Nebraska § 44-2404 Nebraska Property and Liability Insurance Guaranty Association; legal entity; members; functions

Nebraska Statutes

§ 44-2404 — Nebraska Property and Liability Insurance Guaranty Association; legal entity; members; functions

Nebraska·Ch. 44 Insurance

There is hereby created a nonprofit unincorporated legal entity to be known as the Nebraska Property and Liability Insurance Guaranty Association. All insurers defined as member insurers in subdivision (6) of section 44-2403 shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association shall perform its functions under a plan of operation established and approved pursuant to section 44-2408 and shall exercise its powers through a board of directors established by section 44-2405 . For purposes of administration and assessment, the association shall be divided into three separate accounts:

(a)The workers' compensation insurance account;

(b)the automobile insurance account; and (c) the account for all other insura

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There is hereby created a nonprofit unincorporated legal entity to be known as the Nebraska Property and Liability Insurance Guaranty Association. All insurers defined as member insurers in subdivision (6) of section 44-2403 shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association shall perform its functions under a plan of operation established and approved pursuant to section 44-2408 and shall exercise its powers through a board of directors established by section 44-2405 . For purposes of administration and assessment, the association shall be divided into three separate accounts: (a) The workers' compensation insurance account; (b) the automobile insurance account; and (c) the account for all other insurance to which the Nebraska Property and Liability Insurance Guaranty Association Act applies.

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