Nebraska Statutes 44-243. All-lines insurer; minimum surplus; maintain; failure; effect
Except as provided in section 44-202.01, an all-lines insurer shall maintain a minimum surplus to policyholders, as defined in section 44-222, of at least two million dollars in the form of capital, if a stock insurance company, or in the form of surplus, if a mutual insurance company, in accordance with sections 44-214 and 44-219, respectively. Such an insurer shall not be subject to section 44-245 so long as its surplus to policyholders exceeds such minimum. Whenever the surplus to policyholders of such an insurer falls below such minimum, it shall be deemed to be an impaired insurer and shall automatically be subject to section 44-245.
Terms Used In Nebraska Statutes 44-243
- Company: shall include any corporation, partnership, limited liability company, joint-stock company, joint venture, or association. See Nebraska Statutes 49-801
- Insurer: shall include all companies, exchanges, societies, or associations whether organized on the stock, mutual, assessment, or fraternal plan of insurance and reciprocal insurance exchanges. See Nebraska Statutes 44-103