reglab/housing_qa huggingface dataset:
AK Stat § 21.59.050 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 59. Motor Vehicle Service Corporations and Contracts|Article 1. Automobile Service Corporations.|Sec. 21.59.050. Reserves.

(a) An automobile service corporation shall establish and maintain unimpaired reserves as follows: (1) a reserve in an amount not less than all legal obligations of the corporation, other than claims originating under subscriber's contracts, due but unpaid; (2) a reserve equal to not less than the amount necessary by reasonable estimate to pay all claims incurred under subscriber's contracts but currently unpaid, and including a reasonable additional amount to cover claims incurred but not reported to the corporation at the time of determination of the corporation's financial condition; and (3) a reserve equal to 50 percent of all sums charged and received by the corporation during the calendar period covered by the financial statement, on account of indemnity benefits provided in subscriber's contracts for terms for which premium was last paid and unexpired at the date of the financial statement. (b) The reserves required under (a) of this section constitute a liability of the corporation in a determination of its financial condition. (c) Instead of the reserves required by (a) of this section and the bond required by AS 21.59.030(2), the automobile service corporation may file a bond in the amount of $250,000.
AK Stat § 21.59.060 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 59. Motor Vehicle Service Corporations and Contracts|Article 1. Automobile Service Corporations.|Sec. 21.59.060. Records and accounts.

(a) An automobile service corporation shall establish and maintain complete and accurate records and accounts covering its transactions and affairs in accordance with generally accepted accounting principles as applied to the business of the corporation. (b) The director may accept an audited financial statement instead of the examination required under AS 21.06.120.
AK Stat § 21.59.070 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 59. Motor Vehicle Service Corporations and Contracts|Article 1. Automobile Service Corporations.|Sec. 21.59.070. Other provisions applicable.

In addition to the provisions of AS 21.59.010 - 21.59.090, the following provisions of this title shall apply to automobile service corporations, to the extent applicable and not in conflict with the express provisions of AS 21.59.010 - 21.59.090 and the reasonable implications of the express provisions, and, for the purposes of the application, the corporations shall be considered to be stock insurers: (1) AS 21.03; (2) AS 21.06; (3) AS 21.09.050; (4) AS 21.09.100; (5) AS 21.09.120 - 21.09.210; (6) AS 21.09.245; (7) AS 21.09.247; (8) AS 21.12; (9) AS 21.36; (10) AS 21.69; (11) AS 21.78; (12) AS 21.97.
AK Stat § 21.59.090 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 59. Motor Vehicle Service Corporations and Contracts|Article 1. Automobile Service Corporations.|Sec. 21.59.090. Definitions.

In AS 21.59.010 - 21.59.090, (1) “automobile service corporation” means a corporation providing all or part of one or more automobile service corporation services for subscribers in exchange for periodic prepayment in identifiable amount by or as to the subscribers; (2) “automobile service corporation services” means any professional service, technical service, replacement of goods that the corporation may become obligated to provide upon a contingent event or a certain event that may occur at an uncertain time and for which a specified single or periodic prepayment is charged or collected, including (A) emergency road service; (B) reimbursement of legal fees for representation on traffic offenses; and (C) providing bail bonds for traffic offenses; an automobile service corporation may provide other services or benefits that do not fall within the definition of automobile service corporation services; (3) “subscriber's contract” means the contract between the automobile service corporation and its subscriber under which all or a part of one or more services is to be rendered to or on behalf of the subscriber by an automobile service corporation or by a provider that has entered into a service agreement with the automobile service corporation.
AK Stat § 21.59.110 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 59. Motor Vehicle Service Corporations and Contracts|Article 2. Motor Vehicle Service Contracts.|Sec. 21.59.110. Motor vehicle service contract.

