Nebraska § 44-2409 Director; duties

Nebraska Statutes

§ 44-2409 — Director; duties

Nebraska·Ch. 44 Insurance

(1)The director shall:

(a)Notify the association of the existence of any insolvent insurer not later than three days after he or she receives notice of the determination of the insolvency and order of liquidation pursuant to the Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act; and

(b)Upon request of the board of directors of the association, provide the association with a statement of the net direct written premiums of each member insurer.

(2)The director may:

(a)Suspend or revoke, after notice and hearing, the certificate of authority to transact insurance in this state of any member insurer that fails to pay an assessment when due, unless such payment was deferred by the association in the manner provided in the Nebraska Property and Liability Insurance Guaranty A

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(1) The director shall:
(a) Notify the association of the existence of any insolvent insurer not later than three days after he or she receives notice of the determination of the insolvency and order of liquidation pursuant to the Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act; and
(b) Upon request of the board of directors of the association, provide the association with a statement of the net direct written premiums of each member insurer.
(2) The director may:
(a) Suspend or revoke, after notice and hearing, the certificate of authority to transact insurance in this state of any member insurer that fails to pay an assessment when due, unless such payment was deferred by the association in the manner provided in the Nebraska Property and Liability Insurance Guaranty Association Act, or fails to comply with the plan of operation; and
(b) Revoke the designation of any servicing facility if he or she finds the claims are not being handled in good faith. Designation of a new servicing facility shall be accomplished in the manner set out in subdivision (1)(b) of section 44-2407 .

Nebraska § 44-2409 (Director; duties) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: Laws 1971, LB 722, § 9; Laws 1989, LB 319, § 73; Laws 2019, LB380, § 5. Cross References: Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act, see section 44-4862.