Nebraska § 44-223 Insurance companies; incorporators and directors; liability

Nebraska Statutes

§ 44-223 — Insurance companies; incorporators and directors; liability

Nebraska § 44-223

Ch. 44Insurance

This text of Nebraska § 44-223 (Insurance companies; incorporators and directors; liability) 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. § 44-223 (2026).

Text

The original incorporators, until the election of directors, and thereafter the directors shall be jointly and severally liable for any losses incurred during the following time or times:

(1)For the excess of any policy above the maximum single risks prescribed by section 44-222 during the time that such policy exceeds such maximum single risks;

(2)for any losses occurring upon any new risk taken after the expiration of the period designated by the Department of Insurance in accordance with sections 44-120 to 44-124 in which to make good any deficiency; and (3) for all debts and liabilities contracted prior to the time the company received its certificate of authority.

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The original incorporators, until the election of directors, and thereafter the directors shall be jointly and severally liable for any losses incurred during the following time or times: (1) For the excess of any policy above the maximum single risks prescribed by section 44-222 during the time that such policy exceeds such maximum single risks; (2) for any losses occurring upon any new risk taken after the expiration of the period designated by the Department of Insurance in accordance with sections 44-120 to 44-124 in which to make good any deficiency; and (3) for all debts and liabilities contracted prior to the time the company received its certificate of authority.

Legislative History

Source: Laws 1913, c. 154, § 89, p. 432; R.S.1913, § 3226; Laws 1919, c. 190, tit. V, art. V, § 12, p. 612; C.S.1922, § 7825; C.S.1929, § 44-412; R.S.1943, § 44-223; Laws 1959, c. 198, § 1, p. 706; Laws 1989, LB 92, § 71.