reglab/housing_qa huggingface dataset:
AK Stat § 21.22.175 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 22. Insurance Holding Companies|Sec. 21.22.175. Criminal penalties.

(a) An insurer or a director, officer, employee, or agent of an insurer who knowingly violates this chapter is guilty of a class C felony. (b) A director, officer, or employee of an insurance holding company system who knowingly subscribes to or makes or causes to be made a false statement, false report, or false filing with the intent to deceive the director under this chapter is guilty of a class C felony. (c) An insurer may not pay a fine imposed by a court on a director, officer, employee, or agent that is sentenced under (a) or (b) of this section. The fine must be paid by the director, officer, employee, or agent in the director's, officer's, employee's, or agent's individual capacity. (d) In this section, “knowingly” has the meaning given in AS 11.81.900(a).
AK Stat § 21.22.180 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 22. Insurance Holding Companies|Sec. 21.22.180. Receivership.

(a) If it appears to the director that a person has committed a violation of this chapter that so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders, creditors, shareholders, or the public, then the director may proceed as provided in AS 21.78 to take possession of the property of that domestic insurer and to conduct its business. (b) This section does not apply to a violation involving a security that constitutes an acquisition covered by AS 21.22.065.
AK Stat § 21.22.190 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 22. Insurance Holding Companies|Sec. 21.22.190. Revocation, suspension, or nonrenewal of insurer's authority.

If the director finds, after giving notice and an opportunity to be heard, that a person has committed a violation of this chapter that makes the continued operation of an insurer contrary to the interests of its policyholders or the public, the director may suspend, revoke, or refuse to renew the insurer's license or authority to do business in this state for a period that the director finds is required for the protection of policyholders or the public. Such a determination by the director must be accompanied by specific findings of fact and conclusions of law.
AK Stat § 21.23.010 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 23. Risk Management; Own Risk and Solvency Assessment|Sec. 21.23.010. Risk management framework.

An insurer shall maintain a risk management framework to assist the insurer with identifying, assessing, monitoring, managing, and reporting on its material and relevant risks. This requirement may be satisfied if the insurance group of which the insurer is a member maintains a risk management framework applicable to the operations of the insurer.
AK Stat § 21.23.020 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 23. Risk Management; Own Risk and Solvency Assessment|Sec. 21.23.020. Own risk and solvency assessment requirement.

Unless exempted under AS 21.23.040, an insurer or the insurance group of which the insurer is a member shall conduct an own risk and solvency assessment consistent with the own risk and solvency assessment guidance manual (1) annually; and (2) when significant changes to the risk profile of the insurer or the insurance group of which the insurer is a member occur.
AK Stat § 21.23.030 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 23. Risk Management; Own Risk and Solvency Assessment|Sec. 21.23.030. Own risk and solvency assessment summary report.

(a) If requested by the director, an insurer shall submit an own risk and solvency assessment summary report or any combination of reports that together contain the information described in the own risk and solvency assessment guidance manual that is applicable to the insurer or the insurance group of which the insurer is a member. The director may not request more than one report a year. The insurer shall submit the report to the director within 30 days after the request, unless the insurer requests an extension in writing and the director grants the request. If an insurer is a member of an insurance group, the insurer shall submit the report required by this subsection at least annually if the director is the lead state regulator of the insurance group as determined by the procedures in the Financial Analysis Handbook adopted by the National Association of Insurance Commissioners. (b) For a report submitted under this section, an insurer's or insurance group's chief risk officer or other executive having responsibility for the oversight of the insurer's enterprise risk management process shall sign the report and attest, to the best of the officer's or executive's belief and knowledge, that the insurer applies the enterprise risk management process described in the report and that a copy of the report has been provided to the insurer's board of directors or the appropriate committee of the board. (c) An insurer may comply with (a) of this section by providing the most recent and substantially similar report or reports provided by the insurer or another member of the insurance group of which the insurer is a member to the insurance regulator of another state or a foreign jurisdiction, if that report provides information that is comparable to the information described in the own risk and solvency assessment guidance manual. A report in a language other than English must be accompanied by a translation of that report into the English language.
AK Stat § 21.23.050 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 23. Risk Management; Own Risk and Solvency Assessment|Sec. 21.23.050. Contents of own risk and solvency assessment summary report.

