2021 Nebraska Revised Statutes
Chapter 44 - Insurance
44-386.06 - Unincorporated mutual associations; cease and desist orders; misappropriation of funds; director; duties.

Universal Citation: NE Code § 44-386.06 (2021)

44-386.06. Unincorporated mutual associations; cease and desist orders; misappropriation of funds; director; duties.

If, after the hearing provided for in section 44-386.05, the Director of Insurance finds that any rule or regulation adopted and promulgated pursuant to section 44-386.08 or any statute is being violated, he or she may issue an order to cease and desist all business of the association or any activity connected therewith until such time as corrective measures have been taken. If the director determines that any officer or member has misappropriated any funds or wrongfully converted any funds to his or her own use, he or she shall refer the matter to the county attorney of the county in which the books of the association are kept for prosecution by the county attorney under the applicable criminal statutes.

Source

  • Laws 1969, c. 367, § 5, p. 1306;
  • Laws 1989, LB 92, § 107.

Disclaimer: These codes may not be the most recent version. Nebraska may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.