reglab/statecodes huggingface dataset:
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-224.08 - Reinsurance; special meetings of shareholders; notice.

44-224.08.
Reinsurance; special meetings of shareholders; notice.
All special meetings of shareholders or members called pursuant to sections 44-224.03, 44-224.05, and 44-224.07 shall be called upon a printed notice which shall contain (1) the time, place, and purpose of the meeting, (2) a brief statement of the substance of the contract and, in the case of the type of a bulk reinsurance contract contemplated by subsection (3) of section 44-224.05, a brief statement of the plan for distributing or otherwise disposing of the surplus assets, if any, of the ceding company, and (3) a copy of the order of the director approving the contract. Such notice shall be mailed at least ten days prior to the date the special meeting is called and shall be directed to the shareholder or member at his or her last post office address appearing on the records of the company.
Source
Laws 1957, c. 180, § 8, p. 623;
Laws 1989, LB 92, § 77.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-224.09 - Merger, consolidation, reinsurance; appeal.

44-224.09.
Merger, consolidation, reinsurance; appeal.
Any party aggrieved by any order of the director approving or disapproving any contract of merger, consolidation, or bulk reinsurance may appeal, and the appeal shall be in accordance with the Administrative Procedure Act.
Source
Laws 1957, c. 180, § 9, p. 624;
Laws 1969, c. 359, § 11, p. 1272;
Laws 1988, LB 352, § 42.
Cross References
Administrative Procedure Act, see section 84-920.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-224.10 - Reinsurance; consolidation; forfeiture of charter; when.

44-224.10.
Reinsurance; consolidation; forfeiture of charter; when.
Whenever any company operating on other than the stock plan reinsures all of its risk and business in bulk its charter shall be deemed forfeited to the State of Nebraska. Whenever any company enters into a contract of consolidation and thereby loses its separate identity, its charter shall be deemed forfeited to the State of Nebraska.
Source
Laws 1957, c. 180, § 10, p. 624.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-224.11 - Domestic company; reinsurance; acceptance; conditions.

44-224.11.
Domestic company; reinsurance; acceptance; conditions.
(1) In addition to any other reinsurance authority granted by Chapter 44, any domestic insurance company authorized to transact business in this state pursuant to Chapter 44, article 2, may accept reinsurance for any insurance transacted by any affiliate or affiliates of such company which such company is not authorized to transact directly. The term affiliate shall have the same meaning as that stated for such term in section 44-2121.
(2) Before an insurance company may transact a business of accepting reinsurance pursuant to this section, it shall obtain the approval of the Department of Insurance. No such approval shall be granted or continued in effect unless the company has and maintains a minimum surplus, in cash or invested as provided by law, of at least two million dollars and has and maintains admitted assets of at least ten million dollars. No such approval shall be granted or continued in effect if the Director of Insurance finds that such approval would not be in the best interests of the policyholders, shareholders, or public because of the competence, experience, or integrity of the management personnel of such business, the terms of reinsurance accepted in connection with such business, or the effect of the operation of such business on the other operations of the company.
(3) No insurance company shall accept reinsurance pursuant to the authority granted by this section on any one risk in an amount exceeding five percent of its surplus to policyholders as reflected by the last annual statement of the company. The term any one risk and the term surplus to policyholders shall have the same meaning as that stated for such terms in section 44-222.
(4) Nothing in this section shall be construed to require any insurance company otherwise authorized by law to transact the business of reinsurance to exercise the authority granted by this section.
(5) The Department of Insurance shall adopt and promulgate such reasonable rules and regulations as may be necessary or appropriate to carry out the provisions of this section in accordance with the provisions of the Administrative Procedure Act. Such rules and regulations may include rules and regulations pertaining to the form of application for transaction of business authorized by this section, the plan of operation of such business, the qualifications of personnel engaged in such business, and the accounting and reporting procedures applicable to such business.
Source
Laws 1978, LB 464, § 1;
Laws 1991, LB 236, § 37.
Cross References
Administrative Procedure Act, see section 84-920.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-233 - Domestic stock company; change to mutual company; requirements.

44-233.
Domestic stock company; change to mutual company; requirements.
If any domestic insurance company, operating upon a stock basis, hereafter desires to amend its articles of incorporation and change its methods of doing business to those of a mutual company, it shall, in addition to the requirements of section 44-231, comply with the provisions of sections 44-233 to 44-241.
Source
Laws 1953, c. 152, § 1, p. 480.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-234 - Domestic stock company; change to mutual company; plan; requirements.

