44-223. Insurance companies; incorporators and directors; liability.
110 words·~1 min read·
/ne/chapter-44/44-223A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.