Alaska § 21.69.240 - Applications for insurance in formation of mutual insurer.
Full text of Alaska Alaska Statutes § 21.69.240 — Applications for insurance in formation of mutual insurer., with citation guidance and answers to common questions.
§ 21.69.240. Applications for insurance in formation of mutual insurer.
(a) Upon receipt of the director's approval of the bond or deposit as provided in AS 21.69.230 , the directors and officers of the proposed domestic mutual insurer may commence solicitation of the requisite applications for insurance policies which they may accept, and may receive deposits of premiums on them.
(b) The applications must be in writing signed by the applicant, covering subjects of insurance resident, located, or to be performed in this state.
(c) The applications must provide that (1) issuance of the policy is contingent upon the insurer qualifying for and receiving a certificate of authority;
(2) no insurance is in effect unless and until the certificate of authority has been issued;
(3) the prepaid premium or deposit, and membership or policy fee, if any, shall be refunded in full to the applicant if organization is not completed and the certificate of authority is not issued and received by the insurer before a specified reasonable date which date shall be not later than one year after the date of the certificate of incorporation.
(d) All qualifying premiums collected shall be in cash.
(e) Solicitation for qualifying applicants for insurance shall be by licensed agents of the corporation, and the director shall, upon the corporation's application, issue temporary agent's licenses expiring on the date specified under (c)(3) of this section to individuals qualified for a resident agent's license except as to the taking or passing of an examination. The director may suspend or revoke a license for any of the causes and under the same procedures applicable to suspension or revocation of licenses of agents in general under AS 21.27 .
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 21.69.240
What does Alaska Statutes § 21.69.240 cover?
Section 21.69.240 ("Applications for insurance in formation of mutual insurer.") 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 § 21.69.240?
A common citation format is "Alaska Statutes § 21.69.240" (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 § 21.69.240 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.