reglab/statecodes huggingface dataset:
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 21 - Insurer - Financial › Article 9 - Custodian of Insurer Assets › 3 AAC 21.870 - Requirements for deposits with affiliates

Current through May 31, 2024
(a) An insurer may
				  deposit securities with an affiliated insurer if the securities are deposited
				  in accordance with a written agreement authorized by the board of directors of
				  the depositing insurer, or by an authorized committee of the board of directors
				  of the depositing insurer, and if the affiliated insurer is organized under the
				  laws of a state of the United States. If the states of domicile of the
				  depositing insurer and the affiliated insurer are different, the depositing
				  insurer shall give notice of the proposed deposit 30 days before the effective
				  date of the deposit to the insurance regulatory official in the domiciliary
				  state of the depositing insurer. If within 30 days after the receipt of the
				  notice the insurance regulatory official objects to the deposit, the depositing
				  insurer may not make the proposed deposit.
(b) The written agreement between the
				  depositing insurer and the affiliated insurer must require the affiliated
				  insurer receiving the deposit to
(1) maintain
				  records adequate to identify and verify the securities belonging to the
				  depositing insurer; and
(2) allow
				  representatives of an appropriate regulatory body to examine records relating
				  to securities held under the agreement.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 21 - Insurer - Financial › Article 9 - Custodian of Insurer Assets › 3 AAC 21.875 - Custodian affidavit when securities held by the custodian have not been redeposited elsewhere; Form A

Current through May 31, 2024
A custodian required to produce an affidavit under
					 3 AAC 21.865(a) (11) when securities
					 held by the custodian have not been redeposited elsewhere must use the
					 following form, substituting the judicial district for the county if the
					 affidavit is executed in this state:
FORM A
CUSTODIAN AFFIDAVIT
[For use by a custodian where securities entrusted to its
					 care have not been redeposited elsewhere.]
STATE OF _____________________________________)) COUNTY OF
					 _____________________________________)
					 _____________________________________________________________________)
I, (name of officer), being duly sworn depose and say that
					 I am (title of officer) of (name of custodian), a corporation organized under
					 and pursuant to the laws of the (state) with the principal place of business at
					 (address) (hereinafter "corporation"):
That my duties involve supervision of activities as
					 custodian and records relating thereto;
That the corporation is custodian for certain securities of
					 (insurer) having a place of business at (address) (hereinafter "insurer")
					 pursuant to an agreement between the corporation and the insurer;
That the schedule attached hereto is a true and complete
					 statement of securities that were in the custody of the corporation for the
					 account of the insurer as of the close of business on (date); that, unless
					 otherwise indicated on the schedule, the next maturing and all subsequent
					 coupons were then either attached to coupon bonds or in the process of
					 collection; and that, unless otherwise shown on the schedule, all such
					 securities were in bearer form or in registered form in the name of the insurer
					 or its nominee or of the corporation or its nominee, or were in the process of
					 being registered in such form;
That the corporation as custodian has the responsibility
					 for the safekeeping of such securities as that responsibility is specifically
					 set out in the agreement between the corporation as custodian and the insurer;
					 and
That, to the best of my knowledge and belief, unless
					 otherwise shown on the schedule, the securities were the property of the
					 insurer and were free of all liens, claims, or encumbrances whatsoever.
_________ Vice President or _________ [other authorized
					 corporation officer]
Subscribed and sworn to before me this _________ day of
					 ___________________, 20 _________.
_________
Notary Public in and for _________
Authority:
AS
						21.06.090
AS
						21.21.410
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 21 - Insurer - Financial › Article 9 - Custodian of Insurer Assets › 3 AAC 21.880 - Custodian affidavit when securities are on deposit with the depository trust company or like entity; Form B