(a) A provider may, for separate or additional consideration, enter into a motor vehicle service contract for a specific duration to (1) maintain, service, or repair a motor vehicle for an operational or structural failure due to a defect in materials or workmanship or due to normal wear and tear; (2) indemnify for repair, replacement, or maintenance for an operational or structural failure due to a defect in materials or workmanship or normal wear and tear, with or without additional provisions for incidental payment of indemnity for towing, rental, emergency road service, and road hazard protection; (3) repair or replace tires or wheels on a motor vehicle damaged as a result of coming into contact with road hazards; (4) remove dents, dings, or creases on a motor vehicle that can be repaired using the process of paintless dent removal without affecting the existing paint or finish and without replacing vehicle body panels or requiring sanding, bonding, or painting; (5) repair chips or cracks in or replace motor vehicle windshields as a result of damage caused by road hazards; or (6) replace a motor vehicle key or key fob if the key or key fob becomes inoperable or is lost or stolen. (b) A motor vehicle service contract may not include coverage for the repair of damage to or replacement of the interior surfaces of a vehicle or for the repair or replacement of the exterior paint or finish of a vehicle. (c) A motor vehicle service contract marketed, offered for sale, sold, issued, made, or administered in this state must be written, printed, or typed in clear, understandable language, in eight point or larger type, and must include the following: (1) the name and address of the provider and an administrator if different from the provider, the service contract seller, and the service contract holder to the extent that the name of the service contract holder has been furnished by the service contract holder; names and addresses of the parties are not required to be preprinted on the motor vehicle service contract and may be added to the motor vehicle service contract at the time of sale; (2) the provider fee and the terms of the motor vehicle service contract; the provider fee is not required to be preprinted on the service contract and may be negotiated at the time of sale; (3) the applicable deductible amount, if any; (4) a description of the materials and services to be provided and applicable limitations, exceptions, or exclusions, including whether the service contract provides for or excludes consequential damages or preexisting conditions; (5) a description of the obligations and duties of the service contract holder; (6) whether the use of nonoriginal manufacturer's parts is allowed; (7) restrictions on the transferability of the service contract, if applicable; and (8) the terms for return and cancellation of the service contract.
AK Stat § 21.59.120 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 59. Motor Vehicle Service Corporations and Contracts|Article 2. Motor Vehicle Service Contracts.|Sec. 21.59.120. Exemptions.

(a) The following are exempt from AS 21.59.110 - 21.59.290: (1) a motor vehicle warranty or a product warranty under 15 U.S.C. 2301 - 2312 (Magnuson-Moss Warranty-Federal Trade Commission Improvement Act), as amended; (2) a motor vehicle maintenance agreement; in this paragraph, “motor vehicle maintenance agreement” means a contract of limited duration that provides only for regular maintenance to a motor vehicle; (3) a motor vehicle service contract sold or offered for sale to a person other than a consumer; (4) a subscriber's contract, as defined by AS 21.59.090, between an automobile service corporation holding a certificate of authority under AS 21.59 and its subscribers that provides for towing, rental car benefits, or emergency road service. (b) A motor vehicle manufacturer's motor vehicle service contract that applies to the motor vehicle manufacturer's product is exempt from AS 21.59.120 - 21.59.160 and AS 21.59.180 - 21.59.200. (c) A motor vehicle manufacturer is exempt from AS 21.59.180 and the license requirement in this title.
AK Stat § 21.59.140 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 59. Motor Vehicle Service Corporations and Contracts|Article 2. Motor Vehicle Service Contracts.|Sec. 21.59.140. Provider license; notice to licensee.

(a) A provider of a motor vehicle service contract sold in this state shall file an application for a license with the director on a form prescribed by the director and pay a licensing fee to the director in an amount determined by the director. The application shall include the applicant's name, full address, telephone number, a designated compliance officer, the designation of a person in this state for service of process, and a list of all officers and directors of the applicant. Additionally, an applicant shall file a copy of its basic organizational documents, such as articles of incorporation, articles of organization, articles of association, or a partnership agreement. An applicant shall also provide information required by the director to demonstrate compliance with the requirements of AS 21.59.180. The applicant shall declare, subject to penalty of denial, nonrenewal, suspension, or revocation of a license issued by the director, that the statements made in or in connection with the application are true, correct, and complete to the best of the applicant's knowledge and belief. The director may not issue a license except in compliance with AS 21.59.110 - 21.59.290 and may not issue a license to a person, or to be exercised by a person, found by the director to be untrustworthy, incompetent, or financially irresponsible, or who has not established to the satisfaction of the director that the person is qualified under AS 21.59.110 - 21.59.290. If the director denies an application for a license, the applicant has the right to request a hearing under AS 21.06.170 - 21.06.240. (b) If a change occurs in the information submitted to the director in an application, a provider shall update the information in the application by sending the changes to the director in writing within 30 days after the change. (c) A licensee shall report to the director in writing any administrative action taken against the licensee by a governmental agency of another state or by a governmental agency of another jurisdiction within 30 days after the final disposition of the action. A licensee shall submit to the director the final order and other relevant legal documents in the action. A licensee shall report to the director any criminal prosecution of the licensee within 30 days after the date of filing of the criminal complaint, indictment, or citation in the prosecution. The licensee shall submit to the director a copy of the criminal complaint, calendaring order, and other relevant legal documents in the prosecution. (d) In addition to any other penalty provided by law, a failure to notify the director as required by this section is cause for denial, nonrenewal, suspension, or revocation of a license.
AK Stat § 21.59.150 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 59. Motor Vehicle Service Corporations and Contracts|Article 2. Motor Vehicle Service Contracts.|Sec. 21.59.150. Provider license renewal, expiration, reinstatement.

