Nebraska Statutes 44-409. Domestic sickness and accident insurance companies; assets and liabilities
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In ascertaining the condition of a domestic sickness and accident insurance company, it shall be allowed as assets only such investments, cash, and accounts as are authorized by the laws of this state at the date of the examination. In ascertaining its liabilities, there shall be charged, in addition to the capital stock and all outstanding claims, a sum equal to the total unearned premium on the policies in force, after deducting credit for reinsurance authorized by sections 44-416.05 to 44-416.10, calculated on the gross sum without any deductions on any account, charged to the policyholder on each respective risk from the date of the issuance of the policy.
Source
- Laws 1913, c. 154, § 96, p. 439;
- R.S.1913, § 3233;
- Laws 1919, c. 190, tit. V, art. VI, § 4, p. 619;
- C.S.1922, § 7832;
- C.S.1929, § 44-504;
- R.S.1943, § 44-409;
- Laws 1949, c. 149, § 1, p. 375;
- Laws 1965, c. 263, § 1, p. 747;
- Laws 1981, LB 330, § 2;
- Laws 1985, LB 299, § 8;
- Laws 2000, LB 930, § 3;
- Laws 2005, LB 119, § 7.
Terms Used In Nebraska Statutes 44-409
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Company: shall include any corporation, partnership, limited liability company, joint-stock company, joint venture, or association. See Nebraska Statutes 49-801
- Domestic: when applied to corporations shall mean all those created by authority of this state. See Nebraska Statutes 49-801
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Reinsurance: shall mean a contract by which an insurer procures a third party to insure it against loss or liability by reason of such original insurance. 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