Section 21.09.100. Management and affiliations.

The director may not grant or continue authority to transact insurance in this state to an insurer whose principal management personnel is found by the director for good cause shown to be untrustworthy or not of good character, or so lacking in insurance company managerial experience as to make the proposed operation hazardous to the insurance-buying public or to its stockholders; or that the director has good reason to believe is affiliated directly or indirectly through ownership, control, management, reinsurance transactions, or other insurance or business relations with a person or persons whose business operations, to the detriment of insurers, stockholders, or creditors, are or have been marked by manipulation of assets, of accounts, or of reinsurance, or by bad faith.

Authorities

21.59.070;21.69.040;21.84.335;21.85.100

Notes

References

AS 21.59.070 Other provisions applicable.
AS 21.69.040 Articles of incorporation.
AS 21.84.335 Applicability of other code provisions.
AS 21.85.100 Applicability of other provisions.

History

(Sec. 1 ch 120 SLA 1966)