(a) A provider may renew a license issued under AS 21.59.110 - 21.59.290 biennially on a date set by the director if the licensee continues to be qualified under AS 21.59.110 - 21.59.290 and, on or before the close of business of the renewal date, meets all renewal requirements established by regulation, and pays the renewal license fees set by the director. A licensee is responsible for knowing the date that a license will expire and for renewing a license on or before that date. The director shall notify the licensee of the impending expiration 30 days before the expiration date. The director may not renew a license except in compliance with AS 21.59.110 - 21.59.290 and may not renew the license of a person, or to be exercised by a person, found by the director to be untrustworthy, incompetent, or financially irresponsible, or who has not established to the satisfaction of the director that the person is qualified under AS 21.59.110 - 21.59.290. (b) If a provider's license is not renewed on or before the expiration date set by the director, the license expires. A licensee may not act as or represent to be a provider during the time a license has expired. The director may reinstate an expired license if the person continues to qualify for the license and pays license renewal fees and a delayed renewal penalty. Reinstatement does not exempt a person from a penalty provided by law for transacting business while unlicensed. A license that has expired for two years or longer may not be renewed.
AK Stat § 21.59.160 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 59. Motor Vehicle Service Corporations and Contracts|Article 2. Motor Vehicle Service Contracts.|Sec. 21.59.160. Administrator registration.

(a) A person may not act as an administrator of motor vehicle service contracts sold in this state unless the person registers with the director by providing the following information: (1) the administrator's name, business address, and other information required by the director; and (2) the names of the providers for whom the person acts as an administrator. (b) A provider that is licensed under AS 21.59.110 - 21.59.290 may administer its own motor vehicle service contract program without registering separately as an administrator. However, if a provider administers another provider's motor vehicle service contract program, the provider shall register as an administrator under this section.
AK Stat § 21.59.190 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 59. Motor Vehicle Service Corporations and Contracts|Article 2. Motor Vehicle Service Contracts.|Sec. 21.59.190. Records.

(a) The provider shall keep accurate accounts, books, and records related to the sale of motor vehicle service contracts, including (1) copies of each type of motor vehicle service contract sold; (2) the name and address of each service contract holder to the extent that the name and address have been furnished by the service contract holder; (3) the locations where motor vehicle service contracts are marketed, sold, or offered for sale; and (4) claim files describing claims related to the motor vehicle service contracts. (b) The provider shall retain all records required by this section for at least five years after a motor vehicle service contract has expired. (c) Records required to be maintained under this section may be maintained electronically. (d) A provider shall reply in writing within 10 working days to a records inquiry of the director. The director may inspect or request summary or detailed copies of records for examination by the division. Accounting and financial records inspected or examined under this section are confidential when in the possession of the division, but may be used by the director in a proceeding against the licensee. (e) A provider discontinuing business in this state shall maintain records as required by this section until the provider's obligations to all service contract holders in this state have been discharged.
AK Stat § 21.59.290 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 59. Motor Vehicle Service Corporations and Contracts|Article 2. Motor Vehicle Service Contracts.|Sec. 21.59.290. Definitions.

In AS 21.59.110 - 21.59.290, (1) “administrator” means a person who is responsible for the administration of a motor vehicle service contract or the motor vehicle service contract plan; (2) “motor vehicle” means a motor vehicle subject to registration under AS 28.10.011; (3) “motor vehicle manufacturer” means a person that (A) manufactures or produces motor vehicles and sells motor vehicles under the person's own name or label; (B) is a subsidiary of a person who manufactures or produces motor vehicles; (C) is a corporation that owns 100 percent of the person that manufactures motor vehicles; (D) sells motor vehicles under the trade name or label of a person that manufactures or produces motor vehicles; (E) manufactures and sells motor vehicles under the trade name or label of another person that manufactures or produces motor vehicles; or (F) under a written contract, licenses the use of its trade name or label to another person that manufactures motor vehicles and sells motor vehicles under the licensor's trade name or label; (4) “nonoriginal manufacturer's parts” means replacement parts or “after market” parts not made for or by the original manufacturer of the motor vehicle; (5) “provider” means a person that is contractually obligated to provide motor vehicle services to a service contract holder under the terms of a motor vehicle service contract; (6) “provider fee” means the consideration paid for a motor vehicle service contract; (7) “road hazard” means obstacles in the road, including potholes, rocks, wood debris, metal parts, glass, plastic, curbs, or composite scraps; (8) “service contract holder” means a person who is the purchaser or holder of a motor vehicle service contract; (9) “warranty” means a warranty made solely by the manufacturer, importer, or seller of a motor vehicle without consideration, that is not negotiated or separated from the sale of the motor vehicle and is incidental to the sale of the motor vehicle, and that guarantees indemnity for defective parts, mechanical or electrical breakdown, and labor or other remedial measures, such as repair or replacement of the motor vehicle or repetition of services.
AK Stat § 21.75.010 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 75. Reciprocal and Cooperative Insurers|Article 1. Reciprocal Insurers.|Sec. 21.75.010. Applicability.

