Nebraska § 44-308 Assessment life associations; new associations prohibited

Nebraska Statutes

§ 44-308 — Assessment life associations; new associations prohibited

Nebraska·Ch. 44 Insurance

No life insurance company or association, other than fraternal benefit society, which issues contracts, the performance of which is contingent upon the payment of assessments or calls made upon its members, shall be hereafter organized to do business within this state. All such companies or associations as are now licensed to do business within the state on such plans may continue and carry on the business of insurance on the plan under which they are organized and doing business July 17, 1913, without being required to value their assessment policies or certificates of membership as yearly renewal term contracts.

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

No life insurance company or association, other than fraternal benefit society, which issues contracts, the performance of which is contingent upon the payment of assessments or calls made upon its members, shall be hereafter organized to do business within this state. All such companies or associations as are now licensed to do business within the state on such plans may continue and carry on the business of insurance on the plan under which they are organized and doing business July 17, 1913, without being required to value their assessment policies or certificates of membership as yearly renewal term contracts.

Nebraska § 44-308 (Assessment life associations; new associations prohibited) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: Laws 1913, c. 154, § 150, p. 470; R.S.1913, § 3287; Laws 1919, c. 190, tit. V, art. XI, § 15, p. 652; C.S.1922, § 7894; C.S.1929, § 44-1115; R.S.1943, § 44-308; Laws 1987, LB 17, § 2.