(a) The own risk and solvency assessment summary report under AS 21.23.030 must be prepared in compliance with the own risk and solvency assessment guidance manual, subject to the requirements of (b) of this section. The insurer shall maintain documentation and supporting information relating to the assessment and make the documentation and information available on examination or on request of the director. (b) The director shall use the procedures currently used in the analysis and examination of multistate or global insurers and insurance groups when reviewing the report and additional requests for information.
AK Stat § 21.23.060 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 23. Risk Management; Own Risk and Solvency Assessment|Sec. 21.23.060. Confidentiality.

Documents, materials, or other information, including the own risk and solvency assessment summary report, that are obtained by, created by, or disclosed to the director or another person under this chapter are confidential and are considered trade secrets and proprietary business information subject to AS 21.06.060 and AS 21.22.120. A third-party consultant is subject to the information sharing requirements of AS 21.22.120(b).
AK Stat § 21.23.070 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 23. Risk Management; Own Risk and Solvency Assessment|Sec. 21.23.070. Penalties.

An insurer shall pay $1,000 for each day the insurer fails to file the report within the time required in AS 21.23.030(a), not to exceed $365,000. The director may reduce the penalty under this section if the insurer demonstrates to the director that the imposition of the penalty is a financial hardship to the insurer.
AK Stat § 21.23.080 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 23. Risk Management; Own Risk and Solvency Assessment|Sec. 21.23.080. Regulations.

The director may adopt regulations to implement, define, and enforce the provisions of this chapter.
AK Stat § 21.23.090 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 23. Risk Management; Own Risk and Solvency Assessment|Sec. 21.23.090. Definitions.

In this chapter, (1) “insurance group” means those insurers and affiliates included in an insurance holding company system as defined in AS 21.22.200; (2) “insurer” has the meaning given in AS 21.97.900, except that it does not include agencies, authorities, or instrumentalities of the United States or a possession or territory of the United States, the Commonwealth of Puerto Rico, the District of Columbia, or a state or political subdivision of a state; (3) “own risk and solvency assessment” means a confidential internal assessment, appropriate to the nature, scale, and complexity of an insurer or insurance group, conducted by that insurer or insurance group of the material and relevant risks associated with the insurer's or insurance group's current business plan and the sufficiency of capital resources to support those risks; (4) “own risk and solvency assessment guidance manual” means the Own Risk and Solvency Assessment Guidance Manual developed and most recently adopted by the National Association of Insurance Commissioners; (5) “own risk and solvency assessment summary report” means a confidential, high-level summary of an insurer's or insurance group's own risk and solvency assessment; (6) “risk management framework” means a set of internal policies or procedures that address an insurer's or insurance group's risk culture and governance, risk identification and prioritization, risk appetite, tolerance and limits, risk management controls, and risk reporting and communication as described in and most recently adopted by the own risk and solvency assessment guidance manual.
AK Stat § 21.24.010 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 24. Administration of Deposits|Sec. 21.24.010. Authorized deposits of insurers.

The following deposits of insurers when made through the director shall be accepted and held and are subject to the provisions of this chapter: (1) deposits required under this title for authority to transact insurance in this state; (2) deposits of domestic insurers when made under the laws of other states, provinces, and countries as requirement for authority to transact insurance in the state, province, or country; (3) deposits in the additional amounts that are permitted to be made under AS 21.24.100.
AK Stat § 21.24.020 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 24. Administration of Deposits|Sec. 21.24.020. Purpose of deposits.

The deposits shall be held for purposes as follows: (1) deposits made in this state under AS 21.09.090 shall be held for the purpose stated in that section; (2) a deposit made in this state by a domestic insurer transacting insurance in another state, province, or country, in accordance with the laws of the other state, province, or country, shall be held for the protection of all creditors or for the other purpose or purposes that may be specified under those laws; (3) deposits required under AS 21.09.270 shall be held for the purposes required by the retaliatory law and specified in the director's order requiring the deposit to be made.
AK Stat § 21.24.030 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 24. Administration of Deposits|Sec. 21.24.030. Securities eligible for deposits.

(a) All deposits required under AS 21.09.090 for authority to transact insurance in this state shall consist of certificates of deposit or any combination of rated credit instruments of the United States, Canada, or a state of the United States. (b) Deposits of a domestic insurer held in this state under the laws of another state, province, or country shall be comprised of assets of the kinds described in (a) of this section, and of the additional kind or kinds of securities required or permitted by the laws of the state, province, or country except common stocks, mortgages of any kind, and real estate. (c) Deposits of foreign insurers made in this state under AS 21.09.270 shall consist of the assets required by the director under the law.
AK Stat § 21.24.040 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 24. Administration of Deposits|Sec. 21.24.040. Depositary or custodian.

