reglab/housing_qa huggingface dataset:
AK Stat § 21.79.080 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 79. Alaska Life and Health Insurance Guaranty Association Act|Sec. 21.79.080. Plan of operation.

(a) The association shall submit to the director a plan of operation and any amendments to assure the fair, reasonable, and equitable administration of the association. The plan of operation and any amendments take effect on the written approval of the plan by the director or 30 days after receipt by the director if not disapproved by the director. (b) If the association fails to submit suitable amendments to the plan, the director shall, after notice and hearing, adopt regulations to implement this chapter. These regulations remain in effect until amended or repealed by the director. (c) A member insurer shall comply with the plan of operation. The plan of operation must (1) establish procedures for handling assets of the association; (2) establish the amount and method of reimbursing members of the board under AS 21.79.050(c); (3) establish regular places and times for meetings of the board in the state; the board may conduct meetings telephonically; (4) establish procedures for keeping records of all financial transactions of the association, its agents, and the board; (5) establish terms of office for members of the board, and establish procedures for the selection of the members of the board and for the director's approval of the members selected; (6) establish additional procedures for assessments under AS 21.79.070; (7) establish procedures for removing a member of the board for cause, including procedures for removing a member of the board who becomes an impaired or insolvent insurer; (8) establish policy and procedures for addressing conflicts of interest; and  (9) contain additional provisions necessary or proper for the association to exercise its powers and duties. (d) The plan of operation may delegate the powers and duties of the association, other than those under AS 21.79.060(l)(3) and 21.79.070, to a corporation or other organization performing functions similar to those of the association, or its equivalent, in two or more states. The association shall reimburse the corporation or organization for a payment made for the association and for performing a function of the association. A delegation under this subsection takes effect only with the approval of the board and the director.
AK Stat § 21.79.090 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 79. Alaska Life and Health Insurance Guaranty Association Act|Sec. 21.79.090. Powers and duties of the director.

(a) Upon request of the board, the director shall provide the association with a statement of the premiums in the appropriate states for each member insurer. (b) The director may (1) after notice and hearing as provided in AS 21.06.180 - 21.06.230, suspend or revoke the certificate of authority to transact business in this state of a member insurer that fails to pay an assessment when due or fails to comply with the plan of operation; (2) levy a penalty on a member insurer that fails to comply with the plan of operation; or (3) levy a penalty on a member insurer that fails to pay an assessment when due; if the unpaid assessment is more than $2,000, the penalty may not exceed five percent of the unpaid assessment a month or be less than $100 a month; if the unpaid assessment is $2,000 or less, the penalty is $100 a month. (c) A final action of the board or the association may be appealed to the director by a member insurer if the appeal is taken not later than 60 days after the date the notice of the action is mailed. Final action or order of the director may be reviewed by the superior court. (d) The liquidator, rehabilitator, or conservator of an impaired or insolvent insurer may notify all interested persons of the effect of this chapter.
AK Stat § 21.79.100 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 79. Alaska Life and Health Insurance Guaranty Association Act|Sec. 21.79.100. Prevention of insolvencies.

(a) The director shall notify, by mail, the commissioner, director, or superintendent of insurance of the other states, territories of the United States, and the District of Columbia within 30 days after the date on which the following actions are taken against a member insurer: (1) revocation of a license; (2) suspension of a license; or (3) a formal order that a member insurer restrict its premium writing, obtain additional contributions to surplus, withdraw from the state, reinsure all or any part of its business, or increase capital, surplus, or any other account for the security of policyholders, contract owners, certificate holders, or creditors. (b) The director shall report to the board if an action set out in (a) of this section is taken or a report is received from a state insurance regulator that similar action has been taken in another state. The report to the board must contain all significant details of the action taken or the report received from another insurance regulator. (c) The director shall report to the board if there is reasonable cause to believe, during or after an examination of a member insurer, that the company may be impaired or insolvent. (d) The director shall furnish the board with the NAIC Insurance Regulatory Information System (IRIS) ratios and a listing of companies not included in the ratios developed by the NAIC, and the board may use that information to carry out its duties and responsibilities under this section. The information shall be kept confidential by the board until it is made public by the director. (e) The director may seek the board's advice and recommendations concerning the financial condition of member insurers, insurers, hospital and medical service corporations, and health maintenance organizations who apply for admission to transact insurance business in the state. (f) The board may (1) make reports and recommendations to the director relating to the solvency, liquidation, rehabilitation, or conservation of a member insurer or the solvency of an insurer, hospital or medical service corporation, or health maintenance organization that applies to transact insurance business in the state; the director and the board shall keep the reports and recommendations confidential; (2) notify the director of any information that indicates that a member insurer may be impaired or insolvent. (g) [Repealed, § 46 ch 119 SLA 2000.]  (h) The board may make recommendations to the director for detecting and preventing member insurer insolvencies. (i) [Repealed, § 46 ch 119 SLA 2000.]
AK Stat § 21.79.120 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 79. Alaska Life and Health Insurance Guaranty Association Act|Sec. 21.79.120. Examination of the association, annual report.

