§ 44-8504 — Limited lines insurance license; application; contents; period valid; fees

Nebraska § 44-8504

• Jurisdiction: Nebraska
• Ch. 44: Insurance

Text

(1) An application for a limited lines
insurance license shall be made to and filed with the director on forms prescribed
and furnished by the director.
(2) An application
for an initial or a renewal license shall:
(a) Provide the name, residence address,
and other information required by the director for an employee or authorized
representative of the vendor that is designated by the vendor as the person
responsible for the vendor's compliance with the Portable Electronics Insurance
Act. If the vendor derives more than fifty percent of its revenue from the
sale of portable electronics insurance, the information required by this subdivision
shall be provided for all persons of record having beneficial ownership of
ten percent or more of any class of securities of the vendor registered under
federal securities law; and
(b) Provide the location of the vendor's
home office.
(3) Any application for licensure under the act for an existing
vendor shall be made within ninety days after the application is made available
by the director.
(4) An initial license issued pursuant to the act shall be valid
for one year and expires on April 30 of each year.
(5) Any vendor licensed
under the act shall pay an initial license fee to the director in an amount
prescribed by the director but not to exceed one hundred dollars and shall
pay a renewal fee in an amount prescribed by the director but not to exceed
one hundred dollars.

Legislative History

Source: Laws 2011, LB535, § 4.