Alaska Statutes Sec. 21.09.140 - Mandatory Revocation or Suspension of Certificate

(a) The director shall suspend or revoke an insurer's certificate of authority

(1) if the action is required by a provision of this title;

(2) if the insurer no longer meets the requirements for the authority granted, on account of the insurer becoming impaired or insolvent or otherwise; or

(3) if the insurer's authority to transact insurance is suspended or revoked by its state of domicile, or state of entry into the United States if an alien insurer.

(b) Except in cases of insolvency or impairment of required capital or surplus, or suspension or revocation by another state as referred to in (a)(3) of this section, the director shall give the insurer at least 15 days' notice in advance of a suspension or revocation under this section.

Section: Previous  21.09.080  21.09.090  21.09.100  21.09.110  21.09.120  21.09.130  21.09.135  21.09.140  21.09.150  21.09.160  21.09.170  21.09.175  21.09.180  21.09.190  21.09.200  Next

Last modified: November 15, 2016