Terms Used In Nebraska Statutes > Insurers and Health Organizations Risk-Based Capital Act

• Action: shall include any proceeding in any court of this state. See Nebraska Statutes 49-801
• Action shall: include any proceeding in any court of this state. See Nebraska Statutes 49-801
• Adjusted risk-based capital report: means a risk-based capital report which has been adjusted by the director in accordance with subsection (6) of section 44-6015. See Nebraska Statutes 44-6003
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Authorized control level risk-based capital: means the number determined under the risk-based capital formula in accordance with the risk-based capital instructions. See Nebraska Statutes 44-6011
• Company: shall include any corporation, partnership, limited liability company, joint-stock company, joint venture, or association. See Nebraska Statutes 49-801
• Conviction: A judgement of guilt against a criminal defendant.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Corrective order: means an order issued by the director specifying corrective actions which the director has determined are required. See Nebraska Statutes 44-6004
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Department: shall mean the Department of Insurance. See Nebraska Statutes 44-103
• Director: means the Director of Insurance. See Nebraska Statutes 44-6005
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Domestic: when applied to corporations shall mean all those created by authority of this state. See Nebraska Statutes 49-801
• Domestic health organization: means a health organization domiciled in this state. See Nebraska Statutes 44-6006.01
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Foreign: when applied to corporations shall include all those created by authority other than that of this state. See Nebraska Statutes 49-801
• Foreign health organization: means a health organization that is authorized to do business in this state but is not domiciled in this state. See Nebraska Statutes 44-6007.01
• Health organization: means a health maintenance organization, prepaid limited health service organization, prepaid dental service corporation, or other managed care organization. See Nebraska Statutes 44-6007.02
• Insurer: means an insurer as defined in section 44-103 authorized to transact the business of insurance, except that insurer does not include health organizations, unincorporated mutual associations, assessment associations, health maintenance organizations, prepaid dental service corporations, prepaid limited health service organizations, monoline mortgage guaranty insurers, monoline financial guaranty insurers, title insurers, prepaid legal corporations, intergovernmental risk management pools, and any other kind of insurer to which the application of the Insurers and Health Organizations Risk-Based Capital Act, in the determination of the director, would be clearly inappropriate. See Nebraska Statutes 44-6008
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Mandatory control level risk-based capital: means the product of 0. See Nebraska Statutes 44-6011
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: shall include bodies politic and corporate, societies, communities, the public generally, individuals, partnerships, limited liability companies, joint-stock companies, and associations. See Nebraska Statutes 49-801
• Person shall: include bodies politic and corporate, societies, communities, the public generally, individuals, partnerships, limited liability companies, joint-stock companies, and associations. See Nebraska Statutes 49-801
• Regulatory action level risk-based capital: means the product of 1. See Nebraska Statutes 44-6011
• 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
• Risk-based capital instructions: means the risk-based capital report, including risk-based capital instructions adopted by the National Association of Insurance Commissioners, as such instructions may be amended by the association from time to time in accordance with the procedures adopted by the association. See Nebraska Statutes 44-6010
• Risk-based capital level: means an insurer's or a health organization's company action level risk-based capital, regulatory action level risk-based capital, authorized control level risk-based capital, or mandatory control level risk-based capital. See Nebraska Statutes 44-6011
• Risk-based capital plan: means a comprehensive financial plan containing the elements specified in subsection (2) of section 44-6016. See Nebraska Statutes 44-6012
• Risk-based capital report: means the report required in section 44-6015. See Nebraska Statutes 44-6013
• 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
• Subpoena: A command to a witness to appear and give testimony.
• Testify: Answer questions in court.
• Total adjusted capital: means the sum of:

  (1) An insurer's or a health organization's statutory capital and surplus as determined in accordance with the statutory accounting applicable to the annual financial statements required to be filed under sections 44-322, 44-32,134, 44-3823, and 44-4720 . See Nebraska Statutes 44-6014

• United States: shall include territories, outlying possessions, and the District of Columbia. See Nebraska Statutes 49-801
• Year: shall mean calendar year. See Nebraska Statutes 49-801