44-234.
Domestic stock company; change to mutual company; plan; requirements.
The board of directors shall submit to the Director of Insurance:
(1) Two copies of the proposed amendments to its articles of incorporation as provided for in section 44-231, duly certified by the secretary of the company, for filing in the office of the director and as many additional copies thereof as there are shareholders of the company;
(2) Two copies of a comprehensive plan for the mutualization of the company as approved by the board of directors, duly certified by the secretary of the company, for filing in the office of the director and as many additional copies thereof or copies of an adequate summary of the plan as there are shareholders of the company; and
(3) A complete list of the shareholders of the company showing the name of, number of shares owned by, and the latest address of each shareholder as shown by the company's records.
Source
Laws 1953, c. 152, § 2, p. 480;
Laws 1989, LB 92, § 80.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-235 - Domestic stock company; change to mutual company; plan; contents.

44-235.
Domestic stock company; change to mutual company; plan; contents.
The plan for the mutualization of the company shall among other things include:
(1) A statement of the value of the interest of the shareholders in the company as ascertained by the company, which value shall not exceed the fair value thereof, and the amount proposed to be paid to each shareholder upon retirement of his or her shares of stock;
(2) A statement of the method of ascertaining the value of the interest of the shareholders;
(3) A statement of the procedure proposed for paying the shareholders for their stock, which may be done over a period of time and performed with due regard for the interest of the policyholders, and for retiring and canceling the stock;
(4) A statement of the method to be followed in continuing the management of the company during any period intervening between the inception of the plan and the retirement of the stock and in instituting management by the policyholders; and
(5) A provision for approval of the plan for mutualization by at least two-thirds of the policyholders voting in person or by proxy at a meeting of policyholders called by the company upon at least thirty days' written notice mailed to the policyholders at their latest addresses as shown by the company's records and containing an adequate summary of the essential provisions of the plan.
Source
Laws 1953, c. 152, § 3, p. 481;
Laws 1989, LB 92, § 81.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-236 - Domestic stock company; change to mutual company; plan; director; duties; notice.

44-236.
Domestic stock company; change to mutual company; plan; director; duties; notice.
Upon receipt of the documents described in section 44-234, the Director of Insurance shall promptly forward by mail to each shareholder of the company a copy of the proposed amendments to the articles of incorporation, a copy of the plan for mutualization or a summary thereof, and a written notice of hearing. The notice of hearing shall contain:
(1) A notification of the time, which shall be at least thirty days from the time of mailing the notice, and place for the hearing of objections to the plan for mutualization; and
(2) A statement that, upon the hearing and due consideration of the proposed plan and amendments to the articles of incorporation, the director may either disapprove the plan, approve the plan as submitted, including the value of the interest of the shareholders in the company as ascertained and stated in the plan, or approve the plan only subject to such modifications as he or she may propose, in which event it shall be returned to the company for approval by the board of directors, and that upon final approval in either event the plan shall, subject to approval by the owners of at least two-thirds of the stock of the company at a regular or special meeting called for the purpose, be placed in effect and the stock of the company retired and canceled and the value ascertained by the director paid to the shareholders all as provided in the plan.
Source
Laws 1953, c. 152, § 4, p. 481;
Laws 1989, LB 92, § 82.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-237 - Domestic stock company; change to mutual company; hearing; objections; evidence.

44-237.
Domestic stock company; change to mutual company; hearing; objections; evidence.
The Director of Insurance shall hold the hearing on objections as provided by sections 44-233 to 44-241 and shall receive written objections to the plan and amendments from any policyholder or shareholder and any evidence offered in support thereof. He or she may employ such actuaries, appraisers, and other experts and make such examinations of the company and its books, records, and property as he or she deems necessary. The Director of Insurance shall cause a full and complete written record of the hearing to be made. Any interested party having objections to the plan or any part thereof shall fully state such objections in written form and file them with the director prior to the hearing. Upon the hearing any objector may offer such evidence as may be determined by the Director of Insurance to be relevant and proper. Upon appeal from the order of the director, the value of each shareholder's interest in the company and the amount to be paid therefor shall not be increased or decreased by reason of any change of circumstances occurring after the filing of such order.
Source
Laws 1953, c. 152, § 5, p. 482;
Laws 1989, LB 92, § 83.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-238 - Domestic stock company; change to mutual company; hearing; order; appeal.

