Nebraska § 44-707 Domestic company; contingency reserve

Nebraska Statutes

§ 44-707 — Domestic company; contingency reserve

Nebraska § 44-707

Ch. 44Insurance

This text of Nebraska § 44-707 (Domestic company; contingency reserve) 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. § 44-707 (2026).

Text

Any domestic life insurance company may accumulate and maintain, in addition to the net value of its policies and all accumulations held on account of existing or future dividends, policies, or groups of such policies, a contingency reserve of not more than twenty percent of said net value, or the sum of one hundred thousand dollars, whichever is the greater. For cause shown, the Department of Insurance may, at any time, and from time to time, permit any company to accumulate and maintain a larger contingency reserve, not exceeding one year under any one permission, by filing in the office of the department a written request stating the reasons therefor.

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Any domestic life insurance company may accumulate and maintain, in addition to the net value of its policies and all accumulations held on account of existing or future dividends, policies, or groups of such policies, a contingency reserve of not more than twenty percent of said net value, or the sum of one hundred thousand dollars, whichever is the greater. For cause shown, the Department of Insurance may, at any time, and from time to time, permit any company to accumulate and maintain a larger contingency reserve, not exceeding one year under any one permission, by filing in the office of the department a written request stating the reasons therefor.

Legislative History

Source: Laws 1913, c. 154, § 122, p. 462; R.S.1913, § 3259; Laws 1919, c. 190, tit. V, art. IX, § 5, p. 643; C.S.1922, § 7858; C.S.1929, § 44-805; R.S.1943, § 44-707; Laws 1947, c. 165, § 1, p. 472.