(a) Deposits made in this state under this title shall be made through the office of the director under custodial arrangements as required or approved by the director consistent with the purposes of the deposit, with an established safe deposit institution, bank, or trust company located in this state selected by the insurer with the director's approval. (b) [Repealed, § 34 ch 1 FSSLA 2005.]  (c) If of convenience to the insurer in the buying, selling, and exchange of securities making up its deposit, and in the collection of interest and other income currently accruing on the securities, the insurer may, with the director's advance written approval, deposit a portion of the securities under custodial arrangements with an established bank or trust company located outside this state, if receipts representing all the securities are issued by the custodial bank or trust company and are held in custody subject to the requirements of (a) of this section. (d) The form and terms of all depositary or custodial agreements shall be as prescribed or approved by the director consistent with the applicable provisions of this title. (e) The compensation and expenses of the depositary or custodian shall be borne by the insurer.
AK Stat § 21.24.050 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 24. Administration of Deposits|Sec. 21.24.050. Record of deposits.

(a) The director shall give to the depositing insurer vouchers of all assets and securities deposited by it in this state through the director as provided in this title. (b) The director shall keep a record of the assets and securities comprising each deposit, showing as far as practical the amount and market value of each item, and all transactions regarding them.
AK Stat § 21.24.060 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 24. Administration of Deposits|Sec. 21.24.060. Liability of director and state.

The director and the state are not liable for the safekeeping of a deposit by the depositary or custodian.
AK Stat § 21.24.070 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 24. Administration of Deposits|Sec. 21.24.070. Assignment, conveyance of assets or securities.

All securities not negotiable by delivery and deposited under this title shall be assigned to the director and successors in office. In the case of securities held under custodial arrangements outside this state under AS 21.24.040(c), the custodian's receipt for the securities shall be delivered, if negotiable, or assigned to the director if thereby legal title to the securities is vested in the director. The insurer shall transfer or convey to the director and successors in office all other assets so deposited. Upon release to the insurer of the asset or security the director shall reassign or transfer or reconvey it to the insurer.
AK Stat § 21.24.080 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 24. Administration of Deposits|Sec. 21.24.080. Appraisal.

The director may before acceptance for deposit of any particular asset or security, or at any time thereafter while so deposited, have the asset or security appraised by competent appraisers. The reasonable costs of the appraisal shall be borne by the insurer.
AK Stat § 21.24.090 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 24. Administration of Deposits|Sec. 21.24.090. Rights of insurer during solvency.

If the insurer remains solvent and is in compliance with this title it may (1) demand, receive, sue for, and recover the income from the assets or securities deposited; (2) exchange and substitute for the deposited assets or securities, or any part thereof, other eligible assets or securities of equivalent or greater value; (3) at any reasonable time inspect the deposit.
AK Stat § 21.24.100 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 24. Administration of Deposits|Sec. 21.24.100. Excess deposits.

An insurer may deposit and have on deposit assets or securities in an amount exceeding its deposit required or otherwise permitted under this title by no more than 20 percent of the required or permitted deposit or $50,000, whichever is the larger amount, for the purpose of absorbing fluctuations in the value of assets and securities deposited and to facilitate the exchange and substitution of the assets and securities. During the solvency of the insurer an excess shall be released to the insurer upon its request. During the insolvency of the insurer the excess deposit shall be released only in accordance with AS 21.24.130(d).
AK Stat § 21.24.120 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 24. Administration of Deposits|Sec. 21.24.120. Deficiency of deposit.

If the market value of assets and securities of an insurer held on deposit in this state, or in another state under custodial arrangements authorized by AS 21.24.040(c), falls below the amount required under this title, the insurer shall promptly deposit other or additional assets or securities eligible for deposit under this chapter and in an amount sufficient to cure the deficiency. If the insurer fails to cure the deficiency within 20 days after receipt of notice by registered mail from the director, the director shall immediately revoke the insurer's certificate of authority.
AK Stat § 21.33.011 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 33. Unauthorized Insurers|Sec. 21.33.011. Purpose.

