Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Senate advances bill easing in-state director residency requirement for some insurance companies
Summary
The Legislature advanced LB325, which creates an affidavit-based exception to the statutory requirement that an insurance company domiciled in Nebraska have at least one in-state director. Supporters said the measure helps retain and attract large, publicly traded insurers domiciled in the state without reducing Department of Insurance oversight.
Senator Brad Jacobson, sponsor of LB325, told the Legislature the bill creates an exception to the statutory requirement that at least one director of an insurance corporation domiciled in Nebraska must be a state resident. Under the bill an insurance company may file a written affidavit with the Nebraska Department of Insurance to qualify for the exception if it meets multiple conditions, including having principal corporate executive officers located in Nebraska, being publicly traded or…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
