Nebraska Statutes 44-5114. Prohibited investments
An insurer shall not invest in:
Terms Used In Nebraska Statutes 44-5114
- Director: shall mean the Director of Insurance. See Nebraska Statutes 44-103
- 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
- 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
(1) Issued shares of its own capital stock except with the written permission of the director. Such permission may be granted if the purpose of the acquisition is:
(a) In connection with the lawful plan for mutualization of the insurer;
(b) In furtherance of a retirement, pension, or incentive program for officers or employees of the insurer which has been approved by the shareholders; or
(c) Shown to be for the benefit of all shareholders.
Any share acquired pursuant to this subdivision shall not be considered an admitted asset; and
(2) Any investment which is found by the director to be designed to evade any provision of the Insurers Investment Act.