Nebraska Administrative Code
Topic - INSURANCE, DEPARTMENT OF
Title 210 - NEBRASKA DEPARTMENT OF INSURANCE
Chapter 56 - ANNUAL AUDITED FINANCIAL REPORTS
Section 210-56-010 - Notification of adverse financial condition

010.01 The Insurer required to furnish the annual Audited financial report shall require the independent certified public accountant to report in writing, within five (5) business days to the board of directors or its Audit committee, any determination by the independent certified public accountant that the Insurer has materially misstated its financial condition as reported to the Director as of the balance sheet date currently under audit or that the Insurer does not meet the minimum capital and surplus requirement of the Nebraska insurance statutes as of that date. An Insurer who has received a report pursuant to this paragraph shall forward a copy of the report to the Director within five (5) business days of receipt of such report and shall provide the independent certified public accountant making the report with evidence of the report being furnished to the Director. If the independent certified public accountant fails to receive such evidence within the required five (5) business day period, the independent certified public accountant shall furnish to the Director a copy of its report within the next five (5) business days.

010.02 No independent certified public accountant shall be liable in any manner to any person for any statement made in connection with the above paragraph if such statement is made in good faith in compliance with Section 010.01.

010.03 If the accountant, subsequent to the date of this Audited financial report filed pursuant to this Rule, becomes aware of facts which might have affected his report, the Department notes the obligation of the accountant to take such action as prescribed in Volume 1, Section AU 561 of the Professional Standards of the AICPA; as amended