Section 21.59.040. Certificate of authority.

   (a) Application for a certificate of authority to transact business as an automobile service corporation shall be made to the director, on forms furnished by the director and requiring the information about the applicant, its directors, officers, and affairs as the director may reasonably require consistent with AS 21.59.010 - 21.59.090.
   (b) The applicant shall file the following documents with the application:
        (1) a copy of the applicant's articles of incorporation and all amendments, certified by the appropriate official of the state of incorporation;
        (2) a copy of the applicant's bylaws, certified by its corporate secretary;
        (3) a copy of each subscriber's contract proposed to be offered;
        (4) either
             (A) audited financial statements for the three fiscal years immediately preceding the application; or
             (B) a financial statement of the applicant prepared by a certified public accountant and dated not more than 30 days before the filing of the application, showing the amount of working funds available to the applicant, a reconciliation of the net worth or capital account, the source and application of the funds, and any data pertinent to the financial statement;
        (5) the bond required under AS 21.59.030(2) or 21.59.050(c); and
        (6) a copy of any other relevant document reasonably requested by the director.

Notes

Implemented As

3 AAC 21.485

History

(Sec. 1 ch 135 SLA 1984)