(1) The director shall waive any requirements for a nonresident reinsurance intermediary license applicant with a valid license from the applicant’s home state, except the requirements imposed by section 44-5603, if the applicant’s home state awards nonresident licenses to residents of this state on the same basis.

Terms Used In Nebraska Statutes 44-5603.01

  • Director: shall mean the Director of Insurance. See Nebraska Statutes 44-103
  • 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

(2) A nonresident reinsurance intermediary’s satisfaction of any applicable home-state continuing education requirements, if any, for licensed insurance producers or reinsurance intermediaries shall constitute satisfaction of the continuing education requirements of this state if the home state of the reinsurance intermediary recognizes the satisfaction of its continuing education requirements imposed upon insurance producers or reinsurance intermediaries from this state on the same basis.

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