Alaska Statutes.
Title 21. Insurance
Chapter 66. Title Insurance Companies
Section 60. Dividends.
previous: Section 30. - 21.66.050l Securities Authorized as Deposits; Special Guaranty Fund; Title Insurance Unearned Premium Reserve Fund. [Repealed, Sec. 223 Ch 67 SLA 1992].
next: Section 70. Filing Schedule of Rates and Policy Forms. [Repealed, Sec. 8 Ch 120 SLA 1974].

AS 21.66.060. Dividends.

A title insurance company may not pay dividends except from net profits remaining on hand after retaining unimpaired

(1) the subscribed capital stock;

(2) the amount required to be set aside as unearned premium reserve fund under AS 21.18.073 ;

(3) a sum sufficient to pay current liabilities for operating expenses and taxes, and losses established or in process of settlement, without impairment of the unearned premium reserve fund required under AS 21.18.073 .

All content © 2008 by Touch N' Go/Bright Solutions, Inc.

Note to HTML Version:

This version of the Alaska Statutes is current through December, 2007. The Alaska Statutes were automatically converted to HTML from a plain text format. Every effort has been made to ensure their accuracy, but this can not be guaranteed. If it is critical that the precise terms of the Alaska Statutes be known, it is recommended that more formal sources be consulted. For statutes adopted after the effective date of these statutes, see, Alaska State Legislature If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful.