20-581. Deposits of insurers The state treasurer shall accept and hold in trust, when made through the director, deposits of securities or funds by insurers as follows: 1. Deposits required for authority to transact insurance in this state. 2. Deposits of domestic, foreign or alien insurers when made pursuant to the laws of other states, […]
20-582. Purpose of deposits Deposits made under the provisions of section 20-581, shall be held for purposes as follows: 1. When the deposit is required for authority to transact insurance in this state the deposit shall be held for the protection of all the insurer’s policyholders within the United States. 2. When the deposit is […]
20-583. Assets eligible for deposit A. All deposits required for authority to transact insurance in this state shall consist of cash or any combination of the securities described in the following sections: section 20-537, section 20-538 and section 20-551, subsection A. The deposits by domestic stock life and disability insurers only or either of assets […]
20-584. Trust companies as depositaries Upon request of the insurer, the state treasurer may designate any solvent trust company or other solvent financial institution having trust powers domiciled in this state as the treasurer’s depositary to receive and hold any such deposit. Any such deposit so held shall be at the expense of the insurer.
20-585. Responsibility of state for safekeeping of deposits The state shall be responsible for the safekeeping and return of all funds and securities deposited pursuant to this title with the state treasurer or in any depositary so designated by him.
20-586. Rights of insurer during solvency As long as the insurer remains solvent and complies with this title it may: 1. Demand, receive, sue for and recover the income from the securities or cash deposited. 2. Exchange and substitute for the deposited cash or securities, or any part of the cash or securities, cash or […]
20-587. Excess deposits An insurer may so deposit cash or eligible securities in an amount exceeding its deposit required or otherwise permitted under this title by not more than one hundred thousand dollars, for the purpose of absorbing fluctuations in the value of securities held in its deposit, and to facilitate the exchange and substitution […]
20-588. Release of deposits A. Any deposit made in this state under this title shall be released and returned: 1. To the insurer upon extinguishment by reinsurance or otherwise of substantially all liability of the insurer for the security of which the deposit is held. 2. To the insurer to the extent such deposit is […]
20-589. Levy upon deposits prohibited; exception No judgment creditor or other claimant of an insurer shall levy upon any deposit held pursuant to this title, or upon any part thereof, but such levy may be permitted if so specified in the director’s order requiring the deposit pursuant to the retaliatory provision set forth in section […]
