Nebraska § 44-402.04 Life insurance; reserves; separate accounts; ownership by company

Nebraska Statutes

§ 44-402.04 — Life insurance; reserves; separate accounts; ownership by company

Nebraska § 44-402.04

Ch. 44Insurance

This text of Nebraska § 44-402.04 (Life insurance; reserves; separate accounts; ownership by company) 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. § 44-402.04 (2026).

Text

Amounts allocated to a separate account in the exercise of the power granted by sections  44-402.01  to  44-402.05  shall be owned by the company, and the company shall not be, nor hold itself out to be, a trustee with respect to such amounts. If and to the extent so provided under the applicable contracts, that portion of the assets of any such separate account equal to the reserves and other contract liabilities with respect to such account shall not be chargeable with liabilities arising out of any other business the company may conduct.

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Amounts allocated to a separate account in the exercise of the power granted by sections 44-402.01 to 44-402.05 shall be owned by the company, and the company shall not be, nor hold itself out to be, a trustee with respect to such amounts. If and to the extent so provided under the applicable contracts, that portion of the assets of any such separate account equal to the reserves and other contract liabilities with respect to such account shall not be chargeable with liabilities arising out of any other business the company may conduct.