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- Alaska Statutes.
- Title 21. Insurance
- Chapter 24. Administration of Deposits
- Section 20. Purpose of Deposit.
previous: Section 10
. Authorized Deposits of Insurers.
next: Section 30
. Securities Eligible For Deposit.
AS 21.24.020. Purpose of Deposit.
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.
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