The association may be examined by the director. The board shall submit to the director, not later than July 1 of each year, a certified financial report for the preceding calendar year in a form approved by the director and a report of its activities during the preceding calendar year. Nothing in AS 21.79.110(b) limits the duty of the association to report under this section. Upon request, the association shall provide a copy of the report to a member insurer.
AK Stat § 21.79.130 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 79. Alaska Life and Health Insurance Guaranty Association Act|Sec. 21.79.130. Tax exemption.

The association is exempt from payment of all fees and taxes levied by the state or its political subdivisions, other than real property taxes.
AK Stat § 21.79.140 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 79. Alaska Life and Health Insurance Guaranty Association Act|Sec. 21.79.140. Civil immunity.

The association and its agents and employees, members of the Board of Governors, member insurers, and agents and employees of member insurers, and the director and the director's representatives are not civilly liable, and a cause of action of any nature may not arise, for an action or omission in performing duties under this chapter. The immunity extends to the participation in an organization of one or more other state associations of similar purposes and to that organization and its agents or employees.
AK Stat § 21.79.150 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 79. Alaska Life and Health Insurance Guaranty Association Act|Sec. 21.79.150. Stay of proceedings; default judgment.

Proceedings involving an insolvent insurer shall be stayed at least 180 days after the date of a final order of liquidation, rehabilitation, or conservation in order to allow the association to exercise a power or duty authorized under this chapter. If a default judgment is entered against an insolvent insurer, the association may apply to have the judgment set aside or may defend against the action on its merits.
AK Stat § 21.79.170 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 79. Alaska Life and Health Insurance Guaranty Association Act|Sec. 21.79.170. Determination of principal place of business.

The principal place of business of a plan sponsor consisting of (1) a single employer or an employee organization is that state in which the plan sponsor exercises the direction, control, and coordination of the operations of the entity, as determined by the association in its reasonable judgment by considering the following factors: (A) the state in which the primary executive and administrative headquarters of the entity are located; (B) the state in which the principal office of the chief executive officer of the entity is located; (C) the state in which the board of directors or a similar governing body of the entity conducts the majority of its meetings; (D) the state in which the executive or management committee of the board of directors or a similar governing body of the entity conducts the majority of its meetings; (E) the state from which the management of the overall operations of the entity is directed; and (F) in the case of a benefit plan sponsored by affiliated companies making up a consolidated corporation, the state in which the holding company or controlling affiliate has its principal place of business as determined using the factors described in (A) - (E) of this paragraph; however, if more than 50 percent of the participants in the benefit plan are employed in a single state, that state is considered to be the principal place of business of a plan sponsor that is a single employer or an employee organization; (2) two or more employers or employee organizations is that state in which the employers or employee organizations have the largest investment in the benefit plan.
AK Stat § 21.79.180 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 79. Alaska Life and Health Insurance Guaranty Association Act|Sec. 21.79.180. Determination of residency of certain individuals.

A citizen of the United States that is either a (1) resident of a foreign country, or (2) resident of a United States possession, territory, or protectorate that does not have an association similar to the association created by this chapter is, for purposes of this chapter, a resident of the state of domicile of the insurer that issued the policy or contract.
AK Stat § 21.79.990 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 79. Alaska Life and Health Insurance Guaranty Association Act|Sec. 21.79.990. Short title.

This chapter may be cited as the Alaska Life and Health Insurance Guaranty Association Act.
AK Stat § 21.80.010 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 80. Alaska Insurance Guaranty Association Act|Sec. 21.80.010. Purposes.

