State Codes and Statutes

State Codes and Statutes

Statutes > Nebraska > Chapter44 > 44-6123

44-6123. Legislative findings and declarations.The Legislature finds and declares that it is in the public interest that a domestic mutual insurer be permitted to reorganize in a manner that preserves attributes of its mutuality while facilitating capital raising abilities and corporate affiliations on terms and conditions that are fair and equitable to the mutual insurer's policyholders. The Legislature further finds that because policyholders of a mutual insurer have membership interests in the mutual insurer, the director should have broad authority in reviewing a reorganization and the procedures and criteria to be applied by the director should be flexible within the parameters of the Mutual Insurance Holding Company Act. The act shall be liberally construed to effect the legislative intent set forth in this section and shall not be interpreted to limit the powers granted to the director by other provisions of the law. SourceLaws 1997, LB 740, § 2.