Section 21.14.100. Penalty for violation.

Latest version.

   (a) An insurer shall pay to the division $100 for each day the insurer fails to file a report, and $1,000 for each day the insurer fails to file a plan or revised plan in conformance with the requirements of this chapter.
   (b) If a report, plan, or revised plan has not been filed in conformance with the requirements of this chapter, the director may, as provided
        (1) under AS 21.09.150, AS 21.84.535, AS 21.86.190, or AS 21.87.110, as applicable to a particular insurer, suspend the authority of an insurer to enter into new obligations or issue a new or renewal policy of insurance in this state; or
        (2) under AS 21.34.070, declare a surplus lines insurer ineligible to transact business in this state.

Notes

Recent Bills that will modify this

HB 164 INSURANCE; RISK MG'T; HOLDING COMPANIES
SB 107 INSURANCE; RISK MG'T; HOLDING COMPANIES

History

(Sec. 1 ch 76 SLA 1994; am Sec. 10 ch 34 SLA 2015)

                    
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