Nebraska Statutes 77-907. Terms, defined
As used in Chapter 77, article 9, unless the context otherwise requires:
Terms Used In Nebraska Statutes 77-907
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Domestic: when applied to corporations shall mean all those created by authority of this state. See Nebraska Statutes 49-801
- Foreign: when applied to corporations shall include all those created by authority other than that of this state. See Nebraska Statutes 49-801
(1) Domestic, foreign, and alien insurance companies shall have the meanings as set forth in section 44-103 and shall include reciprocal or interinsurance exchanges and their designated attorneys in fact as defined in Chapter 44, article 12;
(2) Department shall mean the Department of Insurance;
(3) Director shall mean the Director of Insurance;
(4) Premiums shall mean the consideration paid to insurance companies for insurance and shall include policy fees, assessments, dues, or other similar payments, except that premiums on all annuity contracts and pension, profit-sharing, individually sponsored retirement plans, and other pension plan contracts which are described in section 818(a) of the Internal Revenue Code shall be exempt from taxation;
(5) License shall mean certificate of authority as contemplated by section 44-105 ; and
(6) Direct writing shall mean insurance as defined in section 44-102, but shall not include reinsurance as defined in section 44-103.
Source
- Laws 1951, c. 256, § 1, p. 878;
- Laws 1965, c. 468, § 2, p. 1514;
- Laws 1980, LB 905, § 1;
- Laws 1986, LB 1114, § 9;
- Laws 1988, LB 855, § 4;
- Laws 1995, LB 574, § 65.