Section 21.24.030. Securities eligible for deposit.

Latest version.

   (a) All deposits required under AS 21.09.090 for authority to transact insurance in this state shall consist of certificates of deposit or any combination of rated credit instruments of the United States, Canada, or a state of the United States.
   (b) Deposits of a domestic insurer held in this state under the laws of another state, province, or country shall be comprised of assets of the kinds described in (a) of this section, and of the additional kind or kinds of securities required or permitted by the laws of the state, province, or country except common stocks, mortgages of any kind, and real estate.
   (c) Deposits of foreign insurers made in this state under AS 21.09.270 shall consist of the assets required by the director under the law.

Authorities

21.09.090

Notes

References

AS 21.09.090 Deposit requirement.

History

(Sec. 1 ch 120 SLA 1966; am Sec. 9 ch 81 SLA 2001)

                    
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