44-3106 Certificate of authority; issued, when; minimum surplus. - Nebraska Statutes

State Codes and Statutes

Statutes > Nebraska > Chapter44 > 44-3106

44-3106. Certificate of authority; issued, when; minimum surplus.No professional association mutual insurance company shall be issued a certificate of authority to do any business in this state until it has filed with the director acceptable evidence that it has and will maintain a minimum surplus aggregating at least five hundred thousand dollars in cash in the investments authorized under the Insurers Investment Act or a letter of credit issued by a Nebraska banking institution in accordance with loan restrictions prescribed by the laws of this state. SourceLaws 1978, LB 656, § 6; Laws 1991, LB 237, § 68. Cross ReferencesInsurers Investment Act, see section 44-5101.

State Codes and Statutes

Statutes > Nebraska > Chapter44 > 44-3106

44-3106. Certificate of authority; issued, when; minimum surplus.No professional association mutual insurance company shall be issued a certificate of authority to do any business in this state until it has filed with the director acceptable evidence that it has and will maintain a minimum surplus aggregating at least five hundred thousand dollars in cash in the investments authorized under the Insurers Investment Act or a letter of credit issued by a Nebraska banking institution in accordance with loan restrictions prescribed by the laws of this state. SourceLaws 1978, LB 656, § 6; Laws 1991, LB 237, § 68. Cross ReferencesInsurers Investment Act, see section 44-5101.

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State Codes and Statutes

Statutes > Nebraska > Chapter44 > 44-3106

44-3106. Certificate of authority; issued, when; minimum surplus.No professional association mutual insurance company shall be issued a certificate of authority to do any business in this state until it has filed with the director acceptable evidence that it has and will maintain a minimum surplus aggregating at least five hundred thousand dollars in cash in the investments authorized under the Insurers Investment Act or a letter of credit issued by a Nebraska banking institution in accordance with loan restrictions prescribed by the laws of this state. SourceLaws 1978, LB 656, § 6; Laws 1991, LB 237, § 68. Cross ReferencesInsurers Investment Act, see section 44-5101.