Nebraska § 44-5506.01 Nonadmitted insurer; certificate of authority; director; powers; provisions applicable

Nebraska Statutes

§ 44-5506.01 — Nonadmitted insurer; certificate of authority; director; powers; provisions applicable

Nebraska § 44-5506.01

Ch. 44Insurance

This text of Nebraska § 44-5506.01 (Nonadmitted insurer; certificate of authority; director; powers; provisions applicable) 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. § 44-5506.01 (2026).

Text

(1)The director may provide written authority in the form of a certificate of authority to operate as a domestic surplus lines insurer in the State of Nebraska to a nonadmitted insurer domiciled in this state if the director determines that such nonadmitted insurer:

(a)Possesses policyholder surplus of at least fifteen million dollars;

(b)Is an eligible surplus lines insurer in at least one state jurisdiction other than this state; and

(c)Is acting pursuant to a resolution passed by its board of directors seeking to be a domestic surplus lines insurer in this state.

(2)All financial and solvency requirements imposed by Chapter 44 upon a domestic admitted insurer shall apply to a domestic surplus lines insurer unless domestic surplus lines insurers are otherwise specifically exempted.

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(1) The director may provide written authority in the form of a certificate of authority to operate as a domestic surplus lines insurer in the State of Nebraska to a nonadmitted insurer domiciled in this state if the director determines that such nonadmitted insurer:
(a) Possesses policyholder surplus of at least fifteen million dollars;
(b) Is an eligible surplus lines insurer in at least one state jurisdiction other than this state; and
(c) Is acting pursuant to a resolution passed by its board of directors seeking to be a domestic surplus lines insurer in this state.
(2) All financial and solvency requirements imposed by Chapter 44 upon a domestic admitted insurer shall apply to a domestic surplus lines insurer unless domestic surplus lines insurers are otherwise specifically exempted.
(3) Policies issued by a domestic surplus lines insurer are not subject to the protections or other requirements of the Nebraska Property and Liability Insurance Guaranty Association Act or the Nebraska Life and Health Insurance Guaranty Association Act.

Legislative History

Source: Laws 2019, LB469, § 3. Cross References: Nebraska Life and Health Insurance Guaranty Association Act, see section 44-2720. Nebraska Property and Liability Insurance Guaranty Association Act, see section 44-2418.