Any hospital, whether within or without the state, shall be qualified to become a member of a hospital association incorporated under sections 44-2901 to 44-2918 if it is licensed either by the Department of Health and Human Services Regulation and Licensure or by the corresponding authority in the state in which the hospital is located, except that no hospital outside of this state may become a member of such an association until one year after March 31, 1976, nor may any risks outside this state be insured under the provisions of sections 44-2901 to 44-2918 until one year after the issuance of a certificate of authority to transact insurance business by the Department of Insurance. All such risks shall be subject to the prior approval of the Director of Insurance. In determining whether or not to grant approval for the insuring of risks outside of Nebraska, the Director of Insurance shall consider the following:
(1) Limits of indemnity;
(2) past and present loss experience of the hospital to be insured;
(3) statutes, court decisions, and the insurance climate of the jurisdiction in which the risk is located; and
(4) such other information as the director may deem relevant.