(a) Each service corporation shall set aside into a “surplus fund” an amount of money equal to not less than two percent of all sums hereafter received by it on account of subscriber’s contracts, until the surplus fund amounts to not less than $50,000 if a medical service corporation or hospital service corporation, or $100,000 […]
(a) A service corporation shall invest and have invested its funds in the following investments only: (1) cash on deposit or in savings accounts in banks or trust companies in this state; (2) deposits in or shares of the savings and loan associations that are insured by an instrumentality of the United States government, and […]
(a) Every service corporation shall establish and maintain complete and accurate records and accounts covering its transactions and affairs, in accordance with common and accepted principles and practices of insurance accounting and record keeping as applied to the business of the corporation. (b) Among other records, the corporation shall establish a separate record of each […]
(a) Each service corporation shall annually before March 2 file with the director a statement of its financial condition as at the preceding December 31. The statement must be in the form, and provide for the information relative to the corporation’s affairs, that the director prescribes, consistent with this chapter. The statement shall be verified […]
Every service corporation shall be subject to examination by the director, with the same rights and powers and in the same manner as is provided in this title for the examination of insurers; and for the purposes thereof AS 21.06.120 – 21.06.180 shall, to the extent applicable, apply to such a corporation, which, for the […]
Every hospital and medical service corporation doing business under this chapter shall be taxed as provided in AS 21.09.210.
(a) A hospital service corporation and a medical service corporation may operate under joint management for the purpose of reducing operating costs. (b) Separate records and accounts shall be kept for each corporation, and the funds and assets of one may not be commingled with those of the other; except that funds received from a […]
(a) A service corporation may be formed as, or may by suitable amendment of its articles of incorporation become, a combined medical service and hospital service corporation. As to its medical services each combined service corporation shall fully comply with those provisions of this chapter especially applicable as to medical service corporations; and as to […]
A service corporation may not issue a subscriber’s contract covering, or otherwise insure, an industrial injury or illness if health care service or indemnity benefits are provided by either federal or state law, or under the Alaska Workers’ Compensation Act.
(a) At least once each year each service corporation shall make a special accounting, at which time any prorated settlements for bills submitted by participant providers or hospitals for services rendered during the preceding calendar year shall be adjusted, and any deficits made up on a uniform basis as to all participants to the extent […]
Each service corporation shall procure and maintain in force a fidelity bond or bonds, with authorized corporate surety, covering every officer or employee entrusted with the handling of its funds, in an amount, but not less than $5,000, that may be fixed by its board of directors.
In this chapter, (1) “health care service” means a service rendered to an individual for diagnosis, relief, or treatment of an injury, ailment, or bodily condition; (2) “hospital service corporation” means a service corporation that principally provides hospital services; (3) “medical service corporation” means a service corporation that principally provides medical or surgical services; (4) […]
In addition to the provisions contained or referred to previously in this chapter, the following chapters and provisions of this title also apply with respect to service corporations to the extent applicable and not in conflict with the express provisions of this chapter and the reasonable implications of the express provisions, and, for the purposes […]
A health care service contractor registered to do business in this state on July 1, 1966, is entitled to be registered under this chapter, whether or not it meets the requirements of this chapter.
