Nebraska § 44-4312 - Risk management pool; deficiency; assessment required.

§ 44-4312. Risk management pool; deficiency; assessment required.

(1) If the assets of a risk management pool are at any time insufficient to enable the pool to discharge its liabilities and other obligations and to maintain adequate reserves and surpluses in accordance with reasonable determinations by the Department of Insurance, the pool shall make up the deficiency or the Director of Insurance shall order the pool to levy an assessment upon its members in an amount necessary to make up the deficiency.

(2) If the risk management pool fails to make up a deficiency or to make the required assessment of its members pursuant to subsection (1) of this section within thirty days after the Director of Insurance orders it to do so or if the deficiency is not fully made up within sixty days after the date on which such assessment is made or within such longer period of time as may be specified by the Director of Insurance, the pool shall be proceeded against in the same manner as provided for domestic insurers. The Director of Insurance shall have the same powers, duties, and limitations in such proceeding as are provided for in a proceeding against a domestic insurer.

(3) If the liquidation of a risk management pool is ordered, an assessment shall be levied upon its members for such amount as the Director of Insurance determines is necessary to discharge all liabilities of the pool, including the reasonable costs of liquidation.