Nebraska Statutes 44-319.06. Foreign companies; securities; amount required
Current as of: 2023 | Check for updates
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No foreign insurer or assessment association now or hereafter authorized to do business in this state shall henceforth transact such business unless it shall deposit and continually maintain with the Department of Insurance or with the proper official of some one state of the United States designated by law to accept such deposit, eligible securities in the amount of not less than one hundred thousand dollars for the benefit of all of its policyholders or policyholders and creditors in the United States.
Source
- Laws 1955, c. 174, § 6, p. 499;
- Laws 2023, LB92, § 53.
- Operative Date: September 2, 2023
Terms Used In Nebraska Statutes 44-319.06
- Assessment association: shall mean a company that meets its losses and expenses from assessment levied upon its members. See Nebraska Statutes 44-103
- Department: shall mean the Department of Insurance. See Nebraska Statutes 44-103
- Foreign: when applied to corporations shall include all those created by authority other than that of this state. See Nebraska Statutes 49-801
- Insurer: shall include all companies, exchanges, societies, or associations whether organized on the stock, mutual, assessment, or fraternal plan of insurance and reciprocal insurance exchanges. See Nebraska Statutes 44-103
- 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
- United States: shall include territories, outlying possessions, and the District of Columbia. See Nebraska Statutes 49-801