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- Alaska Statutes.
- Title 21. Insurance
- Chapter 22. Insurance Holding Companies
- Section 180. Receivership.
previous: Section 170
. Civil Penalties For Violations.
next: Section 190
. Revocation, Suspension, or Nonrenewal of Insurer's Authority.
AS 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
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