44-238.
Domestic stock company; change to mutual company; hearing; order; appeal.
If, upon the hearing, the Director of Insurance disapproves the plan, he or she shall enter a written order fully stating the reason therefor. If he or she approves the proposed plan and amendments, he or she shall (1) make and enter an appropriate order approving them, (2) make a finding that the provisions of the plan are in conformity with the requirements of sections 44-231 and 44-235, (3) make a specific finding as to the fair value of the shareholders' interest in the company as of the date of the order, (4) find the value of each shareholder's interest as represented by his or her shares therein and the amount to be paid therefor, and (5) order that, conditioned upon the approval and adoption of the plan and amendments to the articles of incorporation by the shareholders at a regular or special meeting duly called for the purpose as provided in section 44-231, (a) the plan shall be placed in effect, (b) all shareholders of the company shall surrender their stock for cancellation pursuant to the plan and receive payment therefor in accordance therewith, and (c) upon any shareholder's failing or neglecting to so surrender his or her stock, all of his or her rights, powers, and privileges as such shareholder shall nevertheless terminate and be extinguished, excepting only his or her right to receive payment for his or her stock. The order shall recite that appeal may be had and that the appeal shall be in accordance with the Administrative Procedure Act. A copy of the order, duly certified by the director, shall be promptly forwarded by mail to each of the shareholders of the company at his or her latest address as shown on the records of the company.
Source
Laws 1953, c. 152, § 6, p. 483;
Laws 1969, c. 359, § 12, p. 1272;
Laws 1988, LB 352, § 43;
Laws 1989, LB 92, § 84.
Cross References
Administrative Procedure Act, see section 84-920.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-239 - Domestic stock company; change to mutual company; plan; modification by director.

44-239.
Domestic stock company; change to mutual company; plan; modification by director.
If the Director of Insurance proposes modifications in the proposed plan for mutualization or amendments to the articles of incorporation, he or she shall make such proposals in the form of a written order approving the plan only upon the condition that such modifications be promptly made thereto and approved by a two-thirds vote of the board of directors and adopted by the owners of at least two-thirds of the stock of the company. The order shall in all other respects follow the form and contain the provisions of an order approving such plan as set out in section 44-238 and shall be similarly forwarded to the shareholders of the company.
Source
Laws 1953, c. 152, § 7, p. 484;
Laws 1989, LB 92, § 85.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-240 - Domestic stock company; change to mutual company; plan; approval by policyholders.

44-240.
Domestic stock company; change to mutual company; plan; approval by policyholders.
Any plan for mutualization approved by the Director of Insurance shall be submitted to the policyholders of the company at a meeting held pursuant to the plan and shall be adopted only upon the affirmative vote of two-thirds of the policyholders present and voting in person or by proxy at the meeting as provided in the plan. The plan and amendments to the articles of incorporation shall also be submitted to the shareholders of the company as provided in section 44-231, and upon affirmative vote of at least two-thirds of the shareholders, the plan shall be placed in full effect and operation and the amendments to the articles shall be deemed adopted to become fully effective upon filing at the time specified in the plan and as provided for in section 44-205, and upon such filing being made, the company shall forthwith become and be a mutual insurance company for all purposes. The company shall publish notice of the amendments to its articles of incorporation as provided in section 44-206.
Source
Laws 1953, c. 152, § 8, p. 484;
Laws 1989, LB 92, § 86.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-241 - Domestic stock company; change to mutual company; expenses of department; payment by company.

44-241.
Domestic stock company; change to mutual company; expenses of department; payment by company.
All reasonable expenses incurred by the Department of Insurance shall be certified to by the director and paid by the company.
Source
Laws 1953, c. 152, § 9, p. 484.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-242 - All-lines insurer; terms, defined.

44-242.
All-lines insurer; terms, defined.
For purposes of sections 44-242 to 44-247, unless the context otherwise requires:
(1) An all-lines insurer shall mean an insurer authorized to write more than one line of insurance included in a life insurance class of insurance and one or more lines of insurance included in a property and liability class of insurance;
(2) Life insurance class of insurance shall mean the lines of insurance specified in subdivisions (1) through (4) of section 44-201; and
(3) Property and liability class of insurance shall mean the lines of insurance specified in subdivisions (4) through (14) and (16) through (20) of section 44-201, except that, with respect to any particular all-lines insurer, the line of insurance specified in subdivision (4) of section 44-201 may be included in either the life insurance class of insurance or property and liability class of insurance but shall not be included in both classes or, without the approval of the department, transferred from one class to another.
Source
Laws 1979, LB 332, § 1;
Laws 1989, LB 92, § 87.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-243 - All-lines insurer; minimum surplus; maintain; failure; effect.

44-243.
All-lines insurer; minimum surplus; maintain; failure; effect.
Except as provided in section 44-202.01, an all-lines insurer shall maintain a minimum surplus to policyholders, as defined in section 44-222, of at least two million dollars in the form of capital, if a stock insurance company, or in the form of surplus, if a mutual insurance company, in accordance with sections 44-214 and 44-219, respectively. Such an insurer shall not be subject to section 44-245 so long as its surplus to policyholders exceeds such minimum. Whenever the surplus to policyholders of such an insurer falls below such minimum, it shall be deemed to be an impaired insurer and shall automatically be subject to section 44-245.
Source
Laws 1979, LB 332, § 2;
Laws 1989, LB 92, § 88.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-244 - All-lines insurer; class of insurance; annual statement; premiums; how accounted for.

