Nebraska § 44-402.03 Life insurance; reserves; separate accounts; investment; transfer

Nebraska Statutes

§ 44-402.03 — Life insurance; reserves; separate accounts; investment; transfer

Nebraska § 44-402.03

Ch. 44Insurance

This text of Nebraska § 44-402.03 (Life insurance; reserves; separate accounts; investment; transfer) 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. § 44-402.03 (2026).

Text

(1)Except as may be provided with respect to reserves for guaranteed benefits, amounts allocated to any separate account and accumulations thereon may be invested and reinvested without regard to any requirements or limitations prescribed by the laws of this state governing the investments of life insurance companies and the investments in such separate account or accounts shall not be taken into account in applying investment limitations otherwise applicable to investments of such company.

(2)No investment in such separate accounts or in the domestic life insurance company's general investment account shall be transferred by sale, exchange, substitution, or otherwise from one account to another unless the director approves such transfer or unless the director has not disapproved the app

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(1) Except as may be provided with respect to reserves for guaranteed benefits, amounts allocated to any separate account and accumulations thereon may be invested and reinvested without regard to any requirements or limitations prescribed by the laws of this state governing the investments of life insurance companies and the investments in such separate account or accounts shall not be taken into account in applying investment limitations otherwise applicable to investments of such company.
(2) No investment in such separate accounts or in the domestic life insurance company's general investment account shall be transferred by sale, exchange, substitution, or otherwise from one account to another unless the director approves such transfer or unless the director has not disapproved the application for transfer within thirty days from filing. The application to transfer investments shall be on a form provided by the director.