44-3313. Incorporators; certificate of authority; application; contents.

255 words·~1 min read·/ne/chapter-44/44-3313

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

The incorporators shall file with the director an application for a certificate of authority to do business, which shall include or have attached the following:

(1)The names, addresses, and occupations of all incorporators, proposed directors, and officers;

(2)For corporate incorporators, their articles and bylaws and a list of the names, addresses, and occupations of their directors and principal officers and, for the three most recent years, their annual statements and reports;

(3)The proposed articles and bylaws;

(4)All agreements relating to the corporation to which any incorporator, or proposed director or officer is a party;

(5)The amount and sources of the funds available for organization expenses and the proposed arrangements for reimbursement and compensation of incorporators or other persons;

(6)The proposed compensation of directors and officers;

(7)The forms to be used for any contracts between the corporation and its members or other persons concerning the provision of services to insureds;

(8)The proposed minimum amount of surplus;

(9)The plan for conducting the insurance business including all of the following:

(a)The geographical area in which business is intended to be done;

(b)The types of legal expense insurance intended to be written including specification whether and to what extent indemnity rather than service benefits are to be provided;

(c)The proposed marketing methods; and

(d)To the extent required by the director, the proposed method for the establishment of premium rates and other charges to policyholders; and

(10)Such other documents or information as the director reasonably requires.