(a) All authorized reciprocal insurers shall be governed by those sections of this chapter not expressly made applicable to domestic reciprocals. (b) Existing authorized reciprocal insurers shall, after July 1, 1966, comply with the provisions of this chapter, and shall make amendments to their subscribers' agreement, power of attorney, policies, and other documents and accounts and perform other acts that may be required for compliance.
AK Stat § 21.75.020 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 75. Reciprocal and Cooperative Insurers|Article 1. Reciprocal Insurers.|Sec. 21.75.020. Insuring powers of reciprocals.

(a) Except as provided in (c) of this section, a reciprocal insurer may, upon qualifying as provided for by this title, transact any kind or kinds of insurance defined by this title, other than life or title insurances. (b) The insurer may purchase reinsurance, and may grant reinsurance as to any kind of insurance it is authorized to transact. (c) The director shall establish by regulation the type of marine insurance that a reciprocal insurer may provide.
AK Stat § 21.75.030 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 75. Reciprocal and Cooperative Insurers|Article 1. Reciprocal Insurers.|Sec. 21.75.030. Name, suits.

(a) A reciprocal insurer shall (1) have and use a business name; the name must include the word “reciprocal” or “interinsurer” or “exchange” or “underwriters” or “underwriting” or “association”; (2) sue and be sued in its own name. (b) In addition to the requirements of (a) of this section, a cooperative insurer organized under AS 21.75.300 - 21.75.330 shall include the word “cooperative” in its name.
AK Stat § 21.75.040 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 75. Reciprocal and Cooperative Insurers|Article 1. Reciprocal Insurers.|Sec. 21.75.040. Attorney-in-fact.

(a) [Repealed, § 223 ch 67 SLA 1992.] (b) The attorney-in-fact of a foreign or alien reciprocal insurer, that is authorized to transact insurance in this state, may not, by virtue of discharge of its duties as the attorney-in-fact with respect to the insurer's transactions in this state, be considered to be doing business in this state within the meaning of a law of this state applying to foreign firms or corporations.
AK Stat § 21.75.050 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 75. Reciprocal and Cooperative Insurers|Article 1. Reciprocal Insurers.|Sec. 21.75.050. Surplus funds required.

(a) A domestic reciprocal insurer formed in accordance with the provisions of this chapter shall have and maintain a surplus no less than an amount equal to the total of the capital and one-half of the surplus that would be required of a domestic stock insurer writing the same lines for which the reciprocal insurer seeks to be authorized. (b) A foreign reciprocal insurer shall have and maintain a surplus no less than an amount equal to the total capital and surplus that would be required of a domestic stock insurer writing the same lines for which the reciprocal seeks to be authorized. (c) A domestic reciprocal insurer formed under this chapter by and insuring only 10 or more municipalities shall (1) comply with (a) of this section or post a bond for an amount equal to the capital that would be required of a domestic stock insurer writing the same lines of insurance for which the reciprocal insurer seeks to be authorized; and (2) maintain a surplus of $250,000 in admitted assets or a surplus sufficient to operate the reciprocal insurer for one year, whichever is greater. (d) Notwithstanding (a) and (c) of this section, or AS 21.09.080, domestic reciprocal insurers duly licensed and capitalized on December 31, 1984, shall have and maintain the capital and surplus required at the date of their original license. (e) Notwithstanding (a) - (c) of this section, the director shall establish by regulation the level of surplus to be maintained by a reciprocal insurer providing marine insurance.
AK Stat § 21.75.055 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 75. Reciprocal and Cooperative Insurers|Article 1. Reciprocal Insurers.|Sec. 21.75.055. Surplus funds for cooperative insurers.

A cooperative insurer organized under AS 21.75.300 - 21.75.330, if it has otherwise complied with the applicable provisions of this chapter, may be authorized to transact insurance if it has and maintains surplus funds equal to one-half of the capital required for a domestic reciprocal insurer under AS 21.75.050(a) and such additional surplus as the director considers sufficient.