Nebraska § 44-4827 Fraudulent transfer
after petition

Nebraska Statutes

§ 44-4827 — Fraudulent transfer after petition

Nebraska § 44-4827

Ch. 44Insurance

This text of Nebraska § 44-4827 (Fraudulent transfer after petition) 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. § 44-4827 (2026).

Text

(1)After a petition for rehabilitation or liquidation has been filed, a transfer of any of the real property of the insurer made to a person acting in good faith shall be valid against the receiver if made for a present fair equivalent value or, if not made for a present fair equivalent value, then to the extent of the present consideration actually paid therefor, for which amount the transferee shall have a lien on the property so transferred. The commencement of a proceeding in rehabilitation or liquidation shall be constructive notice upon the recording of a copy of the petition for or order of rehabilitation or liquidation with the register of deeds in the county where any real property in question is located. The exercise by a court of the United States or any state or jurisdiction t

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(1) After a petition for rehabilitation
or liquidation has been filed, a transfer of any of the real property of the
insurer made to a person acting in good faith shall be valid against the receiver
if made for a present fair equivalent value or, if not made for a present
fair equivalent value, then to the extent of the present consideration actually
paid therefor, for which amount the transferee shall have a lien on the property
so transferred. The commencement of a proceeding in rehabilitation or liquidation
shall be constructive notice upon the recording of a copy of the petition
for or order of rehabilitation or liquidation with the register of deeds in
the county where any real property in question is located. The exercise by
a court of the United States or any state or jurisdiction to authorize or
effect a judicial sale of real property of the insurer within any county in
any state shall not be impaired by the pendency of such a proceeding unless
the copy is recorded in the county prior to the consummation of the judicial
sale.
(2) After a petition for rehabilitation or liquidation has
been filed and before either the receiver takes possession of the property
of the insurer or an order of rehabilitation or liquidation is granted:
(a) A transfer of any of the property of the insurer, other
than real property, made to a person acting in good faith shall be valid against
the receiver if made for a present fair equivalent value or, if not made for
a present fair equivalent value, then to the extent of the present consideration
actually paid therefor, for which amount the transferee shall have a lien
on the property so transferred;
(b) A person indebted to the insurer or holding property of
the insurer may, if acting in good faith, pay the indebtedness or deliver
the property or any part thereof to the insurer or upon his or her order with
the same effect as if the petition were not pending;
(c) A person having actual knowledge of the pending rehabilitation
or liquidation shall be deemed not to act in good faith; and
(d) A person asserting the validity of a transfer under this
section shall have the burden of proof. Except as elsewhere provided in this
section, no transfer by or on behalf of the insurer after the date of the
petition for liquidation by any person other than the liquidator shall be
valid against the liquidator.
(3) Every person receiving any property from the insurer
or any benefit thereof which is a fraudulent transfer under subsection (1)
of this section shall be liable therefor and shall be bound to account to
the liquidator.
(4) Nothing in the Nebraska Insurers Supervision, Rehabilitation,
and Liquidation Act shall impair the negotiability of currency or negotiable
instruments.
(5) A receiver
may not avoid any transfer of, or any obligation to transfer, money or any
other property arising under or in connection with any Federal Home Loan Bank
security agreement, or any pledge, security, collateral or guarantee agreement
or any other similar arrangement or credit enhancement relating to such Federal
Home Loan Bank security agreement. However, a transfer may be avoided under
this subsection if it was made with actual intent to hinder, delay, or defraud
either existing or future creditors.