Nebraska Statutes 44-1208. Exchange of contracts; authorized
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Any corporation organized under the laws of this state, shall, in addition to the rights, powers and franchises specified in its articles of incorporation, have full power and authority to exchange insurance contracts of the kind and character mentioned in section 44-1201. The right to exchange such contracts is hereby declared to be incidental to the purposes for which such corporations are organized, and as much granted as the rights and powers expressly conferred.
Source
- Laws 1917, c. 189, § 8, p. 461;
- Laws 1919, c. 190, tit. V, art. XV, § 8, p. 684;
- C.S.1922, § 7976;
- C.S.1929, § 44-1508;
- R.S.1943, § 44-1208.
Terms Used In Nebraska Statutes 44-1208
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801