Nebraska § 44-1206 - Reserve; character; amount.
Full text of Nebraska Revised Statutes of Nebraska § 44-1206 — Reserve; character; amount., with citation guidance and answers to common questions.
§ 44-1206. Reserve; character; amount.
In addition to the requirement that a fund, in cash or invested as provided by law, be on deposit with the attorney as provided in subdivision (7) of section 44-1203, it shall be a further requirement that such beginning deposit be continually maintained with such attorney, and in addition thereto there shall at all times be maintained with such attorney as a reserve, a sum in cash or convertible securities equal to one hundred percent of the aggregate net unearned deposits collected and credited to the accounts of participating subscribers, plus such claim and loss reserves. In computing aggregate net unearned deposits, credit will be given for reinsurance in reputable solvent companies. If at any time the assets on deposit with the attorney shall not equal the fund necessary to be maintained as provided above and in addition thereto the reserves as computed herein, the subscribers or their attorney for them shall make up any deficiency. In case of workers' compensation insurance, the Department of Insurance may require of any such attorney a bond or deposit of money with a bank or trust company of this state for the purpose of securing deferred payments or installments for compensation benefits provided for by the Nebraska Workers' Compensation Act.
Frequently Asked Questions About Nebraska § 44-1206
What does Revised Statutes of Nebraska § 44-1206 cover?
Section 44-1206 ("Reserve; character; amount.") is part of the Revised Statutes of Nebraska, the codified statutory law of Nebraska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nebraska § 44-1206?
A common citation format is "Revised Statutes of Nebraska § 44-1206" (Nebraska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nebraska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nebraska official source linked on this page or consult a licensed Nebraska attorney.
How does Nebraska § 44-1206 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nebraska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nebraska.