Current through May 31, 2024
A custodian required to produce an affidavit under
					 3 AAC 21.865(a) (11) when securities
					 are on deposit with The Depository Trust Company or a similar entity must use
					 the following form, substituting the judicial district for the county if the
					 affidavit is executed in this state:
FORM B
CUSTODIAN AFFIDAVIT
[For use by a custodian where securities entrusted to its
					 care are on deposit with The Depository Trust Company or other like holding
					 entity.]
STATE OF _____________________________________)) COUNTY OF
					 _____________________________________) _____________________________________
					)
I, (name of officer), being duly sworn depose and say that
					 I am (title of officer) of (name of custodian), a corporation organized under
					 and pursuant to the laws of the (state) with the principal place of business at
					 (address) (hereinafter "corporation"):
That my duties involve supervision of activities as
					 custodian and records relating thereto;
That the corporation is custodian for certain securities of
					 (insurer) having a place of business at (address) (hereinafter "insurer")
					 pursuant to an agreement between the corporation and the insurer;
That the corporation has caused certain of the securities
					 to be deposited with (holding entity name) and that the schedule attached
					 hereto is a true and complete statement of the securities of the insurer of
					 which the corporation was custodian as of the close of business on (date),
					 which were so deposited on that date;
That the corporation as custodian has the responsibility
					 for the safekeeping of the securities both in the possession of the corporation
					 or deposited with (holding entity name) as is specifically set out in the
					 agreement between the corporation as custodian and the insurer; and
That, to the best of my knowledge and belief, unless
					 otherwise shown on the schedule, the securities were the property of the
					 insurer and were free of all liens, claims, or encumbrances whatsoever.
_________ Vice President or [other authorized corporation
					 officer]
Subscribed and sworn to before me this _________ day of
					 ___________________, 20 _________.
_________
Notary Public in and for _________
Authority:
AS
						21.06.090
AS
						21.21.410
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 21 - Insurer - Financial › Article 9 - Custodian of Insurer Assets › 3 AAC 21.885 - Custodian affidavit when security ownership is evidenced by book entry at a federal reserve bank; Form C

Current through May 31, 2024
A custodian required to produce an affidavit under
					 3 AAC 21.865(a) (11) when securities
					 are evidenced by book-entry at a Federal Reserve Bank must use the following
					 form, substituting the judicial district for the county if the affidavit is
					 executed in this state:
FORM C
CUSTODIAN AFFIDAVIT
[For use by a custodian where security ownership is
					 evidenced by book entry at a Federal Reserve Bank.]
STATE OF _____________________________________)) COUNTY OF
					 _____________________________________) _____________________________________
					)
I, (name of officer), being duly sworn depose and say that
					 I am (title of officer) of (name of custodian), a corporation organized under
					 and pursuant to the laws of the (state) with the principal place of business at
					 (address) (hereinafter "corporation"):
That my duties involve supervision of activities as
					 custodian and records relating thereto;
That the corporation is custodian for certain securities of
					 (insurer) having a place of business at (address) (hereinafter "insurer")
					 pursuant to an agreement between the corporation and the insurer;
That the corporation has caused certain securities to be
					 credited to its book entry account with the Federal Reserve Bank of
					 _____________________________________ under the TRADES or Treasury Direct
					 system; and that the schedule attached hereto is a true and complete statement
					 of the securities of the insurer of which the corporation was custodian as of
					 the close of business on (date), which were in a "general" book entry account
					 maintained in the name of the corporation on the books and records of the
					 Federal Reserve Bank of _____________________________________ at that
					 date;
That the corporation as custodian has the responsibility
					 for the safekeeping of the securities both in the possession of the corporation
					 or in the ''general'' book entry account as is specifically set out in the
					 agreement between the corporation as custodian and the insurer; and
That, to the best of my knowledge and belief, unless
					 otherwise shown on the schedule, the securities were the property of the
					 insurer and were free of all liens, claims, or encumbrances whatsoever.
_________ Vice President or [other authorized corporation
					 officer]
Subscribed and sworn to before me this _________ day of
					 ___________________, 20 _________.
_________
Notary Public in and for _________
Authority:
AS
						21.06.090
AS
						21.21.410
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 21 - Insurer - Financial › Article 9 - Custodian of Insurer Assets › 3 AAC 21.890 - Limitation on foreign custodians

Current through May 31, 2024
A foreign bank acting as a custodian, a United States
					 custodian's foreign agent, or a foreign clearing corporation may only hold
					 foreign securities or securities required by a foreign country in order for the
					 insurer to do business in that country. A United States custodian must hold all
					 other securities for the insurer.
Authority:
AS
						21.06.090
AS
						21.21.410
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 21 - Insurer - Financial › Article 9 - Custodian of Insurer Assets › 3 AAC 21.895 - Noncompliance

