Alaska § 21.34.070 - Declaration of ineligibility.
Full text of Alaska Alaska Statutes § 21.34.070 — Declaration of ineligibility., with citation guidance and answers to common questions.
§ 21.34.070. Declaration of ineligibility.
(a) If after a review of a nonadmitted insurer and consideration of factors including quality of management, capital and surplus of a parent company, underwriting profit, investment income trends, trade practices, reserving practices, company record, and reputation within the industry, the director finds the insurer to be unacceptable, the director may declare the nonadmitted insurer to be ineligible.
(b) The director may issue an order declaring a nonadmitted insurer ineligible if at any time the director has reason to believe that the nonadmitted insurer (1) is in unsound financial condition;
(2) is no longer eligible under AS 21.34.040 ;
(3) has wilfully violated the laws of this state or another state; or
(4) does not reasonably investigate and make prompt payment of just losses and claims in this state or another state.
(c) The director shall promptly mail notice of all declarations under (b) of this section to each licensed surplus lines broker.
Frequently Asked Questions About Alaska § 21.34.070
What does Alaska Statutes § 21.34.070 cover?
Section 21.34.070 ("Declaration of ineligibility.") is part of the Alaska Statutes, the codified statutory law of Alaska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alaska § 21.34.070?
A common citation format is "Alaska Statutes § 21.34.070" (Alaska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 21.34.070 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alaska.