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Home » US Law » 2022 Alaska Statutes » Title 21. Insurance » Chapter 40. Insider Trading of Domestic Stock Insurance Company Equity Securities

Sec. 21.40.010. Filing statement of ownership of equity securities.

Every person who is directly or indirectly the beneficial owner of more than 10 percent of a class of an equity security of a domestic stock insurance company, or who is a director or an officer of the company, shall file with the department within 10 days after becoming the beneficial owner, director, or officer, […]

Sec. 21.40.030. Unlawful sales of equity securities.

A beneficial owner of more than 10 percent of a class of equity security, or a director or officer, may not, directly or indirectly, sell an equity security of the company if the person selling the security or the principal of that person (1) does not own the security sold, or (2) if owning the […]

Sec. 21.40.040. Exemption of certain sales of equity securities.

AS 21.40.020 does not apply to a purchase and sale, or sale and purchase, and AS 21.40.030 does not apply to a sale, of an equity security of a domestic stock insurance company not then or theretofore held in an investment account, by a dealer in the ordinary course of business and incident to the […]

Sec. 21.40.050. Arbitrage transactions exempted.

AS 21.40.010 – 21.40.030 do not apply to foreign or domestic arbitrage transactions unless made in contravention of regulations adopted by the department in carrying out the purposes of this chapter.

Sec. 21.40.060. Exemption of registered or closely held equity securities.

AS 21.40.010 – 21.40.030 do not apply to equity securities of a domestic stock insurance company if (1) the securities are registered, or are required to be registered, under 15 U.S.C. 78l (§ 12, Securities Exchange Act of 1934), as amended; or (2) the domestic stock insurance company does not have a class of its […]

Sec. 21.40.070. Enforcement; regulations.

The department may, under AS 44.62 (Administrative Procedure Act), adopt regulations necessary for the execution of the functions vested in it by AS 21.40.010 – 21.40.060, and may for that purpose classify domestic stock insurance companies, securities, and other persons or matters within its jurisdiction. A provision of AS 21.40.010 and 21.40.020 imposing a liability […]

Sec. 21.40.080. Definitions.

In this chapter, (1) “domestic stock insurance corporation” means a stock insurance corporation organized under the laws of this state or the Territory of Alaska; (2) “equity security” means a stock or similar security; or a security convertible, with or without considerations, into stock or similar security, or carrying a warrant or right to subscribe […]