Current through May 31, 2024
(a) Failure to comply with
				  3 AAC 21.865 -
				  3 AAC 21.899 will result in the treatment of an
				  insurer's securities as nonadmitted assets for purposes of each financial
				  statement filed with the director.
(b) If an insurer entered into a custody
				  agreement before August 31, 2008, the insurer shall bring that agreement into
				  compliance with
				  3 AAC 21.865 -
				  3 AAC 21.899 on or before June 30, 2009.
Authority:
AS
						21.06.090
AS
						21.21.410
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 21 - Insurer - Financial › Article 9 - Custodian of Insurer Assets › 3 AAC 21.899 - Definitions

Current through May 31, 2024
In
					 3 AAC 21.865 -
					 3 AAC 21.899, unless the context requires
					 otherwise,
(1) "affiliate" or
				  "affiliated" has the meaning given in
				  AS
				  21.22.200;
(2) "agent" means a national bank, state
				  bank, trust company, or broker-dealer that maintains an account in its name in
				  a clearing corporation or is a member of the Federal Reserve System and through
				  which a custodian participates in a clearing corporation, including the
				  Treasury/Reserve Automated Debt Entry System (TRADES) or Treasury Direct
				  system; with respect to securities issued by institutions organized or existing
				  under the laws of a foreign country or securities used to meet the deposit
				  requirements under the laws of a foreign country as a condition of doing
				  business there, "agent" also includes a corporation that
(A) is organized or exists under the laws of
				  a foreign country; and
(B) is
				  legally qualified under those laws to accept custody of securities;
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 21 - Insurer - Financial › Article 10 - Valuation of Life Insurance Policies › 3 AAC 21.900 - Applicability

Current through May 31, 2024
The provisions of
					 3 AAC 21.900 -
					 3 AAC 21.949 apply to a life insurance policy issued on
					 or after January 1, 2011 except for
(1) an individual life insurance policy
				  issued in accordance with and as a result of the exercise of a reentry
				  provision contained in the original life insurance policy that was issued
				  before January 1, 2011 or a subsequent policy issued as a result of the
				  exercise of a reentry provision or derivation of a reentry provision in a
				  subsequent policy in which
(A) the face amount
				  of the policy is greater than or equal to the face amount of the original life
				  insurance policy; and
(B) the
				  original life insurance policy guarantees the premium rates of the new
				  policy;
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 21 - Insurer - Financial › Article 10 - Valuation of Life Insurance Policies › 3 AAC 21.905 - Basic reserves and premium deficiency reserves

Current through May 31, 2024
(a) An insurer,
(1) for policies issued before January 1,
				  2009, may elect to use the 1980 CSO valuation tables with select mortality
				  factors or other valuation mortality tables under
				  3 AAC 28.600 -
				  3 AAC 28.690 as the minimum mortality standard for basic
				  reserves for one or more specified types of life insurance policies;
(2) for policies issued on or after January
				  1, 2009, shall use valuation mortality tables under
				  3 AAC 28.600 -
				  3 AAC 28.690, as required under
				  3 AAC 28.620(c), as the minimum
				  mortality standard for basic reserves for one or more specified types of life
				  insurance policies.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 21 - Insurer - Financial › Article 10 - Valuation of Life Insurance Policies › 3 AAC 21.910 - Minimum valuation standard for policies with guaranteed non-level gross premiums or guaranteed non-level benefits

Current through May 31, 2024
(a) Basic reserves
				  for policies with guaranteed non-level gross premiums or guaranteed non-level
				  benefits, other than universal life insurance policies, must be the larger of
				  segmented reserves and unitary reserves subject to the following:
(1) segmented reserves and unitary reserves
				  must use the same valuation mortality table and selection factor;
(2) in calculating segmented reserves and net
				  premiums, the insurer may elect to either
(A)
				  if the unitary reserve applicable at the end of each segment is greater than
				  zero, treat that unitary reserve as a pure endowment and subtract the unitary
				  reserve applicable at the beginning of each segment from the present value of
				  guaranteed life insurance and endowment benefits for each segment; or
(B) if the guaranteed cash surrender value
				  applicable at the end of each segment is greater than zero, treat that
				  guaranteed cash surrender value as a pure endowment and subtract the guaranteed
				  cash surrender value applicable at the beginning of each segment from the
				  present value of guaranteed life insurance and endowment benefits for each
				  segment.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 21 - Insurer - Financial › Article 10 - Valuation of Life Insurance Policies › 3 AAC 21.915 - Additional valuation standard for policies with guaranteed non-level gross premiums or guaranteed non-level benefits

