Nebraska § 44-213 Employee, officer, trustee, or director of domestic company; salaries; length of contract; limitations; deferred payment of compensation; employee benefit plans

Nebraska Statutes

§ 44-213 — Employee, officer, trustee, or director of domestic company; salaries; length of contract; limitations; deferred payment of compensation; employee benefit plans

Nebraska § 44-213

Ch. 44Insurance

This text of Nebraska § 44-213 (Employee, officer, trustee, or director of domestic company; salaries; length of contract; limitations; deferred payment of compensation; employee benefit plans) 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. § 44-213 (2026).

Text

No domestic insurance company shall pay any salary, compensation, or emolument to any salaried employee or to any officer, trustee, or director thereof in excess of a reasonable return for the services performed or to be performed by such person. The shareholders of stock companies and the members of other companies shall retain the power at any meeting to alter or discontinue any employment agreement. No such company shall make an agreement with any salaried employee or with any officer, trustee, or director whereby it agrees that, for any services to be rendered, he or she shall receive any salary, compensation, or emolument that will extend beyond a period of five years from the date of such agreement, but any such company may make a conditional or unconditional agreement with any such 

Free access — add to your briefcase to read the full text and ask questions with AI

No domestic insurance company shall pay any salary, compensation, or emolument to any salaried employee or to any officer, trustee, or director thereof in excess of a reasonable return for the services performed or to be performed by such person. The shareholders of stock companies and the members of other companies shall retain the power at any meeting to alter or discontinue any employment agreement. No such company shall make an agreement with any salaried employee or with any officer, trustee, or director whereby it agrees that, for any services to be rendered, he or she shall receive any salary, compensation, or emolument that will extend beyond a period of five years from the date of such agreement, but any such company may make a conditional or unconditional agreement with any such person whereby it agrees that, in consideration of a current salary, compensation, or emolument of any amount less than a reasonable return for the services performed or to be performed by such person, he or she shall at specified future time or times, without regard to the five-year limitation set out in this section, receive, either without further condition or subject to reasonable contingencies, additional deferred salary, compensation, or emolument of any amount adequate to make the total thereof received by such person a reasonable return for the services performed by such person. Salary, compensation, and emolument as used in this section shall not include payments made pursuant to a plan for retirement, disability, sickness, accident, or death benefits.

Legislative History

Source: Laws 1913, c. 154, § 46, p. 418; R.S.1913, § 3182; Laws 1919, c. 190, tit. V, art. IV, § 17, p. 597; C.S.1922, § 7782; Laws 1925, c. 125, § 1, p. 331; C.S.1929, § 44-317; R.S.1943, § 44-213; Laws 1945, c. 106, § 1, p. 340; Laws 1953, c. 146, § 1, p. 470; Laws 1957, c. 176, § 1, p. 608; Laws 1961, c. 213, § 1, p. 631; Laws 1975, LB 374, § 1; Laws 1989, LB 92, § 59.