Nebraska Revised Statute 44-5503

Revised Statutes » Chapter 44 » 44-5503
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44-5503. Surplus lines license; issuance.

The department, in consideration of the payment of the license fee, may issue a surplus lines license, revocable at any time, to any individual who currently holds an insurance producer license or to a foreign or domestic corporation. The corporate surplus lines license shall list all officers or employees of the corporation who currently hold an insurance producer license or meet the requirements for an individual surplus lines license and who have authority to transact surplus lines business on behalf of the corporation. Only individuals listed on the corporate surplus lines license shall transact surplus lines business on behalf of the corporate licensee. If the applicant is an individual, the application for the license shall include the applicant's social security number. The director may utilize the national insurance producer data base of the National Association of Insurance Commissioners, or any other equivalent uniform national data base, for the licensure of an individual or an entity as a surplus lines producer and for renewal of such license.

Source

    Laws 1913, c. 154, § 25, p. 408;
    R.S.1913, § 3161;
    Laws 1919, c. 190, tit. V, art. III, § 18, p. 587;
    C.S.1922, § 7762;
    C.S.1929, § 44-218;
    R.S.1943, § 44-139;
    Laws 1955, c. 168, § 3, p. 479;
    Laws 1978, LB 836, § 1;
    Laws 1989, LB 92, § 29;
    R.S.Supp.,1990, § 44-139;
    Laws 1992, LB 1006, § 3;
    Laws 1997, LB 752, § 113;
    Laws 2001, LB 51, § 38;
    Laws 2002, LB 1139, § 36;
    Laws 2011, LB70, § 2.

Annotations

Insurance companies and agents are forbidden to procure or effect fire insurance in companies not licensed to write it. Naeve v. Shea, 128 Neb. 374, 258 N.W. 666 (1935).