Current through May 31, 2024
(a) For a policy
				  with guaranteed non-level gross premiums or guaranteed non-level benefits,
				  other than a universal life policy, and with an unusual pattern of guaranteed
				  cash surrender values,
(1) the reserves held
				  before the first unusual guaranteed cash surrender value may not be less than
				  the reserves calculated by treating the first unusual guaranteed cash surrender
				  value as a pure endowment and treating the policy as a term policy plus an
				  endowment equal to the unusual cash surrender value, where the term of the
				  policy is the number of years from the date of issue to the date the unusual
				  cash surrender value is scheduled; or
(2) the reserves held after an unusual
				  guaranteed cash surrender value may not be less than the reserves calculated by
				  treating the policy as a term policy plus a pure endowment equal to the next
				  unusual guaranteed cash surrender value and treating any unusual guaranteed
				  cash surrender value at the end of the previous segment as a net single premium
				  in which
(A) the term of the policy is the
				  number of years from the date of the last unusual guaranteed cash surrender
				  value before the valuation date to the earlier of
(i) the date of the next unusual guaranteed
				  cash surrender value, if any, that is scheduled after the valuation date;
				  or
(ii) the mandatory expiration
				  date of the policy; or
(B) the net premium for a given year during
				  the term of the policy is equal to the respective gross premium multiplied by
				  the net-to-gross ratio; for purposes of this subparagraph, the net-to-gross
				  ratio is calculated by adding together the present value at the beginning of
				  the term of the policy of death benefits payable during the term of the policy
				  and the present value at the beginning of the term of the policy of the next
				  unusual guaranteed cash surrender value, if any, subtracting from that figure
				  the amount of the last unusual guaranteed cash surrender value, if any,
				  scheduled at the beginning of the term of the policy, and dividing the
				  resulting figure by the present value at the beginning of the term of the
				  policy of the scheduled gross premiums payable during the term of the
				  policy.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 21 - Insurer - Financial › Article 10 - Valuation of Life Insurance Policies › 3 AAC 21.920 - Minimum valuation standard for a universal life insurance policy with a secondary guarantee

Current through May 31, 2024
(a) Basic reserves for a secondary guarantee
				  in a universal life insurance policy with a secondary guarantee must equal the
				  segmented reserves for the secondary guarantee period in the policy and, in
				  calculating the segments and the segmented reserves,
(1) the segments are determined according to
				  the contract segmentation method; and
(2) the gross premiums are set equal to the
				  specified premiums in the policy, if any, or to the minimum premiums that keep
				  the policy in force for a policy without specified premiums.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 21 - Insurer - Financial › Article 10 - Valuation of Life Insurance Policies › 3 AAC 21.925 - Segment and contract segmentation method defined

Current through May 31, 2024
(a) For purposes of
				  3 AAC 21.900 -
				  3 AAC 21.949, the contract segmentation method
(1) is the method in which the amount of time
				  from issuance of a policy to the mandatory expiration of a policy is divided
				  into successive segments, with the length of each segment determined under (b)
				  of this section;
(2) makes all
				  calculations using
(A) for policies issued
				  before January 1, 2009, the 1980 CSO valuation tables or other valuation
				  mortality tables under
				  3 AAC 28.600 -
				  3 AAC 28.690;
(B) for policies issued on or after January
				  1, 2009, valuation mortality tables under
				  3 AAC 28.600 -
				  3 AAC 28.690, as required under
				  3 AAC 28.620(c); and
(3) if elected by the insurer,
				  uses the minimum mortality standard for deficiency reserves under
				  3 AAC 21.905(e) and (f).
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 21 - Insurer - Financial › Article 10 - Valuation of Life Insurance Policies › 3 AAC 21.930 - Segmented reserves

