Nebraska § 44-1114 Director; powers

Nebraska Statutes

§ 44-1114 — Director; powers

Nebraska § 44-1114

Ch. 44Insurance

This text of Nebraska § 44-1114 (Director; powers) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 44-1114 (2026).

Text

The director shall have the authority to:

(1)Adopt and promulgate rules and regulations to carry out the Viatical Settlements Act;

(2)Establish standards for evaluating reasonableness of payments under viatical settlement contracts for persons with a terminal or chronic illness or condition. This authority includes, but is not limited to, regulation of discount rates used to determine the amount paid in exchange for assignment, transfer, sale, devise, or bequest of a benefit under a life insurance policy insuring the life of a person who is chronically ill or terminally ill;

(3)Establish appropriate licensing requirements, fees, and standards for continued licensure for viatical settlement providers and brokers;

(4)Require a bond or other mechanism for financial accountability for viat

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The director shall have the authority to:
(1) Adopt and promulgate rules and regulations to carry out the Viatical Settlements Act;
(2) Establish standards for evaluating reasonableness of payments under viatical settlement contracts for persons with a terminal or chronic illness or condition. This authority includes, but is not limited to, regulation of discount rates used to determine the amount paid in exchange for assignment, transfer, sale, devise, or bequest of a benefit under a life insurance policy insuring the life of a person who is chronically ill or terminally ill;
(3) Establish appropriate licensing requirements, fees, and standards for continued licensure for viatical settlement providers and brokers;
(4) Require a bond or other mechanism for financial accountability for viatical settlement providers and brokers; and
(5) Adopt rules and regulations governing the relationship and responsibilities of insurers, viatical settlement providers, and viatical settlement brokers during the viatication of a life insurance policy or certificate.