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Alaska Statutes (Last Updated: January 11, 2017) |
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Title 21. INSURANCE. |
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Chapter 21.18. ASSETS AND LIABILITIES. |
Section 21.18.900. Definitions.
Latest version.
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In this chapter,
(1) "admitted asset" means an asset allowed by AS 21.18.010 to be included in the determination of the financial condition of a domestic or foreign insurer or the United States branch of an alien insurer;
(2) "affiliate" has the meaning given in AS 21.22.200;
(3) "controlling" or "controlled" has the meaning given in AS 21.22.200 and includes a person that individually, or in combination with other persons, owes to the insurer an amount that exceeds 50 percent of the insurer's total premiums in the course of collection as stated on the insurer's financial statement;
(4) "ledger asset" means an asset recorded on the general ledger of an insurer;
(5) "nonadmitted assets" means an asset recorded on the insurer's ledger that is not allowed by AS 21.18.010 to be included in the determination of the financial condition of a domestic or foreign insurer or the United States branch of an alien insurer;
(6) "nonledger asset" means an asset not recorded on the general ledger of an insurer;
(7) "solvent" means able to satisfy all current and future obligations and operate as an ongoing entity.