Current through May 31, 2024
(a) Segmented reserves are equal to the
				  present value of all future guaranteed benefits minus the present value of all
				  future net premiums to the mandatory expiration date of a policy subject to the
				  following:
(1) the reserves must be
				  calculated using segments produced by the contract segmentation
				  method;
(2) net premiums within
				  each segment must be a uniform percentage of the respective guaranteed gross
				  premiums within the segment;
(3)
				  the uniform percentage for each segment at the beginning of the segment must be
				  determined so that the present value of the net premiums within the segment is
				  equal to (PVDB) + (PVUCV) - (UGCV) + (NP), where
(A) (PVDB) is the present value of death
				  benefits within the segment;
(B)(PVUCV) is the present value of any
				  unusual guaranteed cash value as set out in
				  3 AAC 21.915(b) at the end of the
				  segment;
(C)(UGCV) is any unusual
				  guaranteed cash value as set out in
				  3 AAC 21.915(b) at the beginning of the
				  segment;
(D)(NP) is, for the first
				  segment only, the greater of zero and (NLP) ( OYTP), where
(i) (NLP) is a net level annual premium equal
				  to the present value at the date of issue of the benefits provided for in the
				  first segment after the first policy year divided by the present value at the
				  date of issue of an annuity of one per year payable on the first and each
				  subsequent anniversary date of the policy within the first segment on which a
				  premium is due, where the NLP may not exceed the NLP for a 19-year premium
				  whole life plan of insurance with the same renewal year equivalent level amount
				  at an age one year higher than the age at issue of the policy; and
(ii)(OYTP) is a net one-year term premium for
				  benefits provided in the first policy year;
(4) the interest rate used in determining the
				  present value for any policy may not be greater than the maximum valuation
				  interest rate determined with a guarantee duration equal to the sum Of the
				  lengths of all segments of the policy.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 21 - Insurer - Financial › Article 10 - Valuation of Life Insurance Policies › 3 AAC 21.949 - Definitions

Current through May 31, 2024
In
					 3 AAC 21.900 -
					 3 AAC 21.949,
(1) "basic reserves" means reserves
				  calculated in accordance with
				  AS
				  21.18.110(b)(2);
(2) "deficiency reserves" means the larger of
				  the following amounts:
(A) zero;
(B) minimum reserves calculated in accordance
				  with AS
				  21.18.110(b)(4), minus basic
				  reserves;
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.010 - Fingerprinting required

Current through May 31, 2024
(a) Every applicant
				  for license by the division of insurance shall furnish his or her fingerprints
				  to the director of the division.
(b) Every applicant shall be fingerprinted by
				  a qualified, duly authorized person. The fee, if any, charged for this service
				  must be paid by the applicant.
(c)
				  Permanent license will be issued only after the application, with fees and
				  fingerprint card, has been received, the application and fees reviewed and
				  approved, and the fingerprint card forwarded to the appropriate agency for
				  processing and search. The fee, if any, charged by the agency for fingerprint
				  processing and search must be paid by the applicant.
Authority:
AS
						21.06.090
AS
						21.27.040
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.020 - Fingerprinting - Exception (Repealed)

Current through May 31, 2024
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.030 - Broker - qualifications (Repealed)

Current through May 31, 2024
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.040 - Appointment of agents (Repealed)

Current through May 31, 2024
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.050 - Producing general agents (Repealed)

Current through May 31, 2024
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.060 - Licensing by credentials (Repealed)

Current through May 31, 2024
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.070 - Examination scores valid for one year

Current through May 31, 2024
(a) An examination
				  score is valid for one year after the date of the examination for a license
				  applicant who has not completed the application process and who has not
				  obtained licensure.
(b) After one
				  year from the date of the examination, an applicant described in (a) of this
				  section must retake the required examination.
Authority:
AS
						21.06.090
AS
						21.27.060
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.080 - Reexamination required

Current through May 31, 2024
An applicant for licensure who previously held a license
					 issued by the director which was revoked for any reason must take any required
					 examination for the type of license for which the applicant has applied as the
					 director does not consider the applicant to be fully qualified and
					 competent.
Authority:
AS
						21.06.090
AS
						21.27.060
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.090 - Licensing certain nonresident adjustors (Expired)

Current through May 31, 2024
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.105 - Credit for continuing education

Current through May 31, 2024
(a) A contact class
				  course or self-study course will be accepted for continuing education credit if
				  the course
(1) meets the
				  requirements of
				  3 AAC 23.188; and
(2) is in the general subject area
				  of
(A) insurance technical or
				  product information;
(B) risk
				  management;
(C) insurance law and
				  regulation;
(D) mathematics,
				  statistics, and probability;
(E)
				  economics;
(F) business
				  law;
(G) finance;
(H) taxation directly related to insurance
				  products;
(I) business insurance
				  ethics;
(J) licensee professional
				  liability;
(K) management,
				  marketing, and sales training; or
(L) securities specific to insurance
				  products.
(b) The director will not
				  approve more than eight credit hours in the general subject area of,
				  management, marketing, and sales training during the two-year license
				  period.
Authority:
AS
						21.06.090
AS
						21.27.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.110 - Academic and nonacademic program criteria (Repealed)

