Nebraska § 44-124 Domestic mutual company; assets; deficiency; service of notice; failure to restore; proceedings authorized

Nebraska Statutes

§ 44-124 — Domestic mutual company; assets; deficiency; service of notice; failure to restore; proceedings authorized

Nebraska·Ch. 44 Insurance

Such notice and requisition may be served by either registered or certified letter, having affixed the proper postage, and directed to the company at its principal place of business in this state. Upon the service of such notice and requisition, the directors and officers thereof shall forthwith cause such deficiency to be made good and proof thereof to be filed in the office of the Department of Insurance within the time specified in the 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 company shall be proceeded against in the manner authorized and directed by the Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act.

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Such notice and requisition may be served by either registered or certified letter, having affixed the proper postage, and directed to the company at its principal place of business in this state. Upon the service of such notice and requisition, the directors and officers thereof shall forthwith cause such deficiency to be made good and proof thereof to be filed in the office of the Department of Insurance within the time specified in the 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 company shall be proceeded against in the manner authorized and directed by the Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act.

Nebraska § 44-124 (Domestic mutual company; assets; deficiency; service of notice; failure to restore; proceedings authorized) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: Laws 1913, c. 154, § 10, p. 401; R.S.1913, § 3146; Laws 1919, c. 190, tit. V, art. III, § 3, p. 578; C.S.1922, § 7747; C.S.1929, § 44-203; R.S.1943, § 44-124; Laws 1957, c. 242, § 33, p. 846; Laws 1989, LB 319, § 64. Cross References: Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act, see section 44-4862.