Section 21.27.790. Surplus lines broker qualifications.

In addition to the general qualifications under AS 21.27.020, to qualify for issuance or for renewal of a resident surplus lines broker license, an applicant or licensee shall
        (1) be licensed as either an insurance producer or managing general agent for property and casualty lines of authority;
        (2) if required by the director by regulation, maintain a bond as described in AS 21.27.190 in an amount acceptable to the director that requires the surplus lines broker to conduct business under this title, promptly remit the taxes and fees required by law, return premiums promptly when due, and pay proper losses promptly;
        (3) if the director requires, maintain an errors and omissions insurance policy acceptable to the director.

Authorities

21.27.270;21.34.200

Notes

Implemented As

3 AAC 31.040

References

AS 21.27.270 Licensing of nonresidents.
AS 21.34.200 Collection of taxes and fees.

History

(Sec. 94 ch 67 SLA 1992; am Sec. 61 ch 81 SLA 2001; am Sec. 27 ch 96 SLA 2004; am Sec. 44 ch 23 SLA 2011)