Nebraska Statutes 44-5145. Equipment
An insurer may invest in equipment or interests in equipment wholly situated or maintained in the United States and Canada which are mortgaged or otherwise encumbered by the insurer as security for a nonrecourse debt and which are leased under a lease contract if:
Terms Used In Nebraska Statutes 44-5145
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
- 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
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- United States: shall include territories, outlying possessions, and the District of Columbia. See Nebraska Statutes 49-801
(1) The annual lease payments to the lessor are sufficient to repay the full cost of the financing thereof within the unexpired term of the lease; and
(2) The lessee or ultimate guarantor of any lease securing the obligation is an entity the obligations of which are authorized investments under sections 44-5123 to 44-5131.
An insurer’s investments authorized under this section shall not exceed five percent of its admitted assets.