The legislature declares that insurance transactions with nonadmitted insurers are so affected with a public interest as to require regulation, taxation, supervision, and control of the transactions and matters relating to nonadmitted insurance as provided in this chapter in order to (1) protect the insureds and claimants of this state in transactions involving the purchase of insurance from nonadmitted insurers; (2) avoid the obstacle of resorting to distant forums for the purpose of asserting legal rights under policies issued by nonadmitted insurers; (3) provide a method of substituted service of process upon nonadmitted insurers for proceedings before the director and in the courts in this state; (4) provide for the public the ability to self-procure insurance directly from nonadmitted insurers; (5) protect the revenue of the state; (6) protect regulated, admitted insurers from unregulated and unfair competition by nonadmitted insurers; (7) regulate and supervise the effectuation of nonadmitted insurance under the laws of this state and 15 U.S.C. 1011; and (8) maintain reliable insurance markets.
AK Stat § 21.33.031 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 33. Unauthorized Insurers|Sec. 21.33.031. Defendant's duties and rights.

(a) Before an unauthorized person or nonadmitted insurer files or causes to be filed a pleading, a court action, suit, or proceeding or a notice, order, pleading, or process in an administrative proceeding before the director instituted against the person or insurer, by service made as provided in AS 21.33.021 or 21.33.025, the person or insurer shall either (1) deposit with the clerk of the court in which the action, suit, or proceeding is pending, or with the director in administrative proceedings before the director, cash or securities or bond with an admitted insurer to be approved by the court, or the director, in an amount to be fixed by the court or the director sufficient to secure the payment of a final judgment that may be rendered in the court proceeding or in the administrative proceeding before the director; however the court, or the director in administrative proceedings before the director, may in its or the director's discretion make an order dispensing with the deposit or bond where the insurer makes a showing satisfactory to the court or the director that it maintains in a state of the United States funds or securities, in trust or otherwise, sufficient and available to satisfy a final judgment that may be entered in the court action, suit, or proceeding or in an administrative proceeding before the director; or (2) obtain admission to transact insurance in this state through a certificate of authority issued under this title. (b) The court in an action, suit, or proceeding in which service is made as provided in AS 21.33.021 or AS 21.33.025, or the director in an administrative proceeding before the director in which service is made as provided in AS 21.33.025, may order postponement that may be necessary to afford the defendant reasonable opportunity to comply with (a) of this section and to offer a defense in the court action or administrative proceeding. (c) Nothing in (a) of this section may be construed to prevent an unauthorized person or nonadmitted insurer from filing a motion to quash a writ or to set aside service made as provided in AS 21.33.021 or 21.33.025 on the ground that the unauthorized person or insurer has not transacted insurance in this state or relative to a subject resident, located, or to be performed in this state or that the person on whom service was made under AS 21.33.021(d) was not transacting insurance in this state or relative to a subject resident, located, or to be performed in this state.
AK Stat § 21.33.035 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 33. Unauthorized Insurers|Sec. 21.33.035. Attorney fees.

In an action against an unauthorized person or nonadmitted insurer upon a contract of insurance issued or delivered in this state to a resident or to a corporation authorized to do business in this state, if the person or insurer has failed for 30 days after demand before the commencement of the action to make payment in accordance with the terms of the contract, and it appears to the court that the refusal was vexatious and without reasonable cause, the court may allow to the plaintiff a reasonable attorney fee and include the fee in the judgment that may be rendered in the action. Failure of the person or insurer to defend the action shall be considered prima facie evidence that its failure to make payment was vexatious and without reasonable cause.
AK Stat § 21.33.037 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 33. Unauthorized Insurers|Sec. 21.33.037. Acting for or aiding nonadmitted insurers prohibited.

(a) A person may not directly or indirectly act as agent for, or otherwise represent, assist, or aid on behalf of another, a nonadmitted insurer in the transaction of insurance in this state. (b) This section does not apply to (1) matters authorized to be done by the director; (2) surplus lines insurance effected and written under AS 21.34; (3) transactions for which a certificate of authority is not required under this title; (4) reinsurance; (5) the property and operations of railroads or aircraft primarily engaged in interstate or foreign commerce and wet marine and transportation insurance; (6) life insurance, health insurance, and annuity contracts when solicited solely by mail or when not solicited, negotiated, or procured in this state; (7) transactions subsequent to issuance of a policy not covering a subject resident, located, or to be performed in this state at time of issuance and lawfully solicited, written, or delivered outside this state. (c) In addition to other penalties under this title, a person who represents or aids a nonadmitted insurer in violation of this chapter is subject to the penalties provided in AS 21.33.065. This chapter does not preclude the insured from enforcing, under the terms and provisions of the contract and the laws of this state, the insured's rights under a contract entered into in violation of this chapter. (d) If the nonadmitted insurer fails to pay a claim or loss within the provisions of the insurance contract, a person who assisted or in any manner aided directly or indirectly in the procurement of the insurance contract, shall be liable to the insured for the full amount under the provisions of the insurance contract.