Alaska § 21.78.271 - Recovery of premiums owed.
Full text of Alaska Alaska Statutes § 21.78.271 — Recovery of premiums owed., with citation guidance and answers to common questions.
§ 21.78.271. Recovery of premiums owed.
(a) An (1) insurance producer, premium finance company, or any other person, other than the insured, responsible for the payment of a premium is obligated to pay an unpaid earned premium due the insurer at the time of the declaration of insolvency, as shown on the records of the insurer; neither a credit nor a setoff is allowed to an insurance producer or premium finance company for an amount advanced to the insurer by the insurance producer or premium finance company on behalf of, but in the absence of a payment by, the insured;
(2) insured is obligated to pay an unpaid earned premium due the insurer at the time of the declaration of insolvency, as shown on the records of the insurer.
(b) If there are grounds for believing that a person has violated this section, the director may initiate proceedings under AS 21.06.170 — 21.06.230.
(c) Upon a finding of a violation of this section, the director may order a penalty of not more than $1,000 for each act in violation of this section and may suspend or revoke the person's license issued under this title.
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 21.78.271
What does Alaska Statutes § 21.78.271 cover?
Section 21.78.271 ("Recovery of premiums owed.") 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 § 21.78.271?
A common citation format is "Alaska Statutes § 21.78.271" (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 § 21.78.271 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.