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Title 3 . Commerce, Community, and Economic Development
Chapter 21 . Miscellaneous
Section 120. Exemptions

3 AAC 21.120. Exemptions

(a) A foreign or alien insurer otherwise subject to AS 21.22.060 is not required to register under AS 21.22.060 if it is admitted in the domiciliary state of the principal insurer and in that state is subject to disclosure requirements and standards adopted by statute or regulation which are substantially similar to those contained in AS 21.22.060 ; however, the director will, in his discretion, require a copy of the registration statement or other information filed with the domiciliary state.

(b) The state of entry of an alien insurer is considered to be its domiciliary state for the purposes of 3 AAC 21.090 - 3 AAC 21.130.

(c) Any insurer not otherwise exempt from 3 AAC 21.090 - 3 AAC 21.130 may apply for an exemption from the requirements of AS 21.22.060 by submitting a statement to the director setting out its reasons for being exempt.

History: Eff. 6/30/77, Register 62

Authority: AS 21.06.090

AS 21.22.130

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Last modified 7/05/2006