Nebraska Statutes 44-212. Insurance companies; officers; elections; terms; salaries
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The directors of every stock company and the board of directors or members of every mutual company or assessment association may elect such officers as are necessary to conduct the business of the company, including a president, secretary, and treasurer, and employ such other officers and employees as may be required to carry on the business of the company and may fix their terms of office or employment and their salaries and compensation, but such action shall not be in conflict with the provisions of law relating thereto.
Source
- Laws 1913, c. 154, § 29, p. 411;
- R.S.1913, § 3165;
- Laws 1919, c. 190, tit. V, art. III, § 21, p. 590;
- C.S.1922, § 7765;
- C.S.1929, § 44-221;
- R.S.1943, § 44-212;
- Laws 1989, LB 92, § 58.
Terms Used In Nebraska Statutes 44-212
- Action shall: include any proceeding in any court of this state. See Nebraska Statutes 49-801
- Assessment association: shall mean a company that meets its losses and expenses from assessment levied upon its members. See Nebraska Statutes 44-103
- Company: shall include any corporation, partnership, limited liability company, joint-stock company, joint venture, or association. See Nebraska Statutes 49-801
- Mutual company: shall mean a company without capital stock that charges a fixed premium and is required to maintain the same reserve as a stock company. See Nebraska Statutes 44-103
- Stock company: shall mean a company with a capital stock that charges a fixed premium and is required to maintain the reserve provided by Chapter 44. See Nebraska Statutes 44-103