Alaska Statutes Title 21, Chapter 21.79 - Alaska Life and Health Insurance Guaranty Association Act

• Sec. 21.79.010 Purpose.
  The purpose of this chapter is to protect, subject to certain limitations, the persons specified in AS 21.79.020 (a) against failure in the performance...
• Sec. 21.79.020 Scope.
  (a) This chapter applies to a policy and contract specified in (b) of this section and to a person who(1) except for a nonresident...
• Sec. 21.79.025 Liability Limits.
  (a) The benefits for which the association may become liable may not exceed the lesser of(1) the contractual obligations for which the insurer is...
• Sec. 21.79.030 Construction.
  (a) This chapter shall be construed to achieve the purposes set out in AS 21.79.010 .(b) This chapter is intended to provide coverage to...
• Sec. 21.79.040 Association Established.
  (a) There is established as a nonprofit legal entity the Alaska Life and Health Insurance Guaranty Association. Each member insurer shall be a member...
• Sec. 21.79.050 Board of Governors.
  (a) The Board of Governors of the association consists of not less than five nor more than nine representatives of member insurers. The director...
• Sec. 21.79.060 Powers and Duties of the Association.
  (a) If a member insurer becomes impaired, the association may, with the approval of the director and subject to any conditions imposed by the...
• Sec. 21.79.070 Assessments.
  (a) For the purpose of providing funds necessary to carry out the powers and duties of the association, the Board of Governors shall assess...
• Sec. 21.79.080 Plan of Operation.
  (a) The association shall submit to the director a plan of operation and any amendments to assure the fair, reasonable, and equitable administration of...
• Sec. 21.79.090 Powers and Duties of the Director.
  (a) Upon request of the board, the director shall provide the association with a statement of the premiums in the appropriate states for each...
• Sec. 21.79.100 Prevention of Insolvencies.
  (a) The director shall notify, by mail, the commissioner, director, or superintendent of insurance of the other states, territories of the United States, and...
• Sec. 21.79.110 Miscellaneous Provisions.
  (a) This chapter does not reduce the liability for unpaid assessments of an insured of an impaired or insolvent insurer operating under an insurance...
• Sec. 21.79.120 Examination of the Association, Annual Report.
  The association may be examined by the director. The board shall submit to the director, not later than July 1 of each year, a...
• Sec. 21.79.130 Tax Exemption.
  The association is exempt from payment of all fees and taxes levied by the state or its political subdivisions, other than real property taxes.
• Sec. 21.79.140 Civil Immunity.
  The association and its agents and employees, members of the Board of Governors, member insurers, and agents and employees of member insurers, and the...
• Sec. 21.79.150 Stay of Proceedings; Default Judgment.
  Proceedings involving an insolvent insurer shall be stayed at least 60 days after the date of a final order of liquidation, rehabilitation, or conservation...
• Sec. 21.79.160 Prohibited Advertisement of Insurance Sales; Required Notice.
  (a) A person, including an insurer, agent, or affiliate of an insurer, may not make, publish, disseminate, circulate, or place before the public, or...
• Sec. 21.79.170 Determination of Principal Place of Business.
  The principal place of business of a plan sponsor consisting of(1) a single employer or an employee organization is that state in which the...
• Sec. 21.79.180 Determination of Residency of Certain Individuals.
  A citizen of the United States that is either a (1) resident of a foreign country, or (2) resident of a United States possession,...
• Sec. 21.79.900 Definitions.
  In this chapter,(1) "account" means an account created under AS 21.79.040 ;(2) "association" means the Alaska Life and Health Insurance Guaranty Association;(3) "authorized assessment"...
• Sec. 21.79.990 Short Title.
  This chapter may be cited as the Alaska Life and Health Insurance Guaranty Association Act.

Last modified: November 15, 2016