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- Alaska Statutes.
- Title 21. Insurance
- Chapter 59. Automobile Service Corporations
- Section 40. Certificate of Authority.
previous: Section 30
. Qualifications For Certificate of Authority.
next: Section 50
AS 21.59.040. Certificate of Authority.
- (a) Application for a certificate of authority to transact business as an automobile service corporation shall be made to
the director, on forms furnished by the director and requiring the information about the applicant, its directors,
officers, and affairs as the director may reasonably require consistent with this chapter.
- (b) The applicant shall file the following documents with the application:
- (1) a copy of the applicant's articles of incorporation and all amendments, certified by the appropriate official of the
state of incorporation;
- (2) a copy of the applicant's bylaws, certified by its corporate secretary;
- (3) a copy of each subscriber's contract proposed to be offered;
- (4) either
- (A) audited financial statements for the three fiscal years immediately preceding the application; or
- (B) a financial statement of the applicant prepared by a certified public accountant and dated not more than 30 days
before the filing of the application, showing the amount of working funds available to the applicant, a reconciliation
of the net worth or capital account, the source and application of the funds, and any data pertinent to the financial
- (5) the bond required under AS 21.59.030
(2) or 21.59.050(c); and
- (6) a copy of any other relevant document reasonably requested by the director.
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