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- Alaska Statutes.
- Title 21. Insurance
- Chapter 34. Surplus Lines Insurance
- Section 50. Listing Eligible Surplus Lines Insurers.
previous: Section 40
. Eligible Surplus Lines Insurers Required.
next: Section 60
. Other Nonadmitted Insurers.
AS 21.34.050. Listing Eligible Surplus Lines Insurers.
- (a) In addition to meeting the requirements of AS 21.34.040, a nonadmitted insurer shall be considered an eligible surplus
lines insurer if it pays fees required by regulation and appears on the most recent list of eligible surplus lines insurers
published by the director. The list is to be published at least semiannually by
- (1) posting the list on the division's Internet website; and
- (2) providing a copy of the list to a person on request to the division.
- (b) Nothing in this section requires the director to
place or maintain the name of a nonadmitted insurer on the list of eligible surplus lines insurers.
- (c) A nonadmitted insurer shall be removed from the list of eligible surplus lines insurers if the nonadmitted
insurer fails to pay, before July 1 of each year, the fee authorized under this section or fails to meet the requirement under AS 21.34.040 (d). However, the director may reinstate a nonadmitted insurer
on the list of eligible surplus lines insurers if
- (1) the nonadmitted insurer inadvertently failed to pay the fee or meet the requirement under AS 21.34.040 (d);
- (2) the nonadmitted insurer has remedied the reason for removal from the list; and
- (3) the nonadmitted insurer pays a late fee as established by regulation.
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