Alaska § 21.42.240 - Binders.
Full text of Alaska Alaska Statutes § 21.42.240 — Binders., with citation guidance and answers to common questions.
§ 21.42.240. Binders.
(a) A binder or other contract for temporary insurance may be made orally or in writing and shall be considered to include all the usual terms of the policy as to which the binder was given together with the applicable endorsements designated in the binder, except as superseded by the clear and express terms of the binder.
(b) A binder is not valid after the issuance of the policy with respect to which it was given, or after 90 days from its effective date, whichever period is the shortest.
(c) If the policy has not been issued a binder may be extended or renewed after the 90 days with the written approval of the insurer.
(d) This section does not apply to life or health insurances.
Frequently Asked Questions About Alaska § 21.42.240
What does Alaska Statutes § 21.42.240 cover?
Section 21.42.240 ("Binders.") 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 § 21.42.240?
A common citation format is "Alaska Statutes § 21.42.240" (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 § 21.42.240 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.