44-213.01 Employee benefit plans; authorized; approval required. - Nebraska Statutes

44-213.01. Employee benefit plans; authorized; approval required.Domestic insurance companies may establish, participate in, or administer plans providing retirement, disability, sickness, accident, or death benefits for their employees, officers, or agents, or any reasonable classification thereof. Such plans may provide disability, sickness, accident, or group life benefits for dependents of any class covered or retired members of such classes. All plans which provide benefits upon or after retirement must be (1) adopted by a two-thirds vote of the members of the board of directors present at the meeting and (2) filed with and approved by the Director of Insurance. All other plans not providing benefits upon or after retirement must be approved by a two-thirds vote of the members of the board of directors of the company present at the meeting. SourceLaws 1953, c. 146, § 2, p. 471; Laws 1957, c. 176, § 2, p. 608; Laws 1959, c. 196, § 1, p. 703; Laws 1967, c. 264, § 1, p. 707.