State Codes and Statutes

State Codes and Statutes

Statutes > Nebraska > Chapter44 > 44-224_10

44-224.10. Reinsurance; consolidation; forfeiture of charter; when.Whenever any company operating on other than the stock plan reinsures all of its risk and business in bulk its charter shall be deemed forfeited to the State of Nebraska. Whenever any company enters into a contract of consolidation and thereby loses its separate identity, its charter shall be deemed forfeited to the State of Nebraska. SourceLaws 1957, c. 180, § 10, p. 624.