Nebraska Revised Statute 44-217

Chapter 44 Section 217

44-217.

Mutual company; assessment association; membership; voting.

Each person, corporation, association, partnership, or limited liability company owning a policy or policies of insurance issued by a mutual company or an assessment association shall be a member thereof and have one vote.

Source

  • Laws 1913, c. 154, § 83, p. 429;
  • R.S.1913, § 3220;
  • Laws 1919, c. 190, tit. V, art. V, § 6, p. 610;
  • C.S.1922, § 7819;
  • C.S.1929, § 44-406;
  • R.S.1943, § 44-217;
  • Laws 1989, LB 92, § 63;
  • Laws 1993, LB 121, § 220.

Annotations

  • The provision that guarantees full rights of subscription to the members of a mutual insurance company, transformed into a stock company, refers to the policyholders of the former mutual company. Leininger v. North Am. Nat. Life Ins. Co., 115 Neb. 801, 215 N.W. 167 (1927).