State Codes and Statutes

State Codes and Statutes

Statutes > Nebraska > Chapter44 > 44-402

44-402. Life insurance; annual valuation of reserves.The Department of Insurance shall annually value or cause to be valued the reserve liabilities, hereinafter called reserves, for all outstanding life insurance policies and annuity and pure endowment contracts of every domestic life insurance company doing business in this state and shall issue a certificate as to the amount of any such reserves. Any such company, which at any time has adopted any standard of valuation producing greater aggregate reserves than those calculated according to the minimum standard, may, with the approval of the department, adopt any lower standard of valuation but not lower than the minimum standard. SourceLaws 1913, c. 154, § 94, p. 437; R.S.1913, § 3231; Laws 1919, c. 190, tit. V, art. VI, § 2, p. 618; C.S.1922, § 7830; C.S.1929, § 44-502; Laws 1943, c. 106, § 1(1), p. 354; R.S.1943, § 44-402; Laws 1961, c. 221, § 1, p. 654; Laws 1989, LB 92, § 117; Laws 1996, LB 969, § 1.