Section 21.69.260. Failure to qualify.

Latest version.

If the proposed domestic insurer fails to complete its organization and to secure its original certificate of authority within one year from and after the date of its certificate of incorporation, its corporate powers shall cease, and the director shall return or cause to be returned to the persons entitled thereto all advance deposits or payments of premiums held in trust under AS 21.69.250.

Notes

History

(Sec. 1 ch 120 SLA 1966)

                    
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