44-360. Insurance companies; agreements affecting rates or lessening competition; prohibited; appeal.

If any insurance company authorized to transact business in this state or any agent or representative thereof shall, either within or outside this state, directly or indirectly, enter into any contract, understanding, or combination with any other insurance company, agent, or representative thereof or with any association of such companies or agents, for the purpose of controlling the rates to be charged for insuring any risk or class or classes of risks in this state or for the purpose of, or that may have the tendency or effect of, preventing or lessening lawful competition in the transaction of the business of insurance in this state, the Department of Insurance shall forthwith revoke its license and the licenses of its agents, and no renewal of the license shall be granted until after the expiration of one year from the date of final revocation. An appeal may be taken from the decision of the department, and the appeal shall be in accordance with the Administrative Procedure Act.

Source:Laws 1913, c. 154, § 50, p. 419; R.S.1913, § 3186; Laws 1919, c. 190, tit. V, art. IV, § 21, p. 598; C.S.1922, § 7786; C.S.1929, § 44-321; Laws 1935, c. 100, § 1, p. 329; C.S.Supp.,1941, § 44-321; R.S.1943, § 44-360; Laws 1969, c. 359, § 15, p. 1274; Laws 1988, LB 352, § 45.

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