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- Alaska Statutes.
- Title 21. Insurance
- Chapter 69. Organization and Corporate Procedures
- Section 60. Solicitation Permit.
previous: Section 50
. Amendment of Articles of Incorporation.
next: Section 70
. Application For Solicitation Permit.
AS 21.69.060. Solicitation Permit.
- (a) A person forming or proposing to form in this state an insurer, or insurance holding corporation, or stock corporation
to finance an insurer or insurance production therefor, or corporation to manage an insurer, or corporation to be
attorney in fact for a reciprocal insurer, or a syndicate for any of these purposes, may not advertise, or solicit or
receive any funds, agreement, stock subscription, or membership on account thereof unless the person has applied for
and has received from the director a solicitation permit.
- (b) A person determined by the director, following an appropriate hearing as provided in AS 21.06.170
- 21.06.230, to have violated this section is subject
to a civil penalty of not more than $25,000.
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