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- Alaska Statutes.
- Title 21. Insurance
- Chapter 79. Alaska Life and Health Insurance Guaranty Association Act
- Section 90. Powers and Duties of the Director.
previous: Section 80
. Plan of Operation.
next: Section 100
. Prevention of Insolvencies.
AS 21.79.090. Powers and Duties of the Director.
- (a) Upon request of the board, the director shall provide the association with a statement of the premiums in the
appropriate states for each member insurer.
- (b) The director may
- (1) after notice and hearing as provided in AS 21.06.180
- 21.06.230, suspend or revoke the certificate of
authority to transact insurance in this state of a member insurer that fails to pay an assessment when due or fails to
comply with the plan of operation;
- (2) levy a penalty on a member insurer that fails to comply with the plan of operation; or
- (3) levy a penalty on a member insurer that fails to pay an assessment when due; if the unpaid assessment is more than
$2,000, the penalty may not exceed five percent of the unpaid assessment per month or be less than $100 per month; if
the unpaid assessment is $2,000 or less, the penalty is $100 per month.
- (c) An action of the board or the association may be appealed to the director by a member insurer if the appeal is taken
within 30 days after the date the notice of the action is mailed. Final action or order of the director may be reviewed
by the superior court.
- (d) The liquidator, rehabilitator, or conservator of an impaired insurer may notify all interested persons of the effect
of this chapter.
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