Nebraska § 44-8203 Terms, defined

Nebraska Statutes

§ 44-8203 — Terms, defined

Nebraska § 44-8203

Ch. 44Insurance

This text of Nebraska § 44-8203 (Terms, defined) 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. § 44-8203 (2026).

Text

For purposes of the Captive Insurers Act:

(1)Affiliated entity means any entity that directly or indirectly controls, is controlled by, or is under common control with a captive insurer;

(2)Captive insurer means a domestic insurer authorized under the act to provide insurance and reinsurance to its parent, any affiliated entity, or both. Such insurance and reinsurance shall be limited to the risks, hazards, and liabilities of its parent and affiliated entities;

(3)Control means the power to direct or cause the direction of the management and policies of an entity through ownership of voting securities;

(4)Director means the Director of Insurance; and

(5)Parent means an entity that directly or indirectly owns, controls, or holds, with power to vote, more than fifty percent of the outst

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For purposes of the Captive Insurers Act:
(1) Affiliated entity means any entity that directly or indirectly controls, is controlled by, or is under common control with a captive insurer;
(2) Captive insurer means a domestic insurer authorized under the act to provide insurance and reinsurance to its parent, any affiliated entity, or both. Such insurance and reinsurance shall be limited to the risks, hazards, and liabilities of its parent and affiliated entities;
(3) Control means the power to direct or cause the direction of the management and policies of an entity through ownership of voting securities;
(4) Director means the Director of Insurance; and
(5) Parent means an entity that directly or indirectly owns, controls, or holds, with power to vote, more than fifty percent of the outstanding voting securities or other ownership interest of a captive insurer.