Nebraska § 44-402.05 Variable life contracts; rules and regulations

Nebraska Statutes

§ 44-402.05 — Variable life contracts; rules and regulations

Nebraska § 44-402.05

Ch. 44Insurance

This text of Nebraska § 44-402.05 (Variable life contracts; rules and regulations) 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. § 44-402.05 (2026).

Text

Notwithstanding any other provision of law, the Director of Insurance shall have the authority to adopt such reasonable rules and regulations as are appropriate and necessary to regulate the issuance and sale of variable life contracts. Such rules and regulations may relate to, but shall not be limited to, qualifications of foreign and domestic insurance companies and agents, required and prohibited policy provisions, the inapplicability of certain sections of Chapter 44, to variable life contracts, establishment and maintenance of separate accounts, filing of contracts and required reports, and examination of records. Any provision in a variable life contract relating to grace period, loans, reinstatement, and nonforfeiture shall be appropriate to such contract, and reserve liability for 

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Notwithstanding any other provision of law, the Director of Insurance shall have the authority to adopt such reasonable rules and regulations as are appropriate and necessary to regulate the issuance and sale of variable life contracts. Such rules and regulations may relate to, but shall not be limited to, qualifications of foreign and domestic insurance companies and agents, required and prohibited policy provisions, the inapplicability of certain sections of Chapter 44, to variable life contracts, establishment and maintenance of separate accounts, filing of contracts and required reports, and examination of records. Any provision in a variable life contract relating to grace period, loans, reinstatement, and nonforfeiture shall be appropriate to such contract, and reserve liability for variable life contracts shall be established in accordance with actuarial procedures that recognize the variable nature of the benefits provided and any mortality guarantees.