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 […]
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 makes the continued operation of an insurer contrary to the interests of its policyholders or the public, the director may suspend, revoke, or refuse to renew the insurer’s license or authority […]
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 directly or indirectly the control of another person, and includes the acquisition of voting securities, assets, bulk reinsurance, and mergers; (2) “affiliate” or “affiliated” means a person who directly, or […]
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 obligation or liability to which the officers and directors would otherwise be subject to by law, and the insurer shall be managed so as to assure the insurer’s separate operating identity […]
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 21.22.060 and its affiliates to ascertain the financial condition of the insurer, including the enterprise risk to the insurer by the ultimate controlling party, by any entity or combination of entities […]
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 […]