Any person who is the beneficial owner of more than ten percent of the equity securities
of any class of a domestic stock insurer and any officer or director of a domestic
stock insurer who shall purchase or hold the stock of such insurer shall report such
purchase or holding to such domestic stock insurer. Such report shall be filed with such insurer within five days after a person becomes
an officer, director or such beneficial owner and not later than the close of the
calendar month in which there has been a change in such ownership. Failure of any individual to report such ownership or purchase shall relieve the insurer
of the duties prescribed in section 44-3,107 unless the insurer knows or should have known that the purchase was made by an officer,
director, or beneficial owner of more than ten percent of the equity securities of
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?
Response sent, thank you
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.