All securities not negotiable by delivery and deposited under this title shall be assigned to the director and successors in office. In the case of securities held under custodial arrangements outside this state under AS 21.24.040 (c), the custodian's receipt for the securities shall be delivered, if negotiable, or assigned to the director if thereby legal title to the securities is vested in the director. The insurer shall transfer or convey to the director and successors in office all other assets so deposited. Upon release to the insurer of the asset or security the director shall reassign or transfer or reconvey it to the insurer.
Section: Previous 21.24.010 21.24.020 21.24.030 21.24.040 21.24.050 21.24.060 21.24.070 21.24.080 21.24.090 21.24.100 21.24.110 21.24.120 21.24.130 NextLast modified: November 15, 2016