Nebraska § 44-4840 Claims of surety

Nebraska Statutes

§ 44-4840 — Claims of surety

Nebraska § 44-4840

Ch. 44Insurance

This text of Nebraska § 44-4840 (Claims of surety) 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. § 44-4840 (2026).

Text

Whenever a creditor whose claim against an insurer is secured in whole or in part by the undertaking of another person fails to prove and file the claim, the other person may do so in the creditor's name and shall be subrogated to the rights of the creditor, whether the claim has been filed by the creditor or by the other person in the creditor's name, to the extent that he or she discharges the undertaking. In the absence of an agreement with the creditor to the contrary, the other person shall not be entitled to any distribution until the amount paid to the creditor on the undertaking plus the distributions paid on the claim from the insurer's estate to the creditor equals the amount of the entire claim of the creditor. Any excess received by the creditor shall be held by him or her in t

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Whenever a creditor whose claim against an insurer is secured in whole or in part by the undertaking of another person fails to prove and file the claim, the other person may do so in the creditor's name and shall be subrogated to the rights of the creditor, whether the claim has been filed by the creditor or by the other person in the creditor's name, to the extent that he or she discharges the undertaking. In the absence of an agreement with the creditor to the contrary, the other person shall not be entitled to any distribution until the amount paid to the creditor on the undertaking plus the distributions paid on the claim from the insurer's estate to the creditor equals the amount of the entire claim of the creditor. Any excess received by the creditor shall be held by him or her in trust for such other person. The term other person as used in this section shall not apply to a guaranty association or foreign guaranty association.