Made available by Touch N' Go Systems, Inc., and the
Law Offices of James B. Gottstein.

You can also go to The Alaska Legal Resource Center or search the entire website search.

Touch N' Go, the DeskTop In-and-Out Board makes your office run smoother. Visit Touch N' Go's Website to see how.
Title 3 . Commerce, Community, and Economic Development
Chapter 21 . Miscellaneous
Section 620. Written agreements

3 AAC 21.620. Written agreements

(a) A reinsurance agreement or an amendment to a reinsurance agreement may not be used to reduce a liability or to establish an asset in a statutory financial statement filed with the division unless the agreement, the amendment, or a binding letter of intent has been executed by both parties, or other binding written evidence of the agreement from the reinsurer is held by the ceding insurer, not later than the "as of date" of the statutory financial statement on which the entry will appear.

(b) A reinsurance agreement or an amendment to a reinsurance agreement must be executed within 90 days after the execution of a binding letter of intent or other written evidence of a binding reinsurance agreement in order for credit to be allowed for the reinsurance ceded.

History: Eff. 10/21/92, Register 124; am 11/25/94, Register 132

Authority: AS 21.06.090

AS 21.12.020

Note to HTML Version:

The Alaska Administrative Code was automatically converted to HTML from a plain text format. Every effort has been made to ensure its accuracy, but neither Touch N' Go Systems nor the Law Offices of James B. Gottstein can be held responsible for any possible errors. This version of the Alaska Administrative Code is current through June, 2006.

If it is critical that the precise terms of the Alaska Administrative Code be known, it is recommended that more formal sources be consulted. Recent editions of the Alaska Administrative Journal may be obtained from the Alaska Lieutenant Governor's Office on the world wide web. If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful. Copyright 2006. Touch N' Go Systems, Inc. All Rights Reserved.

Last modified 7/05/2006