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- Alaska Statutes.
- Title 21. Insurance
- Chapter 75. Reciprocal and Cooperative Insurers
- Section 150. Determination of Financial Condition.
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. Contributions to Insurer.
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. Who May Be Subscribers.
AS 21.75.150. Determination of Financial Condition.
In determining the financial condition of a reciprocal insurer the director shall apply the following rules:
- (1) the same reserves as are required of incorporated insurers issuing nonassessable policies on a reserve basis shall be
charged as liabilities;
- (2) the surplus deposits of subscribers shall be allowed as assets, except the premium deposits delinquent for 90 days
shall first be charged against the surplus deposit;
- (3) the surplus deposits of subscribers may not be charged as a liability;
- (4) all premium deposits delinquent less than 90 days shall be allowed as assets;
- (5) an assessment levied upon subscribers, and not collected, may not be allowed as an asset;
- (6) the contingent liability of subscribers may not be allowed as an asset;
- (7) the computation of reserves shall be based upon premium deposits other than membership fees and without deductions for
expenses and the compensation of the attorney-in-fact.
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