44-202.01. Insurance companies; licensed on August 25, 1989; continuance of authority.
183 words·~1 min read·
/ne/chapter-44/44-202-01A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
An insurer holding a valid certificate of authority to transact insurance in this state immediately prior to August 25, 1989, may continue to be authorized to transact the same lines of insurance permitted by such certificate of authority by maintaining thereafter the same amount of paid-in capital stock, if a stock insurer, or the same amount of surplus, if a mutual insurer, as required by the laws of this state for such authority immediately prior to such date, except that if such insurer, on or after such date, is determined by the director to be maintaining an amount which complies with the requirements as to capital and surplus as provided in sections 44-214 , 44-219 , and 44-243 , then such insurer shall continue to comply with such requirements.
On and after such date the insurer shall not be granted authority to transact any other or additional line of insurance unless it then fully complies with the requirements as to capital and surplus as provided by sections 44-214 , 44-219 , and 44-243 with respect to insurers applying for original certificates of authority.