Alaska § 21.69.600 - Mergers and consolidations, mutual insurers.
Full text of Alaska Alaska Statutes § 21.69.600 — Mergers and consolidations, mutual insurers., with citation guidance and answers to common questions.
§ 21.69.600. Mergers and consolidations, mutual insurers.
(a) A domestic mutual insurer may not merge or consolidate with a stock insurer.
(b) A domestic mutual insurer may merge or consolidate with another mutual insurer under the applicable procedures prescribed by the statutes of this state applying to corporations formed for profit, except as provided in this section.
(c) The plan and agreement for merger or consolidation shall be submitted to and approved by at least two-thirds of the members of each mutual insurer involved and voting in person or by proxy at a meeting called for the purpose after reasonable notice and under procedures that have been approved by the director. If a life insurer, the right to vote may be limited to members whose policies are other than term and group policies and have been in effect for more than one year.
(d) A merger or consolidation may not be effectuated unless the plan and agreement for it have been filed with the director and approved by the director in writing after a hearing. The director shall give the approval within a reasonable time after the filing unless the director finds the plan or agreement (1) is inequitable to the policyholders of a domestic insurer involved; or
(2) would substantially reduce the security of and service to be rendered to policyholders of the domestic insurer in this state and elsewhere.
(e) If the director does not approve the plan or agreement the director shall notify the insurers in writing specifying the reasons.
(f) AS 21.69.590 (e) also applies to mergers and consolidations of mutual insurers.
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 21.69.600
What does Alaska Statutes § 21.69.600 cover?
Section 21.69.600 ("Mergers and consolidations, mutual insurers.") 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 § 21.69.600?
A common citation format is "Alaska Statutes § 21.69.600" (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 § 21.69.600 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.