Neb. Rev. Stat. §§ 44-223

Current with changes through the 2024 First Special Legislative Session

Section 44-223 - Insurance companies; incorporators and directors; liability

The original incorporators, until the election of directors, and thereafter the directors shall be jointly and severally liable for any losses incurred during the following time or times:

(1) For the excess of any policy above the maximum single risks prescribed by section 44-222 during the time that such policy exceeds such maximum single risks;

(2) for any losses occurring upon any new risk taken after the expiration of the period designated by the Department of Insurance in accordance with sections 44-120 to 44-124 in which to make good any deficiency; and

(3) for all debts and liabilities contracted prior to the time the company received its certificate of authority.

Neb. Rev. Stat. §§ 44-223

Laws 1913, c. 154, § 89, p. 432; R.S.1913, § 3226; Laws 1919, c. 190, tit. V, art. V, § 12, p. 612; C.S.1922, § 7825; C.S.1929, § 44-412; R.S.1943, § 44-223; Laws 1959, c. 198, § 1, p. 706; Laws 1989, LB 92, § 71.