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Code · Nebraska · Chapter 44 — Insurance

44-224.10. Reinsurance; consolidation; forfeiture of charter; when.

56 words·~1 min read·/ne/chapter-44/44-224-10

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Whenever any company operating on other than the stock plan reinsures all of its risk and business in bulk its charter shall be deemed forfeited to the State of Nebraska. Whenever any company enters into a contract of consolidation and thereby loses its separate identity, its charter shall be deemed forfeited to the State of Nebraska.
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