Alaska Statutes Title 21, Chapter 21.22 - Insurance Holding Companies

• Sec. 21.22.010 Filing Requirements for Acquisition of Control of or Merger With Domestic Insurer.
  (a) Until the provisions of (b) of this section have been fulfilled, a person may not(1) unless the person is an issuer, make a...
• Sec. 21.22.020 Content of Statement for Acquisition or Merger Filing.
  (a) The statement to be filed with the director under AS 21.22.010 shall be made under oath or affirmation and must contain the following...
• Sec. 21.22.030 Hearing, Findings, and Approval.
  (a) The director shall approve a merger or other acquisition of control referred to in AS 21.22.010 unless, after a public hearing, the director...
• Sec. 21.22.040 Mailings to Shareholders and Expenses.
  All statements, amendments, or other material filed under AS 21.22.010, and all notices of public hearings held under AS 21.22.030 , shall be mailed...
• Sec. 21.22.050 Jurisdiction and Consent to Service.
  The courts of this state are given jurisdiction over every person not resident, domiciled, or authorized to do business in this state who files...
• Sec. 21.22.060 Registration Required.
  (a) Except as provided in (c) of this section, an insurer that is authorized to do business in this state and that is a...
• Sec. 21.22.065 Acquisitions Involving Change of Control.
  (a) Unless exempted in (j) of this section, this section applies to any acquisition in which there is a change in control of an...
• Sec. 21.22.070 Review by Director.
  If at any time the director determines that any material transaction entered into between an insurer and any of its affiliates does not meet...
• Sec. 21.22.080 Transactions Within an Insurance Holding Company System.
  Material transactions by registered insurers with their affiliates are subject to the following standards:(1) the terms shall be fair and reasonable;(2) charges or fees...
• Sec. 21.22.085 Transactions Involving a Domestic Insurer Requiring Director Review.
  (a) Transactions involving a domestic insurer and a person in its insurance holding company system, including amendments or modifications of affiliate agreements previously filed...
• Sec. 21.22.090 Adequacy of Surplus.
  For the purposes of this chapter, in determining whether an insurer's surplus as regards policyholders is reasonable in relation to the insurer's outstanding liabilities...
• Sec. 21.22.100 Dividends and Other Distributions.
  (a) A domestic insurer may not pay any extraordinary dividend or make any other extraordinary distribution to its shareholders until(1) 30 days after the...
• Sec. 21.22.105 Management of Domestic Insurers Subject to Registration.
  (a) Notwithstanding the control of a domestic insurer by any person, the officers and directors of the insurer may not be relieved of an...
• Sec. 21.22.110 Examination.
  (a) In addition to the director's authority to examine insurers under AS 21.06.120 - 21.06.170, the director may examine an insurer registered under AS...
• Sec. 21.22.115 Supervisory Colleges.
  (a) With respect to an insurer registered under AS 21.22.060 , and in accordance with (c) of this section, the director may participate in...
• Sec. 21.22.120 Confidentiality.
  (a) All information, documents, holding company analyses, insurer profile summaries, and copies of the information and documents obtained by or disclosed to the director...
• Sec. 21.22.130 Regulations.
  The director may adopt regulations to carry out the provisions of this chapter.
• Sec. 21.22.140 Injunctions.
  If it appears to the director that an insurer or a director, officer, employee, or agent of an insurer has violated or is about...
• Sec. 21.22.150 Voting of Certain Securities Prohibited.
  (a) A security that is the subject of any agreement or arrangement regarding acquisition, or that is acquired or to be acquired, in contravention...
• Sec. 21.22.160 Sequestration of Voting Securities.
  (a) If a person has acquired or is proposing to acquire voting securities in violation of this chapter or a regulation adopted or an...
• Sec. 21.22.170 Civil Penalties for Violations.
  (a) An insurer failing, without just cause, to file a registration statement required under this chapter shall be required, after notice and hearing under...
• Sec. 21.22.175 Criminal Penalties.
  (a) An insurer or a director, officer, employee, or agent of an insurer who knowingly violates this chapter is guilty of a class C...
• Sec. 21.22.180 Receivership.
  (a) If it appears to the director that a person has committed a violation of this chapter that so impairs the financial condition of...
• Sec. 21.22.190 Revocation, Suspension, or Nonrenewal of Insurer's Authority.
  If the director finds, after giving notice and an opportunity to be heard, that a person has committed a violation of this chapter that...
• Sec. 21.22.200 Definitions.
  In this chapter, unless the context requires otherwise,(1) "acquisition" means an agreement, arrangement, or activity the consummation of which results in a person acquiring...

Last modified: November 15, 2016