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- Alaska Statutes.
- Title 21. Insurance
- Chapter 79. Alaska Life and Health Insurance Guaranty Association Act
- Section 170. Determination of Principal Place of Business.
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AS 21.79.170. Determination of Principal Place of Business.
The principal place of business of a plan sponsor consisting of
- (1) a single employer or an employee organization is that state in which the plan sponsor exercises the direction,
control, and coordination of the operations of the entity, as determined by the association in its reasonable judgment
by considering the following factors: (A) the state in which the primary executive and administrative headquarters of
the entity are located; (B) the state in which the principal office of the chief executive officer of the entity is
located; (C) the state in which the board of directors or a similar governing body of the entity conducts the majority
of its meetings; (D) the state in which the executive or management committee of the board of directors or a similar
governing body of the entity conducts the majority of its meetings; (E) the state from which the management of the
overall operations of the entity is directed; and (F) in the case of a benefit plan sponsored by affiliated companies
making up a consolidated corporation, the state in which the holding company or controlling affiliate has its principal
place of business as determined using the factors described in (A) - (E) of this paragraph; however, if more than 50
percent of the participants in the benefit plan are employed in a single state, that state is considered to be the
principal place of business of a plan sponsor that is a single employer or an employee organization;
- (2) two or more employers or employee organizations is that state in which the employers or employee organizations have
the largest investment in the benefit plan.
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