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- Alaska Statutes.
- Title 21. Insurance
- Chapter 24. Administration of Deposits
- Section 120. Deficiency of Deposit.
previous: Section 110
. Levy Upon Deposit. [Repealed, Sec. 14 Ch 62 SLA 1982. For Current Law See AS 09.38.025
next: Section 130
. Duration and Release of Deposit.
AS 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.
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