The purposes of this chapter are to provide a mechanism for the payment of covered claims under certain insurance policies to avoid excessive delay in payment and, to the extent provided in this chapter, to minimize financial loss to claimants or policyholders because of the insolvency of an insurer, and to provide an association to assess the cost of this protection among insurers.
AK Stat § 21.80.020 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 80. Alaska Insurance Guaranty Association Act|Sec. 21.80.020. Applicability.

This chapter applies to all kinds of direct insurance written by an admitted insurer, except that this chapter does not apply to the following: (1) life, annuity, health, or disability insurance; (2) residual value, mortgage guaranty, or financial guaranty of other forms of insurance offering protection against investment risks; (3) bonding obligations, including fidelity or surety bonds; (4) insurance protecting the interests of a creditor arising out of a creditor-debtor transaction, including credit insurance, vendors' single interest insurance, or collateral protection insurance; (5) insurance of warranties or service contracts, including insurance providing for (A) the repair, replacement, or service of goods or property; (B) indemnification for repair, replacement, or service of goods or property; or (C) reimbursement for liability incurred by a person issuing a warranty or service contract; (6) title insurance; (7) a transaction or combination of transactions between a person, including the person's affiliates, and an insurer, including the insurer's affiliates, that involves the transfer of investment or credit risk unaccompanied by the transfer of insurance risk; (8) insurance provided by or guaranteed by a government; (9) a risk retention group formed under 15 U.S.C. 3901 - 3906 (Liability Risk Retention Act); (10) insurance written on a retroactive basis to cover known losses for which a claim has already been made and the claim is known to the insurer at the time the insurance is bound.
AK Stat § 21.80.030 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 80. Alaska Insurance Guaranty Association Act|Sec. 21.80.030. Construction.

This chapter shall be construed to effect the purposes under AS 21.80.010, which constitute an aid and guide to interpretation.
AK Stat § 21.80.040 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 80. Alaska Insurance Guaranty Association Act|Sec. 21.80.040. Creation of association.

(a) There is created a nonprofit incorporated legal entity to be known as the Alaska Insurance Guaranty Association. All insurers defined as member insurers in AS 21.80.180 shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association shall perform its functions under a plan of operation established and approved under AS 21.80.070 and shall exercise its powers through a board of governors established under AS 21.80.050. For purposes of administration and assessment, the association shall be divided into three separate accounts: the workers' compensation insurance account; the automobile insurance account; and the account for all other insurance to which this chapter applies. (b) A member insurer ceases to be a member on the day following the termination or expiration of the member insurer's license to transact the kinds of insurance to which this chapter applies; however, the insurer remains liable as a member insurer for any and all obligations, including obligations for assessments levied before the termination or expiration of the member insurer's license and assessments levied after the termination or expiration with respect to an insurer that became an insolvent insurer before the termination or expiration of the insurer's license.
AK Stat § 21.80.050 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 80. Alaska Insurance Guaranty Association Act|Sec. 21.80.050. Board of governors.

(a) The board of governors of the association consists of not fewer than five nor more than nine members as specified in and serving terms as established in the plan of operation. The director may appoint two individuals as members of the board to represent the public. The insurer members of the board shall be selected by member insurers, subject to the approval of the director. A vacancy in a board membership held by an insurer member shall be filled for the remaining period of the term by a majority vote of the remaining board members, subject to the approval of the director. If an insurer member is not selected to fill a vacancy on the board of governors within 90 days of the vacancy, the director may appoint a member for the remaining period of the term. A vacancy in a board membership held by a representative of the public may be filled by the director. A board member who represents the public may not be an officer, director, or employee of an insurer and may not be engaged in the business of insurance. (b) In approving member insurer selections to the board, the director shall consider among other things whether all member insurers are fairly represented. (c) Members of the board may be reimbursed from the assets of the association for expenses incurred by them as members of the board of governors.
AK Stat § 21.80.080 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 80. Alaska Insurance Guaranty Association Act|Sec. 21.80.080. Duties and powers of the director.

(a) The director shall (1) notify the association of the existence of an insolvent insurer no later than three days after the director receives notice of the determination of the insolvency; (2) upon request of the board of governors, provide the association with a statement of the net direct written premiums of each member insurer. (b) The director may (1) suspend or revoke, after notice and hearing, the certificate of authority to transact insurance in this state of any member insurer that fails to pay an assessment when due or fails to comply with the plan of operation; as an alternative, the director may levy a fine on any member insurer that fails to pay an assessment when due; this fine may not exceed five percent of the unpaid assessment per month or portion of a month, except that a fine may not be less than $250 a month; (2) revoke the designation of any servicing facility upon a finding that claims are being handled unsatisfactorily; (3) upon a finding by the superior court that the board of governors has failed to comply with a requirement of this chapter or the plan of operation, assume the powers of the board of governors under AS 21.80.060.
AK Stat § 21.80.090 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 80. Alaska Insurance Guaranty Association Act|Sec. 21.80.090. Effect of paid claims.

