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- Alaska Statutes.
- Title 21. Insurance
- Chapter 69. Organization and Corporate Procedures
- Section 430. Contingent Liability of Mutual Members.
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. Solicitations in Other States.
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. Levy of Contingent Liability.
AS 21.69.430. Contingent Liability of Mutual Members.
- (a) Each member of a domestic mutual insurer shall, except as provided with respect to nonassessable policies, have a
contingent liability, pro rata and not one for another, for the discharge of its obligations, which contingent
liability shall be expressed in the policy and be in the maximum amount that is specified in the insurer's articles of
- (b) Termination of the policy of the member does not relieve the member of contingent liability for the member's
proportion, if any, of the obligations of the insurer that accrued while the policy was in force.
- (c) Unrealized contingent liability of members does not constitute an asset of the insurer in a determination of its
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