Nebraska § 44-1206.01 Reserve; deficiency; notice; removal

Nebraska Statutes

§ 44-1206.01 — Reserve; deficiency; notice; removal

Nebraska § 44-1206.01

Ch. 44Insurance

This text of Nebraska § 44-1206.01 (Reserve; deficiency; notice; removal) 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. § 44-1206.01 (2026).

Text

Whenever it shall appear from any proper showing or from any examination made that the assets and resources of any domestic reciprocal insurance exchange are insufficient to meet the minimum conditions prescribed in section  44-1206 , the department may promptly determine the amount of such deficiency and thereupon issue a written notice and requisition to the attorney of such reciprocal exchange requiring that such deficiency be removed within a reasonable time not to exceed one hundred eighty days from the service of such notice and requisition. If such deficiency shall not be made good within the time specified in the notice and requisition and satisfactory proof thereof filed with the department, such reciprocal exchange shall be proceeded against in the manner authorized and directed 

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Whenever it shall appear from any proper showing or from any examination made that the assets and resources of any domestic reciprocal insurance exchange are insufficient to meet the minimum conditions prescribed in section 44-1206 , the department may promptly determine the amount of such deficiency and thereupon issue a written notice and requisition to the attorney of such reciprocal exchange requiring that such deficiency be removed within a reasonable time not to exceed one hundred eighty days from the service of such notice and requisition. If such deficiency shall not be made good within the time specified in the notice and requisition and satisfactory proof thereof filed with the department, such reciprocal exchange shall be proceeded against in the manner authorized and directed by the Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act.

Legislative History

Source: Laws 1949, c. 153, § 1(2), p. 392; Laws 1989, LB 319, § 69. Cross References: Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act, see section 44-4862.