State Codes and Statutes

State Codes and Statutes

Statutes > Nebraska > Chapter44 > 44-809

44-809. Membership fees; amount; purpose.Every such association may collect, at the time of the issuing of a policy, a membership fee not exceeding five dollars, and, if insuring property, a percentage of the amount insured not exceeding two and one-half percent, as an advance assessment, as the bylaws may provide. From the amount so collected, a contingency fund may be created, and such fund may be maintained and added to from any other funds collected by the company in the manner provided in the bylaws. SourceLaws 1913, c. 154, § 131, p. 464; R.S.1913, § 3268; Laws 1919, c. 190, tit. V, art. X, § 8, p. 645; C.S.1922, § 7867; C.S.1929, § 44-908; Laws 1931, c. 88, § 1, p. 249; C.S.Supp.,1941, § 44-908; R.S.1943, § 44-809.AnnotationsUnder facts herein, insurance company is not an assessment association. Western Life & Accident Co. v. State Ins. Board, 101 Neb. 152, 162 N.W. 530 (1917).