Nebraska § 44-5503 Surplus lines license;
issuance

Nebraska Statutes

§ 44-5503 — Surplus lines license; issuance

Nebraska·Ch. 44 Insurance

The department, in consideration of the
payment of the license fee, may issue a surplus lines license, revocable at
any time, to any individual who currently holds an insurance producer license
or to a foreign or domestic corporation. The corporate surplus lines license
shall list all officers or employees of the corporation who currently hold
an insurance producer license or meet the requirements for an individual surplus
lines license and who have authority to transact surplus lines business on
behalf of the corporation. Only individuals listed on the corporate surplus
lines license shall transact surplus lines business on behalf of the corporate
licensee. If the applicant is an individual, the application for the license
shall include the applicant's social security number. The director

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The department, in consideration of the
payment of the license fee, may issue a surplus lines license, revocable at
any time, to any individual who currently holds an insurance producer license
or to a foreign or domestic corporation. The corporate surplus lines license
shall list all officers or employees of the corporation who currently hold
an insurance producer license or meet the requirements for an individual surplus
lines license and who have authority to transact surplus lines business on
behalf of the corporation. Only individuals listed on the corporate surplus
lines license shall transact surplus lines business on behalf of the corporate
licensee. If the applicant is an individual, the application for the license
shall include the applicant's social security number. The director may utilize the national insurance producer
database of the National Association of Insurance Commissioners, or any other
equivalent uniform national database, for the licensure of an individual
or an entity as a surplus lines producer and for renewal of such license.

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Legislative History

Source: Laws 1913, c. 154, § 25, p. 408; R.S.1913, § 3161; Laws 1919, c. 190, tit. V, art. III, § 18, p. 587; C.S.1922, § 7762; C.S.1929, § 44-218; R.S.1943, § 44-139; Laws 1955, c. 168, § 3, p. 479; Laws 1978, LB 836, § 1; Laws 1989, LB 92, § 29; R.S.Supp.,1990, § 44-139; Laws 1992, LB 1006, § 3; Laws 1997, LB 752, § 113; Laws 2001, LB 51, § 38; Laws 2002, LB 1139, § 36; Laws 2011, LB70, § 2. Annotations: Insurance companies and agents are forbidden to procure or effect fire insurance in companies not licensed to write it. Naeve v. Shea, 128 Neb. 374, 258 N.W. 666 (1935).