44-244.
All-lines insurer; class of insurance; annual statement; premiums; how accounted for.
Each line of insurance written by an all-lines insurer which is included in the life insurance class of insurance or the property and liability class of insurance shall be accounted for separately in life and accident and health annual statement blanks and fire and casualty annual statement blanks, respectively. Nothing in this section shall prohibit the writing of combination policy forms by an all-lines insurer combining any line or lines of insurance included in the life insurance class of insurance with any line or lines of insurance included in the property and liability class of insurance, but the allocable and separately stated premiums for each line of insurance shall be accounted for separately according to its classification.
Source
Laws 1979, LB 332, § 3;
Laws 1989, LB 92, § 89.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-245 - All-lines insurer; impairment or insolvency; liabilities; how charged.

44-245.
All-lines insurer; impairment or insolvency; liabilities; how charged.
In the event of impairment or insolvency of an all-lines insurer, the excess of the liabilities of one class of insurance over the accumulated assets attributable to that class of insurance may be charged as necessary against the assets of the other class only to the extent that assets attributable to such other class exceed the amount of reserves and other liabilities of such other class.
Source
Laws 1979, LB 332, § 4.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-246 - Insurance statutes, applicability; sections, how construed.

44-246.
Insurance statutes, applicability; sections, how construed.
All requirements, limitations, and restrictions of Chapter 44 which apply to specific lines of insurance or to companies identified by the specific lines of insurance transacted by them shall apply to such companies and to all persons or agents thereof with respect to such specific line of insurance only to the extent transacted or conducted by such companies notwithstanding the fact that companies authorized under this section are formed or authorized to transact lines of insurance included in both the life insurance and property and casualty classes of insurance. If any provisions of sections 44-242 to 44-247 conflict with any other provisions of Chapter 44, the provisions of sections 44-242 to 44-247 shall prevail.
Source
Laws 1979, LB 332, § 5;
Laws 1989, LB 92, § 90.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-247 - Department; rules and regulations.

44-247.
Department; rules and regulations.
The department shall adopt and promulgate rules and regulations necessary to carry out sections 44-242 to 44-247.
Source
Laws 1979, LB 332, § 6;
Laws 1989, LB 92, § 91.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-248 - Plan of exchange; act, how cited.

44-248.
Plan of exchange; act, how cited.
Sections 44-248 to 44-255 shall be known and may be cited as the Insurance Company Plan of Exchange Act.
Source
Laws 1973, LB 296, § 1;
R.S.1943, (1988), § 44-133.01;
Laws 1989, LB 92, § 23.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-249 - Plan of exchange; adoption.

44-249.
Plan of exchange; adoption.
Any domestic stock insurance company may adopt a plan providing for the exchange of its outstanding shares for the consideration designated in this section to be paid or provided by a corporation which is to acquire such shares in the manner provided in sections 44-248 to 44-255.
The plan of exchange may provide that the acquiring corporation, as consideration for the stock of the domestic corporation, (1) transfer shares of its stock, (2) transfer other securities issued by it, (3) pay cash therefor, (4) pay or provide other consideration, or (5) pay or provide any combination of the foregoing types of consideration.
Acquiring corporation, as used in sections 44-248 to 44-255, shall mean any corporation incorporated under the laws of the State of Nebraska, any foreign or alien corporation domesticated or qualified to do business in Nebraska, or any foreign or alien insurance company authorized to do business in Nebraska.
Source
Laws 1973, LB 296, § 2;
R.S.1943, (1988), § 44-133.02.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-250 - Plan of exchange; approval by directors.

44-250.
Plan of exchange; approval by directors.
The board of directors of each corporation which is a party to a plan of exchange shall by resolution upon a vote of two-thirds of all of its directors approve a plan of exchange setting forth:
(1) The names of the companies proposing to adopt a plan of exchange, and the names of the states or countries under which each of the companies is incorporated or organized;
(2) The terms and conditions of the proposed plan of exchange, and the mode of carrying the same into effect;
(3) The manner and basis of exchanging the shares of stock of the acquired company or other consideration involved in the plan of exchange; and
(4) Such other provisions with respect to the plan of exchange as are deemed necessary or advisable.
Source
Laws 1973, LB 296, § 3;
R.S.1943, (1988), § 44-133.03.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-251 - Plan of exchange; approval; submit to shareholders.

