Nebraska § 44-415 Life insurance company; actual premium less than net premium; separate liability of company

Nebraska Statutes

§ 44-415 — Life insurance company; actual premium less than net premium; separate liability of company

Nebraska § 44-415

Ch. 44Insurance

This text of Nebraska § 44-415 (Life insurance company; actual premium less than net premium; separate liability of 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. § 44-415 (2026).

Text

When the actual premium hereafter charged for an insurance by any life insurance company doing business in this state is less than the net premium for such insurance, computed according to the table of mortality and rate of interest prescribed in section  44-403 , such company shall be charged as a separate liability with the value of an annuity, the amount of which shall equal the difference between such premium and the term of which, in years, shall equal the number of future annual payments due on such insurance at the date of the valuation. This section shall apply to policies and contracts issued prior to the operative date defined in section  44-407.07 .

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When the actual premium hereafter charged for an insurance by any life insurance company doing business in this state is less than the net premium for such insurance, computed according to the table of mortality and rate of interest prescribed in section 44-403 , such company shall be charged as a separate liability with the value of an annuity, the amount of which shall equal the difference between such premium and the term of which, in years, shall equal the number of future annual payments due on such insurance at the date of the valuation. This section shall apply to policies and contracts issued prior to the operative date defined in section 44-407.07 .

Legislative History

Source: Laws 1913, c. 154, § 99, p. 444; R.S.1913, § 3236; Laws 1919, c. 190, tit. V, art. VI, § 7, p. 625; C.S.1922, § 7835; C.S.1929, § 44-507; Laws 1943, c. 106, § 2, p. 358; R.S.1943, § 44-415.