Section 21.27.100. Appointment of insurance producer, managing general agent, and reinsurance intermediary manager; acts of agent.

   (a) An appointment is required to be made in accordance with this section when one or more of the following has occurred:
        (1) an admitted insurer appoints a managing general agent in this state or relative to a subject resident, located, or to be performed in this state;
        (2) a managing general agent appoints an insurance producer as its subagent in this state or relative to subjects resident, located, or to be performed in this state;
        (3) a domestic reinsurer appoints a reinsurance intermediary manager;
        (4) a reinsurance intermediary manager appoints an insurance producer as its subagent in this state.
   (b) An admitted insurer shall appoint an insurance producer as its agent in this state or relative to a subject resident, located, or to be performed in this state not later than 30 days after the date that a written agency contract is executed or the first insurance application is submitted to the admitted insurer by the licensed insurance producer.
   (c) An individual who has entered into an employment contract with a licensed firm that is appointed as an agent or a managing general agent on behalf of an admitted insurer under this section may not be required to also have an appointment under this section if the individual has entered into an employment contract with that firm for a specific class of authority.
   (d) The authorized or apparently authorized acts on behalf of an appointing insurer of an insurance producer appointed under this section are considered the acts of that insurer.
   (e) An insurer and managing general agent shall maintain a current list of all appointments made or required to be made under this section that identifies the licensee's name, licensee's mailing address, license number, and effective date of appointment.
   (f) An insurance producer shall maintain a list of all appointments made or required to be made under this section that identifies the insurer's name, insurer's mailing address, and effective date of appointment.
   (g) An insurer, managing general agent, or insurance producer shall reply in writing within three working days to an inquiry of the director regarding an appointment.

Authorities

21.27.110;21.27.150;21.27.550;21.27.650;21.27.850;21.69.645

Notes

References

AS 21.27.110 Term of appointment.
AS 21.27.150 Limited licenses.
AS 21.27.550 Appointment of insurance producer as an agent.
AS 21.27.650 Operating requirements for third-party administrators.
AS 21.27.850 Insurance producer, managing general agent, surplus lines broker, reinsurance intermediary broker, and reinsurance intermediary manager as independent adjuster.
AS 21.69.645 Redomestication.

History

(Sec. 1 ch 120 SLA 1966; am Sec. 10, 11 ch 51 SLA 1990; am Sec. 64 ch 67 SLA 1992; am Sec. 40 ch 62 SLA 1995; am Sec. 22 ch 81 SLA 2001; am Sec. 8 ch 1 FSSLA 2005; am Sec. 39 ch 23 SLA 2011)