44-251.
Plan of exchange; approval; submit to shareholders.
(1) Such plan of exchange shall then be submitted to the Director of Insurance for his or her approval after a hearing at which the shareholders of the company to be acquired shall have an opportunity to be heard upon at least ten days' notice to be given by the company to its shareholders of record at the time of mailing such notice. The director shall approve such plan within twenty days after such hearing unless he or she finds that the terms and conditions thereof for the issuance and exchange of securities or other consideration are unfair to the shareholders of the company to be acquired or if he or she finds that any of the conditions set forth in subsection (1) of section 44-2127 exist.
(2) After having obtained the approval of the Director of Insurance, the plan of exchange shall be submitted to a vote at a meeting of the shareholders of the company to be acquired. Such meeting may be either an annual or a special meeting. Notice shall be given not less than twenty days before such meeting to each shareholder of record as of the time of mailing such notice. Such notice shall be deemed to be delivered when deposited in the United States mail with postage prepaid, addressed to the shareholder at his or her address as it appears on the records of the company. A copy or summary of the plan of exchange shall be included in or enclosed with such notice. Each outstanding share of such company shall be entitled to vote on the proposed plan, whether or not such share has voting rights under the provisions of the articles of incorporation of such company. The affirmative vote of two-thirds of all of the outstanding shares, in person or by proxy, shall be necessary for the approval of any such plan by such shareholders.
Source
Laws 1973, LB 296, § 4;
R.S.1943, (1988), § 44-133.04;
Laws 1989, LB 92, § 24;
Laws 1991, LB 236, § 38.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-252 - Plan of exchange; effective; abandon; when.

44-252.
Plan of exchange; effective; abandon; when.
Upon such approval of the plan by the shareholders, it shall be executed by the company acquired by its president or vice president and by its secretary or an assistant secretary and shall become effective without other action upon the filing thereof with the Director of Insurance along with a certification as to the number of shares outstanding entitled to vote and the number of shares voted for and against such plan respectively. At any time prior to the filing of the same with the director with such certification, the plan of exchange may be abandoned pursuant to the provisions therefor, if any, set forth in the plan.
Source
Laws 1973, LB 296, § 5;
R.S.1943, (1988), § 44-133.05.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-254 - Plan of exchange; transfer; effect.

44-254.
Plan of exchange; transfer; effect.
(1) Upon a plan of exchange becoming effective, the exchange provided for therein shall be considered to have been consummated and each shareholder of the stock insurance company acquired shall cease to be a shareholder of such company. The ownership of all shares of the issued and outstanding stock of such company shall vest in the acquiring corporation automatically without any physical transfer or deposit of certificates representing such shares. The acquiring corporation thereupon shall become the sole shareholder of such stock insurance company and have all of the rights, privileges, immunities and powers and, except as otherwise provided in sections 44-248 to 44-255, be subject to all the duties and liabilities to the extent provided by law of a shareholder of an insurance company organized under the laws of this state.
(2) Certificates representing shares of a domestic insurance company to be acquired prior to the plan of exchange becoming effective shall, after the plan of exchange becomes effective, represent (a) shares of the issued and outstanding capital stock or other securities issued by the acquiring corporation and (b) the right, if any, to receive cash or other consideration upon such terms as are specified in the plan of exchange. The plan of exchange may specify that all such certificates shall after the plan of exchange becomes effective represent only the right to receive shares of stock or other securities issued by the acquiring corporation, or cash or other consideration or any combination thereof, upon such terms as are specified in the plan of exchange.
Source
Laws 1973, LB 296, § 7;
R.S.1943, (1988), § 44-133.07.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-255 - Plan of exchange; corporate status.

44-255.
Plan of exchange; corporate status.
The stock company acquired under a plan of exchange and the acquiring corporation shall be in all respects separate and distinct corporations, with neither corporation having any liability to the creditors or policyholders, if any, or shareholders of the other for any acts or omissions of the officers, directors, or shareholders of either or both of such corporations.
Source
Laws 1973, LB 296, § 8;
R.S.1943, (1988), § 44-133.08.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-301 - Insurance companies; corporation laws apply; exceptions.