Current through May 31, 2024
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.115 - Computation of academic continuing education credit hours (Repealed)

Current through May 31, 2024
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.120 - Computation of continuing education credit hours

Current through May 31, 2024
(a) The director
				  will determine the number of credit hours to be assigned to each continuing
				  education course based on
(1) presentation
				  hours for a contact class course; or
(2)
				  the word count of the course study material for a self-study
				  course.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.125 - Nonacademic continuing education programs (Repealed)

Current through May 31, 2024
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.130 - Credit for instructing an education program (Repealed)

Current through May 31, 2024
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.135 - Publication credit (Repealed)

Current through May 31, 2024
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.140 - Continuing education credit not allowed

Current through May 31, 2024
The director will not allow continuing education credit for
					 the following items:
(1) committee service in
					 a professional organization or for the division under
					 3 AAC 23.145;
(2) credit hours taken and claimed for credit
					 more than once in any two-year license period;
(3) credit hours completed before the
					 effective date of the person's current license, except as allowed in
					 AS
					 21.27.020(f)(3) or
					 3 AAC 23.100(e);
(4) credit hours taken but not listed for
					 carry-over credit on the licensee's previous license period application as
					 provided under
					 AS
					 21.27.020(f)(3);
(5) a review, quiz, or examination;
(6) a course about or that includes
					 automation, computer training, office skills, social networking, time
					 management, or similar general education topics;
(7) a course about or that includes business
					 succession planning, estate planning, financial planning, retirement planning,
					 or risk management unless the continuing education provider or licensee can
					 demonstrate to the satisfaction of the director that the course is direct and
					 specific to insurance products or ethics for insurance
					 licensees.
Authority:
AS
						21.06.090
AS
						21.27.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.145 - Continuing education advisory committee

Current through May 31, 2024
(a) In accordance
				  with AS
				  21.27.020(g), the director
				  will appoint a four-member continuing education advisory committee to provide
				  recommendations on continuing education compliance and advise the director on
				  continuing education matters.
(b)
				  Members of the continuing education advisory committee shall serve staggered
				  three-year terms at the pleasure of the director. The director will, in the
				  director's discretion,
(1) reappoint a
				  committee member to additional three-year terms;
(2) remove or replace a committee member as
				  appropriate; or
(3) appoint
				  alternates to substitute for committee members on an as-needed basis, so long
				  as the representation requirements of
				  AS
				  21.27.020(g) are
				  met.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.150 - Affidavit of compliance

Current through May 31, 2024
(a) At the time a
				  licensee applies for license renewal, a licensee shall submit a notarized
				  affidavit stating that the license has complied with the continuing education
				  requirements of
				  3 AAC 23.100 -
				  3 AAC 23.208, on a form supplied by the
				  director.
(b) If an affidavit of
				  compliance is not received by the director by the license renewal date, the
				  license lapses.
(c) The licensee is
				  responsible for maintaining adequate and detailed records of all continuing
				  education credit hours claimed on the affidavit and shall make the records
				  available to the director upon request. The licensee shall retain these records
				  for two years from the license renewal date for which the continuing education
				  credits are submitted and for four years if the credits are to be applied to
				  the next license renewal period.
Authority:
AS
						21.06.090
AS
						21.27.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.157 - Exemption from 3 AAC 23150 and 3 AAC 23155

Current through May 31, 2024
The provisions of
					 3 AAC 23.150 and
					 3 AAC 23.155 do not apply to a licensee once the
					 licensee's current continuing education records become available on the
					 licensee's online transcript on file with the director.
Authority:
AS
						21.06.090
AS
						21.06.180
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.160 - Noncompliance

Current through May 31, 2024
If a licensee fails to comply with
					 3 AAC 23.100 -
					 3 AAC 23.208, the license lapses or
					 expires.
Authority:
AS
						21.06.090
AS 21.27.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.164 - Continuing education provider qualifications

Current through May 31, 2024
(a) In order to
				  offer, sponsor, or advertise a continuing education course to a licensee in
				  this state, a person must
(1) submit an
				  application on a form prescribed by the director;
(2) pay an application fee under
				  3 AAC 31.060;
(3) be approved and assigned an identifying
				  number as a continuing education provider by the director; and
(4) agree to participate in the division's
				  online continuing education system provided by the National Association of
				  Insurance Commissioners, known as
State Based
				  Systems
.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.170 - Definitions (Repealed)

