44-207. Insurance companies; formation; executive officers; qualifications.

Insurance companies hereafter organizing under the laws of this state are required to have as their executive officers persons who are known to be capable of running the affairs of an insurance company. The requirements shall consist of good character and known business ability, the latter requirement including a practical knowledge of the executive duties of conducting an insurance business.

Source:Laws 1921, c. 305, § 1, p. 963; C.S.1922, § 7817; C.S.1929, § 44-404; R.S.1943, § 44-207.