Neb. Rev. Stat. § 44-2404

Current with changes from the 2024 legislative session enacted on or before 4/18/2024

Section 44-2404 - Nebraska Property and Liability Insurance Guaranty Association; legal entity; members; functions

There is hereby created a nonprofit unincorporated legal entity to be known as the Nebraska Property and Liability Insurance Guaranty Association. All insurers defined as member insurers in subdivision (6) of section 44-2403 shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association shall perform its functions under a plan of operation established and approved pursuant to section 44-2408 and shall exercise its powers through a board of directors established by section 44-2405. For purposes of administration and assessment, the association shall be divided into three separate accounts:

(a) The workers' compensation insurance account;

(b) the automobile insurance account; and

(c) the account for all other insurance to which the Nebraska Property and Liability Insurance Guaranty Association Act applies.

Neb. Rev. Stat. § 44-2404

Laws 1971, LB 722, § 4;
Laws 1974, LB 1014, § 2;
Laws 1986, LB 811, § 22.