Current through May 31, 2024
Material formerly located in
						3 AAC 23.170 is now located in
						3 AAC 23.208.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.172 - Continuing education provider renewal

Current through May 31, 2024
(a) During the
				  60-day period the last day of which is the expiration date of a person's
				  approval as a continuing education provider, a person seeking to renew the
				  approval for a four-year period must submit to the director an application for
				  renewal on a form prescribed by the director and pay a renewal application fee
				  under 3 AAC 31.060.
(b) The director's approval of a continuing
				  education provider expires on December 31 of the fourth year after the date of
				  the last approval.
(c) If the
				  director does not receive the continuing education provider's renewal
				  application and fee payment during the period set out in (a) of this section,
				  the director's approval of the continuing education provider becomes inactive.
				  A continuing education provider may not advertise, sponsor, or provide a
				  continuing education course to a licensee unless the continuing education
				  provider is approved by the director as a continuing education provider under
				  3 AAC 23.164.
(d) An inactive continuing education provider
				  may apply for reinstatement not later than 60 days after the expiration date of
				  the director's approval by completing the requirements under (a) of this
				  section and remitting a late reinstatement fee under
				  3 AAC 31.060.
Authority:
AS
						21.06.090
AS
						21.27.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.176 - Suspension or revocation of a continuing education provider

Current through May 31, 2024
The director may suspend or revoke the director's approval
					 of a continuing education provider if the director determines the continuing
					 education provider has violated the requirements of
					 3 AAC 23.100 -
					 3 AAC 23.208, Under this section, the director will not
					 set a period of suspension that exceeds 12 months. In a suspension or
					 revocation under this section, the director will set out the length of time
					 during which the continuing education provider may not reapply for approval
					 under 3 AAC 23.164.
Authority:
AS
						21.06.090
AS
						21.27.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.180 - Referrals to a continuing education provider

Current through May 31, 2024
A person that is subject to AS 21 may not accept a rebate,
					 refund, fee, commission, or discount for the referral of a licensee to a
					 continuing education provider without making full disclosure of the acceptance
					 of the rebate, refund, fee, commission, or discount to the licensee and the
					 director.
Authority:
AS
						21.06.090
AS
						21.27.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.184 - Continuing education instructor qualifications

Current through May 31, 2024
(a) A continuing
				  education provider shall ensure that each of the continuing education
				  provider's contact class courses is taught or presented by a continuing
				  education instructor who is trustworthy and meets at least one of the following
				  qualifications:
(1) has three years'
				  experience teaching or presenting the course or related subject matter within
				  the five years before teaching or presenting the course;
(2) is currently licensed for the subject
				  matter being taught or presented and has been licensed in good standing under
				  AS 21.27 for three of the last five years;
(3) possesses a college degree in the subject
				  matter being taught or presented;
(4) possesses a recognized professional
				  designation in the subject matter being taught or presented.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.188 - Continuing education course requirements

Current through May 31, 2024
(a) A continuing
				  education provider seeking approval of a continuing education course must
				  submit to the director, at least 30 days before the first date the course is to
				  be offered for credit, an application for course approval on a form prescribed
				  by the director and pay an application fee under
				  3 AAC 31.060. A course may not be advertised before the
				  course has been approved by the director.
(b) An application for course approval for a
				  contact class course must include
(1) a course
				  content outline or summary of the course, including a list of topics to be
				  covered and an estimate of the time to be spent on each topic;
(2) the name and contact information of each
				  instructor;
(3) the grading,
				  evaluation, and course completion criteria; and
(4) the course instruction method.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters › Article 1 - Licensing Requirements › 3 AAC 23.192 - Continuing education course advertising requirements

Current through May 31, 2024
A continuing education course may not be advertised,
					 sponsored, or offered in this state unless the director has approved the course
					 and the advertisement includes
(1) the
				  continuing education provider's name as approved by the director;
(2) the course title as approved by the
				  director;
(3) a brief description
				  of the content of the course;
(4)
				  the number of credit hours approved by the director; and
(5) for a contact class course,
(A) the time and date the course will be
				  offered; and
(B) the location where
				  the course will be offered.