44-5606. Insurer; prohibited acts; copy of statement of financial condition; obtain.
105 words·~1 min read·
/ne/chapter-44/44-5606A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)An insurer shall not engage the services of any person, firm, association, or corporation to act as a reinsurance intermediary-broker on its behalf unless such person, firm, association, or corporation is licensed as required by subsection
(1)of section 44-5603 .
(2)An insurer may not employ a person who is employed by a reinsurance intermediary-broker with which it transacts business unless such reinsurance intermediary-broker is under common control with the insurer and subject to the Insurance Holding Company System Act.
(3)An insurer shall annually obtain a copy of statements of the financial condition of each reinsurance intermediary-broker with which it transacts business.