44-216. Mutual company; assessment association; articles of incorporation; contents.The articles of incorporation of a mutual company or an assessment association may limit the insurance to specified kinds or classes of property, lives, individuals, or liabilities within any subdivision of section 44-201 or the territory within which insurance shall be granted and shall provide the manner in which policyholders of a mutual company shall participate in the profits of the company.Source Laws 1913, c. 154, § 85, p. 430; R.S.1913, § 3222; Laws 1919, c. 190, tit. V, art. V, § 8, p. 610; C.S.1922, § 7821; C.S.1929, § 44-408; R.S.1943, § 44-216; Laws 1989, LB 92, § 62.
Nebraska Legal Code