44-8912. Director; exempt specific product forms or product lines; provisions applicable.
137 words·~1 min read·
/ne/chapter-44/44-8912A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)The director may exempt specific product forms or product lines of a domestic company that is licensed and doing business only in this state from the requirements of section 44-8908 if:
(a)The director has issued an exemption in writing to the company and has not subsequently revoked the exemption in writing; and
(b)The company computes reserves using assumptions and methods used prior to the operative date of the valuation manual designated in subsection
(2)of section 44-8908 in addition to any requirements established by the director and by rule and regulation.
(2)For any company granted an exemption under this section, sections 44-420 to 44-427 , 44-8906 , and 44-8907 shall be applicable. With respect to any company applying this exemption, any reference to section 44-8908 found in such sections shall not be applicable.