Except as provided in AS 06.40.020, a person may not engage in the business of entering into premium finance agreements on insurance sold in this state or risks located in this state, either directly or indirectly, or otherwise act as a premium finance company in this state without being licensed by the department.
This chapter does not apply to (1) an insurer authorized to transact business in this state with respect to premiums on policies that the insurer issues; (2) a bank, trust company, savings association, or other financial institution subject to the other chapters of this title and authorized to transact business in this state that does […]
(a) The applicant shall file with the application a bond to be approved by the department in which the applicant is the obligor, in the sum of $5,000 with one or more sureties. The bond shall be for the use of the state and any person who may have a cause of action against the […]
On or before December 20 of each year, each licensee shall pay a fee of $200 to the department as an annual license fee for the next succeeding calendar year. At that same time the licensee shall file with the department a new bond that complies with AS 06.40.030.
(a) Application for a license under this chapter shall be in writing and in the form prescribed by the department. If the applicant is a natural person, the application form must require submission of the applicant’s social security number. (b) All reasonable investigation expenses incurred by the department in processing an application for approval of […]
(a) A licensee may maintain only one place of business under a license. The department may issue more than one license to the same licensee upon application and compliance by the licensee with the provisions of this chapter governing the original issuance of a license. (b) If a licensee changes the place of business to […]
(a) Upon the filing of an application and payment of the investigation fee specified in AS 06.40.050(b), the commissioner shall conduct an investigation of an applicant and shall issue a premium finance company license if the applicant meets the requirements of this chapter. If the commissioner does not so find, the commissioner shall, within 30 […]
The commissioner may revoke or suspend the license of any licensee when, upon completion of an investigation, the commissioner determines that (1) the license issued to the company was obtained by fraud; (2) there was misrepresentation in the application for the license; (3) the holder of the license has otherwise proven to be untrustworthy or […]
