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Code · Nebraska · Chapter 44 — Insurance

44-402.04. Life insurance; reserves; separate accounts; ownership by company.

93 words·~1 min read·/ne/chapter-44/44-402-04

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

Amounts allocated to a separate account in the exercise of the power granted by sections 44-402.01 to 44-402.05 shall be owned by the company, and the company shall not be, nor hold itself out to be, a trustee with respect to such amounts. If and to the extent so provided under the applicable contracts, that portion of the assets of any such separate account equal to the reserves and other contract liabilities with respect to such account shall not be chargeable with liabilities arising out of any other business the company may conduct.
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