44-212 Insurance companies; officers; elections; terms; salaries. - Nebraska Statutes

44-212. Insurance companies; officers; elections; terms; salaries.The directors of every stock company and the board of directors or members of every mutual company or assessment association may elect such officers as are necessary to conduct the business of the company, including a president, secretary, and treasurer, and employ such other officers and employees as may be required to carry on the business of the company and may fix their terms of office or employment and their salaries and compensation, but such action shall not be in conflict with the provisions of law relating thereto. SourceLaws 1913, c. 154, § 29, p. 411; R.S.1913, § 3165; Laws 1919, c. 190, tit. V, art. III, § 21, p. 590; C.S.1922, § 7765; C.S.1929, § 44-221; R.S.1943, § 44-212; Laws 1989, LB 92, § 58. AnnotationsBasic authority for fixing salaries of employees was vested in board of directors. Ledwith v. Bankers Life Ins. Co., 156 Neb. 107, 54 N.W.2d 409 (1952).