Nebraska § 44-5505 Nonadmitted insurer;
surplus lines licensee; record of business; contents; how kept

Nebraska Statutes

§ 44-5505 — Nonadmitted insurer; surplus lines licensee; record of business; contents; how kept

Nebraska § 44-5505

Ch. 44Insurance

This text of Nebraska § 44-5505 (Nonadmitted insurer; surplus lines licensee; record of business; contents; how kept) 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. § 44-5505 (2026).

Text

Each surplus lines licensee shall keep in the licensee's office a true and complete record of the business transacted by the licensee showing

(1)the exact amount of insurance or limits of exposure, (2) the gross premiums charged therefor, (3) the return premium paid thereon, (4) the rate of premium charged for such insurance, (5) the date of such insurance and terms thereof,

(6)the name and address of the nonadmitted insurer writing such insurance,

(7)a copy of the declaration page of each policy and a copy of each policy form issued by the licensee, (8) a copy of the written statement described in subdivision (1)(c) of section 44-5510 or, in lieu thereof, a copy of the application containing such written statement,

(9)the name of the insured, (10) the address of the principal reside

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Each surplus lines licensee shall keep in the licensee's office
a true and complete record of the business transacted by the licensee showing
(1) the exact amount of insurance or limits of exposure, (2) the gross premiums
charged therefor, (3) the return premium paid thereon, (4) the rate of premium
charged for such insurance, (5) the date of such insurance and terms thereof,
(6) the name and address of the nonadmitted insurer writing such insurance,
(7) a copy of the declaration page of each policy and a copy of each policy
form issued by the licensee, (8) a copy of the written statement described
in subdivision (1)(c) of section 44-5510
or, in lieu thereof, a copy of the application containing such written statement,
(9) the name of
the insured, (10) the address
of the principal residence of the insured or the address at which the insured
maintains its principal place of business, (11) a brief and general
description of the risk or exposure insured and where located, (12) documentation showing that the nonadmitted
insurer writing such insurance complies with the requirements of section 44-5508 ,
and (13) such other facts and
information as the department may direct and require. Such records shall be
kept by the licensee in the licensee's office within the state for not less
than five years and shall at all times be open and subject to the inspection
and examination of the department or its officers. The expense of any examination
shall be paid by the licensee.

Legislative History

Source: Laws 1913, c. 154, § 25, p. 409; R.S.1913, § 3161; Laws 1919, c. 190, tit. V, art. III, § 18, p. 588; C.S.1922, § 7762; C.S.1929, § 44-218; R.S.1943, § 44-141; Laws 1978, LB 836, § 3; Laws 1989, LB 92, § 31; R.S.Supp.,1990, § 44-141; Laws 1992, LB 1006, § 5; Laws 2005, LB 119, § 20; Laws 2011, LB70, § 4.