(a) A person recovering under this chapter is considered to have assigned the person's rights under the policy to the association to the extent of the recovery from the association. Every insured or claimant seeking the protection of this chapter shall cooperate with the association to the same extent as the person would have been required to cooperate with the insolvent insurer. The association does not have a cause of action against the insured of the insolvent insurer for any sums the association has paid out except a cause of action the insolvent insurer would have had if the sums had been paid by the insolvent insurer and except as provided under (b) of this section. In the case of an insolvent insurer operating on a plan with assessment liability, payments of claims of the association do not operate to reduce the liability of insured to the receiver, liquidator, or statutory successor for unpaid assessments. (b) The association or a similar organization in another state shall be recognized as a claimant in the liquidation of an insolvent insurer for amounts paid by the association or the similar organization on covered claims as determined by this chapter or a similar law of another state and shall receive distributions as provided under AS 21.78.260 or a similar law of another state. The receiver, liquidator, or statutory successor of an insolvent insurer shall be bound by settlements of covered claims by the association or a similar organization in another state to the extent the settlement satisfies obligations of the association. The receiver may not be bound in any way by a settlement of covered claims to the extent there remains a claim that exceeds the claims limit imposed under AS 21.80.060. The court having jurisdiction shall grant these claims priority against the assets of the insolvent insurer equal to the priority that the claimant would have been entitled to in the absence of this chapter. The expenses of the association or similar organization in handling claims shall be accorded the same priority as the liquidator's expenses. (c) The association shall periodically file with the receiver or liquidator of the insolvent insurer statements of the covered claims paid by the association and estimates of anticipated claims on the association which shall preserve the rights of the association against the assets of the insolvent insurer.
AK Stat § 21.80.095 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 80. Alaska Insurance Guaranty Association Act|Sec. 21.80.095. Prohibited claims.

An insurer, reinsurer, insurance pool, or underwriting association may not assert a claim against a person insured under a policy issued by an insolvent insurer except for an amount not covered by the claims limit established under AS 21.80.060.
AK Stat § 21.80.100 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 80. Alaska Insurance Guaranty Association Act|Sec. 21.80.100. Nonduplication of recovery.

(a) A person having a claim against an insurer, whether or not the insurer is a member insurer, under a provision in an insurance policy other than a policy of an insolvent insurer that is also a covered claim is required to exhaust first the person's right under the policy. An amount payable on a covered claim under this chapter shall be reduced by the amount of recovery under the insurance policy. (b) A person having a claim which may be recovered under more than one insurance guaranty association or its equivalent shall seek recovery first from the association of the place of residence of the insured except that if it is a first party claim for damage to property with a permanent location, the person shall seek recovery first from the association of the location of the property, and if it is a workers' compensation claim, the person shall seek recovery first from the association of the residence of the claimant. A recovery under this chapter shall be reduced by the amount of recovery from any other insurance guaranty association or its equivalent.
AK Stat § 21.80.110 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 80. Alaska Insurance Guaranty Association Act|Sec. 21.80.110. Prevention of insolvencies.

The board of governors may (1) upon a majority vote, make recommendations to the director regarding matters generally related to improving or enhancing regulation for insurer solvency; or (2) at the conclusion of an insurer insolvency in which the association was obligated to pay covered claims, prepare a report on the history and causes of the insolvency, based on the information available to the association, and submit this report to the director.
AK Stat § 21.80.120 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 80. Alaska Insurance Guaranty Association Act|Sec. 21.80.120. Examination of the association.

The association is subject to examination and regulation by the director. The board of governors shall submit, not later than June 30 of each year, a certified financial report for the preceding calendar year in a form approved by the director.
AK Stat § 21.80.130 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 80. Alaska Insurance Guaranty Association Act|Sec. 21.80.130. Tax exemption.

The association is exempt from payment of all fees and all taxes levied by the state or any of its subdivisions except taxes levied on real or personal property.