Alaska § 21.27.190 - Bond.
Full text of Alaska Alaska Statutes § 21.27.190 — Bond., with citation guidance and answers to common questions.
§ 21.27.190. Bond.
(a) In addition to any other requirements in this title, a bond required under this title or an alternative indemnity permitted under this section shall meet the following requirements: (1) it shall be continuous in form;
(2) it shall remain in force until the licensee is released from liability by the director or until cancelled by the issuer;
(3) without prejudice to any liability accrued before the effective cancellation, it may be cancelled if the director receives 60 days advance written notice;
(4) the amount required to be maintained must be maintained unimpaired; and
(5) it shall be in favor of insurers, insureds, and this state.
(b) A bond may only be issued by an admitted insurer authorized to transact surety insurance in this state, or by a surplus lines insurer on the most recent list of eligible surplus lines insurers published by the director, that is acceptable to the director.
(c) For a firm licensee, a single bond or an alternative indemnity permitted under this section may combine the sureties required (1) by separate sections of this title; and
(2) for separate places of business.
(d) [Repealed, § 83 ch 81 SLA 2001.] (e) Except as provided in this title, the director may adopt, by regulation, a deposit of cash, a certificate of deposit, or letter of credit as an alternative to a bond if the deposit of cash, certificate of deposit, or letter of credit meets the requirements of this section, other provisions of this title, and other requirements established by the director.
Frequently Asked Questions About Alaska § 21.27.190
What does Alaska Statutes § 21.27.190 cover?
Section 21.27.190 ("Bond.") 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 § 21.27.190?
A common citation format is "Alaska Statutes § 21.27.190" (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 § 21.27.190 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.