44-301.
Insurance companies; corporation laws apply; exceptions.
The Nebraska Model Business Corporation Act, except as otherwise provided in Chapter 44, shall apply to all domestic incorporated insurance companies so far as the act is applicable or pertinent to and not in conflict with other provisions of the law relating to such companies. An assessment association that has accumulated and continues to maintain (1) reserves and (2) surplus or contingency funds at least equal to those required of a mutual insurance company shall, unless otherwise provided by law, be deemed to have all the powers and privileges in transacting its business and managing its affairs as those possessed by a mutual insurance company qualified to transact the same line or lines of insurance as the assessment association.
Source
Laws 1913, c. 154, § 30, p. 412;
R.S.1913, § 3166;
Laws 1919, c. 190, tit. V, art. IV, § 1, p. 590;
C.S.1922, § 7766;
C.S.1929, § 44-301;
R.S.1943, § 44-301;
Laws 1955, c. 172, § 1, p. 488;
Laws 1989, LB 92, § 92;
Laws 1995, LB 109, § 220;
Laws 2014, LB749, § 286.
Cross References
Nebraska Model Business Corporation Act, see section 21-201.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-302 - Insurance law; companies and persons amenable.

44-302.
Insurance law; companies and persons amenable.
All domestic insurance companies, and all insurance agents, solicitors, brokers, surveyors or adjusters doing business in this state, and all insurance business transacted in whole or in part within or outside this state, the subject and matter of which is located wholly or in part in this state, shall be subject to and be governed by this chapter, and the records of such insurance company, agent, solicitor, broker, surveyor or adjuster doing business in this state shall be subject to inspection and examination of the Department of Insurance.
Source
Laws 1913, c. 154, § 35, p. 413;
R.S.1913, § 3171;
Laws 1919, c. 190, tit. V, art. IV, § 6, p. 591;
C.S.1922, § 7771;
C.S.1929, § 44-306;
R.S.1943, § 44-302.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-303 - Insurance companies; certificate of authority; duration; promotion expenses; use of premiums prohibited.

44-303.
Insurance companies; certificate of authority; duration; promotion expenses; use of premiums prohibited.
No insurance company shall transact any insurance business in this state unless it has received a certificate of authority from the Department of Insurance to do so. This certificate shall expire on the last day of April in each year and shall be renewed annually if the company has continued to comply with the laws of this state and the rules and regulations of the department. Authority to do an insurance business shall be refused any company which contracts to pay or does pay any part of the premiums arising from insurance it has written or may write as compensation, directly or indirectly, for promoting or organizing the company.
Source
Laws 1913, c. 154, § 31, p. 412;
R.S.1913, § 3167;
Laws 1919, c. 190, tit. V, art. IV, § 2, p. 591;
C.S.1922, § 7767;
C.S.1929, § 44-302;
R.S.1943, § 44-303;
Laws 1957, c. 178, § 12, p. 617;
Laws 1965, c. 257, § 1, p. 724;
Laws 1989, LB 92, § 93.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-304 - Insurance companies; authority to do business; conditions.

44-304.
Insurance companies; authority to do business; conditions.
Every insurance company before transacting the business of insurance in this state shall file in the office of the Department of Insurance a legally authenticated copy of its charter, articles of incorporation or record of its organization, and bylaws as follows: (1) If a domestic company, a copy of its articles of incorporation together with any amendments made therein; and (2) if a foreign or alien company, a copy of its articles of incorporation or charter and bylaws, including all amendments made therein, with a certificate duly executed by the officer having the custody of such articles or charter, under his or her seal of office, that such company is duly authorized under the laws of such state or country to do business therein, and a certificate showing the amount of issued and outstanding capital stock and assets as required by section 44-305. Such company shall furnish such other information and copies of all other papers which the department may require.
Source
Laws 1913, c. 154, § 37, p. 413;
R.S.1913, § 3173;
Laws 1919, c. 190, tit. V, art. IV, § 8, p. 592;
C.S.1922, § 7773;
C.S.1929, § 44-308;
R.S.1943, § 44-304;
Laws 1989, LB 92, § 94.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-305 - Foreign or alien company; capital and surplus required.

44-305.
Foreign or alien company; capital and surplus required.
No foreign or alien insurance company shall be permitted to transact any business of insurance in this state: (1) If a stock company, unless it possesses, in its own exclusive name and right, paid-up, unimpaired capital stock and surplus equal to the minimum amount required by section 44-214 to entitle any domestic stock insurance company to transact a like kind or kinds of business; and (2) if a mutual company, unless it owns, has, and possesses, in its own exclusive name and right, surplus unimpaired of the kind and equal to the minimum amount required by section 44-219 to entitle any domestic mutual insurance company to transact a like kind or kinds of business. No part of such minimum capital or surplus shall consist of the capital stock of its own or any other insurance company. No alien insurance company shall be authorized to transact any business of insurance in this state unless it shall have deposited with the insurance department of some one state in the United States not less than two hundred thousand dollars in approved securities for the benefit of all its policyholders in the United States.
Source
Laws 1913, c. 154, § 38, p. 414;
R.S.1913, § 3174;
Laws 1919, c. 190, tit. V, art. IV, § 9, p. 593;
C.S.1922, § 7774;
C.S.1929, § 44-309;
R.S.1943, § 44-305;
Laws 1947, c. 161, § 1, p. 442;
Laws 1989, LB 92, § 95.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-307 - Insurance companies; business authorized.

