Nebraska Revised Statutes Chapter 44. Insurance § 44-6128. Plan of reorganization; approval; director; order

(1) The director shall issue an order approving or disapproving a proposed plan of reorganization within thirty days after the close of the public hearing as required by section 44-6127.

(2) The director shall not approve a proposed plan of reorganization unless he or she finds that:

(3) If the director approves a plan of reorganization, the director shall also publish notification of the issuance of the order in a legal newspaper in Lancaster County and in the county of domicile of the mutual insurer if different than Lancaster County.

(4) If the director approves a plan of reorganization, the approval shall expire if the reorganization is not completed within one hundred eighty days after the date of approval unless extended by the director for good cause.

(5) If the director disapproves a plan of reorganization, the director shall issue an order setting forth specific findings for the disapproval.