obtained the license through misrepresentation, fraud, or any cause for which issuance could have been refused had it been known to the director at the time of issuance.
Source
Laws 1980, LB 481, § 28;
Laws 1989, LB 92, § 213.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2634 - Violations; administrative fine; enforcement.

44-2634.
Violations; administrative fine; enforcement.
Any person violating sections 44-2606 to 44-2635 may after notice and hearing be subject to an administrative fine of not more than five hundred dollars per violation. Such fine may be enforced in the same manner as civil judgments and may be in addition to any denial, suspension, probation, or revocation of a license. Any person charged with a violation of sections 44-2606 to 44-2635 may waive his or her right to a hearing and consent to such discipline as the director determines to be appropriate. All hearings held pursuant to sections 44-2606 to 44-2635 shall be governed by the Administrative Procedure Act.
Source
Laws 1980, LB 481, § 29;
Laws 1989, LB 92, § 214.
Cross References
Administrative Procedure Act, see section 84-920.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-2635 - Rules and regulations.

44-2635.
Rules and regulations.
The director may adopt and promulgate reasonable rules and regulations for the implementation and administration of sections 44-2606 to 44-2635.
Source
Laws 1980, LB 481, § 30;
Laws 1989, LB 92, § 215.