Nebraska became the 29th state to either establish a self-storage limited-lines insurance license or provide a statutory exemption from licensing on April 17 when Gov. Pete Ricketts signed Legislative Bill 1012 (LB 1012) into law. The measure allows limited licenses to be issued to storage facility owners, with employees and other company representatives also authorized to operate under the document. The law goes into effect on Oct. 1.
Application for a limited license must include a list of all self-storage facilities the applicant operates within the state, a list of employees who may act as an agent (if requested), a training program that meets state requirements and a confirmation certificate from the insurer.
Under the law, operators are prohibited from paying employees “any additional compensation, fee or commission dependent on the placement of insurance under the limited license.” They also can’t require purchase of tenant insurance through the facility as a condition to rent a unit.
The bill was supported by the Nebraska Self Storage Owners Association (NSSOA) and the national Self Storage Association (SSA). Bill Lange, president of the NSSOA, testified before lawmakers, according to an April 23 SSA e-mail newsletter to its members.
LB 1012 was introduced in January and passed through the legislature 45-0 on April 11.
The SSA is also pressing for tenant-insurance bills in Delaware and Pennsylvania.
Sources:
Nebraska Legislature, Legislative Bill 1012
The Monday Morning Globe 4/23/18, Wisconsin and Nebraska Score Big Legislative Storage Victories