44-2217. Officer, director, trustee; general provisions.
170 words·~1 min read·
/ne/chapter-44/44-2217A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)No person while serving as an elected or appointed officer, director, or trustee of a company licensed pursuant to sections 44-2201 to 44-2221 , nor any person serving on the board of managers, trustees, or directors of a separate account of such company shall receive either directly or indirectly any commission or other form of compensation which is related to the purchase or disposal of assets of such a company or of any of its separate accounts.
(2)Where the statutes or regulations of the place of domicile of a licensed company or applicant prevent compliance with the provisions of sections 44-2201 to 44-2221 and the regulations promulgated thereunder, such company shall advise the director in writing. If the statutes or regulations of the place of domicile provide a degree of protection to the contract holder and the public which is substantially equal to that protection provided by sections 44-2201 to 44-2221 and the regulations thereunder, the director may consider this as compliance with sections 44-2201 to 44-2221 .