Sec. 21.84.455. Valuation.
(a) Standards of valuation for certificates issued before January 1, 1999 shall be those provided by the laws applicable immediately before January 1, 1998. (b) The minimum standards of valuation for certificates issued on or after January 1, 1999 shall be based on the following tables, which shall be under valuation methods and standards, including […]
Sec. 21.84.120. Corporate powers retained.
An incorporated society authorized to transact business in this state on January 1, 1998, may not be required to reincorporate.
Sec. 21.84.465. Reports.
(a) Reports shall be filed in accordance with the provisions of this section. (b) A society transacting business in this state shall annually, before March 2, unless the time has been extended by the director for cause shown, file with the director a true statement of the society’s financial conditions, transactions, and affairs for the […]
Sec. 21.84.130. Existing voluntary associations.
(a) After July 1, 1967, an unincorporated or voluntary association may not be permitted to transact business in this state as a fraternal benefit society. (b) [Repealed, § 36 ch 96 SLA 1997.] (c) [Repealed, § 36 ch 96 SLA 1997.]
Sec. 21.84.475. License.
Societies that are authorized to transact business in this state on January 1, 1998, and societies licensed after January 1, 1998 and before July 1, 1998, may continue the business through June 30, 1998. The authority of those societies and all other societies licensed after January 1, 1998 may be renewed annually, but, in all […]
Sec. 21.84.170. Institutions.
(a) It is lawful for a society to create, maintain, and operate organizations to operate not for profit institutions to further the purposes permitted by AS 21.84.015(a)(2). The institutions may provide services free or at a reasonable charge. Real or personal property owned, held, or leased by the society for this purpose shall be reported […]
Sec. 21.84.485. Examination of societies.
The director may examine a society in the manner authorized for an insurer under AS 21.06.120 – 21.06.230. The requirements, procedures, authorization, and process for examinations authorized under this section shall be the same as for an insurer.
Sec. 21.84.175. Reinsurance.
(a) A domestic society may, by a reinsurance agreement, cede an individual risk or risks in whole or in part to an insurer, other than another fraternal benefit society, that has the power to make reinsurance and that is authorized to do business in this state or, if not authorized, that is approved by the […]
Sec. 21.84.185. Consolidations and mergers.
(a) A domestic society may consolidate or merge with another society by complying with the provisions of this section. It shall file with the director (1) a certified copy of the written contract containing in full the terms and conditions of the consolidation or merger; (2) a sworn statement by the president and secretary or […]
Sec. 21.84.195. Conversion to a mutual life insurance company.
A domestic fraternal benefit society may be converted and licensed as a mutual life insurance company by compliance with the applicable requirements of AS 21.69 if the plan of conversion has been approved by the director. A plan of conversion shall be prepared in writing by the board of directors setting out the terms and […]