Section 21.84.495. Foreign or alien society; admission.

A foreign or alien society may not transact business in this state without a license issued by the director. A foreign or alien society desiring admission to this state shall comply with the requirements and limitations of this chapter applicable to domestic societies. The society may be licensed to transact business in this state upon filing with the director
        (1) a certified copy of its articles of incorporation;
        (2) a copy of its bylaws, certified by its secretary or corresponding officer;
        (3) a power of attorney to the director as prescribed in AS 21.84.625;
        (4) a statement of its business under oath of its president and secretary or corresponding officers in a form prescribed by the director, verified by an examination made by the supervising insurance official of its home state or other state, territory, province, or country, satisfactory to the director;
        (5) certification from the proper official of its home state, territory, province, or country that the society is legally incorporated and licensed to transact business therein;
        (6) copies of its certificate forms;
        (7) information showing that its assets are invested in accordance with the provisions of this chapter; and
        (8) other information the director may consider necessary.

Notes

History

(Sec. 29 ch 96 SLA 1997)