Section 21.75.055. Surplus funds for cooperative insurers.

Latest version.

A cooperative insurer organized under AS 21.75.300 - 21.75.330, if it has otherwise complied with the applicable provisions of this chapter, may be authorized to transact insurance if it has and maintains surplus funds equal to one-half of the capital required for a domestic reciprocal insurer under AS 21.75.050(a) and such additional surplus as the director considers sufficient.

Notes

History

(Sec. 5 ch 150 SLA 1978)

                    
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