Nebraska Revised Statute 44-3,123

Chapter 44 Section 3,123

44-3,123.

Possession of borrowed or rented securities; proceedings authorized.

If any insurance company or association is found in possession of stocks, bonds, debentures, notes, investment certificates, securities, or other obligations or evidences of indebtedness acquired in violation of section 44-3,119 or if any of its officers, directors, members, or attorneys in fact have been convicted under section 44-3,119, such company or association may be subject to suspension of its certificate of authority by the Director of Insurance. Nothing in this section shall be construed to prevent the Director of Insurance from proceeding against such insurance company or association in the manner authorized and directed by the Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act.

Source

  • Laws 1969, c. 352, § 5, p. 1232;
  • Laws 1989, LB 319, § 68.

Cross References

  • Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act, see section 44-4862.