Nebraska § 44-803 Assessments; limitations

Nebraska Statutes

§ 44-803 — Assessments; limitations

Nebraska § 44-803

Ch. 44Insurance

This text of Nebraska § 44-803 (Assessments; limitations) 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. § 44-803 (2026).

Text

Any assessment association which has accumulated and maintains the same reserve for liabilities that is required of a stock or mutual company organized to transact the same business, and either a surplus or a contingency fund equal to the surplus required to be maintained by a stock or mutual company organized to transact the same business, may, in its bylaws or policies, limit the liability of its members for future assessments, but such limitation shall not be less than the amount of one assessment equal to the regular assessment specified in the policy. All assessments shall be made by the board of directors unless otherwise provided in the articles of association or the bylaws.

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

Any assessment association which has accumulated and maintains the same reserve for liabilities that is required of a stock or mutual company organized to transact the same business, and either a surplus or a contingency fund equal to the surplus required to be maintained by a stock or mutual company organized to transact the same business, may, in its bylaws or policies, limit the liability of its members for future assessments, but such limitation shall not be less than the amount of one assessment equal to the regular assessment specified in the policy. All assessments shall be made by the board of directors unless otherwise provided in the articles of association or the bylaws.

Legislative History

Source: Laws 1913, c. 154, § 125, p. 463; R.S.1913, § 3262; Laws 1919, c. 190, tit. V, art. X, § 2, p. 644; C.S.1922, § 7861; C.S.1929, § 44-902; Laws 1935, c. 95, § 1, p. 318; C.S.Supp.,1941, § 44-902; R.S.1943, § 44-803.