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. 21.22.060. Registration required.
(a) Except as provided in (c) of this section, an insurer that is authorized to do business in this state and that is a member of an insurance holding company system shall register with the director. An insurer that is subject to registration under this section shall register not later than 15 days after the […]
Sec. 21.22.065. Acquisitions involving change of control.
(a) Unless exempted in (j) of this section, this section applies to any acquisition in which there is a change in control of an insurer authorized to do business in this state. (b) If an acquisition violates the standards established in (d) and (f) of this section, the director may enter an order requiring an […]
Sec. 21.22.070. Review by director.
If at any time the director determines that any material transaction entered into between an insurer and any of its affiliates does not meet the standards set out in AS 21.22.080, the director may, after hearings conducted in accordance with AS 21.06, require the insurer and the affiliate to terminate, set aside, or modify the […]
Sec. 21.22.080. Transactions within an insurance holding company system.
Material transactions by registered insurers with their affiliates are subject to the following standards: (1) the terms shall be fair and reasonable; (2) charges or fees for services performed shall be reasonable; (3) expenses incurred and payment received shall be allocated to the insurer in conformity with customary insurance accounting practices consistently applied; (4) the […]
Sec. 21.22.085. Transactions involving a domestic insurer requiring director review.
(a) Transactions involving a domestic insurer and a person in its insurance holding company system, including amendments or modifications of affiliate agreements previously filed under AS 21.22.080 that are subject to a materiality standard in (1) – (7) of this subsection, may not be entered into unless the insurer has notified the director in writing […]
Sec. 21.22.090. Adequacy of surplus.
For the purposes of this chapter, in determining whether an insurer’s surplus as regards policyholders is reasonable in relation to the insurer’s outstanding liabilities and adequate to its financial needs, the following factors, among others, shall be considered: (1) the size of the insurer as measured by its assets, capital and surplus, reserves, premium writings, […]