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).