Nebraska § 44-319.12 Securities; liquidation; effect

Nebraska Statutes

§ 44-319.12 — Securities; liquidation; effect

Nebraska § 44-319.12

Ch. 44Insurance

This text of Nebraska § 44-319.12 (Securities; liquidation; effect) 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. § 44-319.12 (2026).

Text

All securities heretofore or hereafter deposited with the Department of Insurance by any incorporated or unincorporated insurer or assessment association shall become the property of the State of Nebraska in the event such securities remain unclaimed for a period of not less than seven years following the effective date of a voluntary or involuntary liquidation, merger, consolidation, or total reinsurance thereof. It shall be the duty of the director to take necessary action to transfer the proceeds of such securities to the State Treasurer who shall, upon receipt thereof, deposit such proceeds to the account of the state General Fund.

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All securities heretofore or hereafter deposited with the Department of Insurance by any incorporated or unincorporated insurer or assessment association shall become the property of the State of Nebraska in the event such securities remain unclaimed for a period of not less than seven years following the effective date of a voluntary or involuntary liquidation, merger, consolidation, or total reinsurance thereof. It shall be the duty of the director to take necessary action to transfer the proceeds of such securities to the State Treasurer who shall, upon receipt thereof, deposit such proceeds to the account of the state General Fund.