Nebraska Revised Statute 44-809

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Chapter 44

44-809.

Membership fees; amount; purpose.

Every such association may collect, at the time of the issuing of a policy, a membership fee not exceeding five dollars, and, if insuring property, a percentage of the amount insured not exceeding two and one-half percent, as an advance assessment, as the bylaws may provide. From the amount so collected, a contingency fund may be created, and such fund may be maintained and added to from any other funds collected by the company in the manner provided in the bylaws.

Source

  • Laws 1913, c. 154, § 131, p. 464;
  • R.S.1913, § 3268;
  • Laws 1919, c. 190, tit. V, art. X, § 8, p. 645;
  • C.S.1922, § 7867;
  • C.S.1929, § 44-908;
  • Laws 1931, c. 88, § 1, p. 249;
  • C.S.Supp.,1941, § 44-908;
  • R.S.1943, § 44-809.

Annotations

  • Under facts herein, insurance company is not an assessment association. Western Life & Accident Co. v. State Ins. Board, 101 Neb. 152, 162 N.W. 530 (1917).