Nebraska § 44-602 Over-insurance; procurement unlawful

Nebraska Statutes

§ 44-602 — Over-insurance; procurement unlawful

Nebraska § 44-602

Ch. 44Insurance

This text of Nebraska § 44-602 (Over-insurance; procurement unlawful) 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. § 44-602 (2026).

Text

It shall be unlawful for any party having an insurable interest in property located in this state to knowingly procure any fire insurance policy upon his interest in such property, for an amount in excess of the fair value of his interest in the property, or for an amount which, with any existing insurance thereon, exceeds the fair value of his interest in the property.

Free access — add to your briefcase to read the full text and ask questions with AI

Legislative History

Source: Laws 1913, c. 154, § 110, p. 454; R.S.1913, § 3247; Laws 1919, c. 190, tit. V, art. VIII, § 2, p. 635; C.S.1922, § 7846; C.S.1929, § 44-702; R.S.1943, § 44-602. Annotations: Where fire insurance policies issued by different insurers contain prohibitions against other insurance and prorating clauses, but no escape clauses, any loss is to be prorated. Kent v. Insurance Co. of North America, 189 Neb. 769, 205 N.W.2d 532 (1973).