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- Alaska Statutes.
- Title 21. Insurance
- Chapter 75. Reciprocal and Cooperative Insurers
- Section 900. Definition.
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. Definitions. [Repealed, Sec. 62 Ch 21 SLA 1991].
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. Joint Insurance Arrangements
AS 21.75.900. Definition.
In this chapter,
- (1) "material transaction" means a transaction, other than a claim payment, involving more than one-half of one percent of
the reciprocal insurer's admitted assets as of December 31 of the prior year;
- (2) "reciprocal insurance" is that resulting from an interexchange among persons, known as "subscribers," of reciprocal
agreements of indemnity, the interexchange being effectuated through an "attorney-in-fact" common to all such persons;
- (3) "reciprocal insurer" means an unincorporated aggregation of subscribers operating individually and collectively
through an attorney-in-fact to provide reciprocal insurance among themselves.
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