44-307.
Insurance companies; business authorized.
No domestic insurance company shall transact any business other than that specified in its articles of incorporation or otherwise authorized by law, and no foreign or alien company admitted to transact business in this state shall transact any other kind of business than that which it has been authorized by the laws of the state or country of its incorporation to do.
Source
Laws 1913, c. 154, § 48, p. 419;
R.S.1913, § 3184;
Laws 1919, c. 190, tit. V, art. IV, § 19, p. 598;
C.S.1922, § 7784;
C.S.1929, § 44-319;
R.S.1943, 44-307;
Laws 1969, c. 356, § 20, p. 1251.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-308 - Assessment life associations; new associations prohibited.

44-308.
Assessment life associations; new associations prohibited.
No life insurance company or association, other than fraternal benefit society, which issues contracts, the performance of which is contingent upon the payment of assessments or calls made upon its members, shall be hereafter organized to do business within this state. All such companies or associations as are now licensed to do business within the state on such plans may continue and carry on the business of insurance on the plan under which they are organized and doing business July 17, 1913, without being required to value their assessment policies or certificates of membership as yearly renewal term contracts.
Source
Laws 1913, c. 154, § 150, p. 470;
R.S.1913, § 3287;
Laws 1919, c. 190, tit. V, art. XI, § 15, p. 652;
C.S.1922, § 7894;
C.S.1929, § 44-1115;
R.S.1943, § 44-308;
Laws 1987, LB 17, § 2.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-309 - Pollutant exclusion; exception for bodily injury.

44-309.
Pollutant exclusion; exception for bodily injury.
An exclusion in a homeowner's or owner's, landlord's, and tenant's policy of insurance for loss arising out of the discharge, dispersal, release, or escape of pollutants shall include an exception to the exclusion for bodily injury sustained within a building and caused by smoke, fumes, vapor, or soot produced by or originating from a heating system or ventilation system. This section applies to policies issued or delivered in this state on or after January 1, 2015.
Source
Laws 2014, LB876, § 1.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-310 - Individual sickness and accident or medicare supplement policy; death of insured; refund of unearned premium.

44-310.
Individual sickness and accident or medicare supplement policy; death of insured; refund of unearned premium.
In the event of the death of the insured of an individual sickness and accident or medicare supplement policy, the insurer, upon receipt of a request for a pro rata refund by a party legally entitled to claim such a refund, shall refund the unearned premium prorated to the month of the insured's death if the request has been made within one year after the insured's death. The refund of the premium and termination of the coverage shall be without prejudice to any claim originating prior to the date of the insured's death.
Source
Laws 2014, LB735, § 1.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-311 - Health care sharing ministry; treatment under insurance laws.

44-311.
Health care sharing ministry; treatment under insurance laws.
(1) A health care sharing ministry shall not be considered to be engaging in the business of insurance for purposes of the insurance laws of this state.
(2) For purposes of this section, health care sharing ministry means a faith-based, nonprofit organization that is tax-exempt under the Internal Revenue Code which:
(a) Limits its participants to those who are of a similar faith;
(b) Acts as a facilitator among participants who have financial or medical needs and matches those participants with other participants with the present ability to assist those with financial or medical needs in accordance with criteria established by the health care sharing ministry;
(c) Provides for the financial or medical needs of a participant through contributions from one participant to another;
(d) Provides amounts that participants may contribute with no assumption of risk or promise to pay among the participants and no assumption of risk or promise to pay by the health care sharing ministry to the participants;
(e) Provides a written monthly statement to all participants that lists the total dollar amount of qualified needs submitted to the health care sharing ministry, as well as the amount actually published or assigned to participants for their contribution;
(f) Provides a written disclaimer on or accompanying all applications and guideline materials distributed by or on behalf of the organization that reads, in substance:
IMPORTANT NOTICE. This organization is not an insurance company, and its product should never be considered insurance. If you join this organization instead of purchasing health insurance, you will be considered uninsured. By the terms of this agreement, whether anyone chooses to assist you with your medical bills as a participant of this organization will be totally voluntary, and neither the organization nor any participant can be compelled by law to contribute toward your medical bills. Regardless of whether you receive payment for medical expenses or whether this organization continues to operate, you are always personally responsible for the payment of your own medical bills. This organization is not regulated by the Nebraska Department of Insurance. You should review this organization's guidelines carefully to be sure you understand any limitations that may affect your personal medical and financial needs;
(g) Has participants which retain participation even after they develop a medical condition; and
(h) Conducts an annual audit which is performed by an independent certified public accounting firm in accordance with generally accepted accounting principles and which is made available to the public upon request.
Source
Laws 2014, LB700, § 12.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-312 - Telehealth and telemonitoring services covered under policy, certificate, contract, or plan; insurer; duties; reimbursement rate; requirements.

