44-1206.01. Reserve; deficiency; notice; removal.
133 words·~1 min read·
/ne/chapter-44/44-1206-01A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Whenever it shall appear from any proper showing or from any examination made that the assets and resources of any domestic reciprocal insurance exchange are insufficient to meet the minimum conditions prescribed in section 44-1206 , the department may promptly determine the amount of such deficiency and thereupon issue a written notice and requisition to the attorney of such reciprocal exchange requiring that such deficiency be removed within a reasonable time not to exceed one hundred eighty days from the service of such notice and requisition.
If such deficiency shall not be made good within the time specified in the notice and requisition and satisfactory proof thereof filed with the department, such reciprocal exchange shall be proceeded against in the manner authorized and directed by the Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act.