44-394. Insurance companies; violations; general penalty.
127 words·~1 min read·
/ne/chapter-44/44-394A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any company or person who knowingly violates any provision of this chapter for which no penalty is provided, shall be guilty of a Class III misdemeanor.
An otherwise valid and authorized contract of insurance is not rendered void merely because it has not been approved by the Department of Insurance prior to its issuance. Equity Mut. Ins. Co. v. Allstate Ins. Co., 190 Neb. 515, 209 N.W.2d 592 (1973).
Rebating is a misdemeanor punishable by fine or imprisonment. Kortright v. Mutual Life Ins. Co., 123 Neb. 746, 243 N.W. 904 (1932).
Both the insurer and the agent may be punished under criminal law for the transfer of a premium note before the policy has been delivered. State Bank v. House, 114 Neb. 681, 209 N.W. 246 (1926).