44-312.
Telehealth and telemonitoring services covered under policy, certificate, contract, or plan; insurer; duties; reimbursement rate; requirements.
(1) For purposes of this section:
(a)(i) Telehealth means the use of medical information electronically exchanged from one site to another, whether synchronously or asynchronously, to aid a health care provider in the diagnosis or treatment of a patient.
(ii) Telehealth includes (A) services originating from a patient's home or any other location where such patient is located, (B) asynchronous services involving the acquisition and storage of medical information at one site that is then forwarded to or retrieved by a health care provider at another site for medical evaluation, and (C) telemonitoring.
(iii) Telehealth also includes audio-only services for the delivery of individual behavioral health services for an established patient, when appropriate, or crisis management and intervention for an established patient as allowed by federal law; and
(b) Telemonitoring means the remote monitoring of a patient's vital signs, biometric data, or subjective data by a monitoring device which transmits such data electronically to a health care provider for analysis and storage.
(2) Any insurer offering (a) any individual or group sickness and accident insurance policy, certificate, or subscriber contract delivered, issued for delivery, or renewed in this state, (b) any hospital, medical, or surgical expense-incurred policy, except for policies that provide coverage for a specified disease or other limited-benefit coverage, or (c) any self-funded employee benefit plan to the extent not preempted by federal law, shall provide upon request to a policyholder, certificate holder, or health care provider a description of the telehealth and telemonitoring services covered under the relevant policy, certificate, contract, or plan.
(3) The description shall include:
(a) A description of services included in telehealth and telemonitoring coverage, including, but not limited to, any coverage for transmission costs;
(b) Exclusions or limitations for telehealth and telemonitoring coverage, including, but not limited to, any limitation on coverage for transmission costs; and
(c) Requirements for the licensing status of health care providers providing telehealth and telemonitoring services.
(4) Except as otherwise provided in section 44-793, the reimbursement rate for any telehealth service shall, at a minimum, be the same as a comparable in-person health care service if the licensed provider providing the telehealth service also provides in-person health care services at a physical location in Nebraska or is employed by or holds medical staff privileges at a licensed facility in Nebraska and such facility provides in-person health care services in Nebraska.
Source
Laws 2015, LB257, § 1;
Laws 2021, LB400, § 1;
Laws 2023, LB296, § 11.
Operative Date: September 2, 2023
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-313 - Insurer; contract for pharmacist professional services; authorized.

44-313.
Insurer; contract for pharmacist professional services; authorized.
(1) For purposes of this section:
(a) Insurer means any insurer offering any individual or group sickness and accident insurance policy or subscriber contract delivered, issued for delivery, or renewed in this state and any hospital, medical, or surgical expense-incurred policy, except for policies that provide coverage for a specified disease or other limited-benefit coverage, and any self-funded employee benefit plan to the extent not preempted by federal law; and
(b) Pharmacist professional services means professional services provided to patients by licensed pharmacists as allowed by law.
(2) On and after January 1, 2016, an insurer may contract with a licensed pharmacist for pharmacist professional services. Nothing in this section shall prohibit an insurer from contracting with a licensed pharmacist who is not employed or associated with a pharmacy. Nothing in this section shall require a licensed pharmacist to contract with an insurer for pharmacist professional services.
Source
Laws 2015, LB342, § 1.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-314 - City or county offering individual or family health insurance to first responders; prohibited acts.

44-314.
City or county offering individual or family health insurance to first responders; prohibited acts.
(1) No city or county offering an individual or family health insurance policy to first responders shall cancel such individual or family health insurance for any first responder who suffers serious bodily injury from an assault that occurs while the first responder is on duty and that results in the first responder falling below the minimum number of working hours needed to maintain his or her regular individual or family health insurance.
(2) The city or county shall only be obligated to provide such health insurance while the first responder is employed with the city or county.
(3) A city or county may cancel such health insurance if the first responder does not return to employment within twelve months after the date of injury.
(4) For purposes of this section, first responder means a sheriff, deputy sheriff, police officer, paid firefighter, or paid individual licensed under a licensure classification in subdivision (1) of section 38-1217 who provides medical care in order to prevent loss of life or aggravation of physiological or psychological illness or injury.
Source
Laws 2017, LB444, § 1.