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 a supervisory college for a domestic insurer that is part of an insurance holding company system with international operations to determine the insurer’s compliance with this chapter. The director may (1) initiate […]
Sec. 21.22.117. Group-wide supervision of internationally active insurance groups.
(a) The director may act as the group-wide supervisor for an internationally active insurance group in accordance with this section. However, the director may acknowledge another regulatory official as the group-wide supervisor if the internationally active insurance group (1) does not have substantial insurance operations in the United States; (2) has substantial insurance operations 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 or any other person in the course of an examination or investigation made under AS 21.22.110 and all information reported under AS 21.22.020(b), 21.22.060, 21.22.085 – 21.22.105, and 21.22.117 and all […]
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 to violate this chapter or a regulation adopted or an order issued by the director under this chapter, the director may apply to the superior court in the judicial district in […]
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 of this chapter or a regulation adopted or an order issued by the director under this chapter may not be voted at a shareholders’ meeting or be counted for quorum purposes, […]
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 order issued by the director under this chapter, the insurer or the director may make an application in the superior court in the first judicial district or the superior court in […]
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 AS 21.06.170 – 21.06.240, to pay a $200 fine for each day the insurer fails to file the registration. The maximum penalty under this subsection is $50,000. The director may reduce […]
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 felony. (b) A director, officer, or employee of an insurance holding company system who knowingly subscribes to or makes or causes to be made a false statement, false report, or false […]
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 a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders, creditors, shareholders, or the public, then the director may proceed as […]