Assessment Companies - Limit on Assessments
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Nebraska DOI Insurance Guidance Documents and Company Bulletins › Assessment Companies - Limit on Assessments
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State of Nebraska
J. JAMES EXON
Governor
DEPARTMENT OF INSURANCE
Lincoln 68509
M. BERRI BALKA
Director
December 19, 1978
CB-45
# BULLETIN
ASSESSMENT COMPANIES - LIMIT ON ASSESSMENTS
This bulletin is to notify all assessment companies of the limitations on assessments pursuant to §44-802 R.R.S. 1943.
1. Section 44-802 R.R.S. 1943 provides that assessments may be made "... for not more than one year in advance in accordance with the amount estimated by the board of directors to be necessary to meet the losses and expenses of the association for such period ..."
2. If an assessment association maintains the same reserves, surplus and contingency funds as required of a stock or mutual company writing the same kinds of insurance, then it may make assessments for more than one year in advance. However, assessments for an amount more than that necessary for losses and expenses for one year will not be allowed in other instances.
M. BERRI BALKA
Director of Insurance
This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.