Nebraska § 44-224.04 Domestic stock company merger;
contract; approval

Nebraska Statutes

§ 44-224.04 — Domestic stock company merger; contract; approval

Nebraska § 44-224.04

Ch. 44Insurance

This text of Nebraska § 44-224.04 (Domestic stock company merger; contract; approval) 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. § 44-224.04 (2026).

Text

Any domestic stock insurance company
may merge with another stock insurer after the contract of merger is approved
by the director. The director shall not approve any such contract of merger
unless the interests of the policyholders or shareholders of both parties
thereto are properly protected. If the director does not approve the contract
of merger, he or she shall issue a written order of disapproval setting forth
his or her findings. After having obtained the approval of the director, the
contract of merger shall be consummated in the manner set forth in the Nebraska Model Business Corporation Act for
the merger or consolidation of stock corporations.

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Any domestic stock insurance company
may merge with another stock insurer after the contract of merger is approved
by the director. The director shall not approve any such contract of merger
unless the interests of the policyholders or shareholders of both parties
thereto are properly protected. If the director does not approve the contract
of merger, he or she shall issue a written order of disapproval setting forth
his or her findings. After having obtained the approval of the director, the
contract of merger shall be consummated in the manner set forth in the Nebraska Model Business Corporation Act for
the merger or consolidation of stock corporations.

Legislative History

Source: Laws 1957, c. 180, § 4, p. 621; Laws 1969, c. 362, § 1, p. 1286; Laws 1976, LB 916, § 1; Laws 1989, LB 92, § 74; Laws 1995, LB 109, § 219; Laws 2014, LB749, § 285. Cross References: Nebraska Model Business Corporation Act, see section 21-201.