Section 45.55.905. Administration of chapter.

   (a) The Department of Commerce, Community, and Economic Development shall administer this chapter.
   (b) The administrator or an officer or employee of the administrator may not use for personal benefit information that is filed with or obtained by the administrator and that is not made public.  No provision of this chapter authorizes the administrator or an officer or employee of the administrator to disclose the information except among themselves or when necessary or appropriate in a proceeding or investigation under this chapter. No provision of this chapter either creates or derogates from any privilege that exists at common law or otherwise when documentary or other evidence is sought under a subpoena directed to the administrator or an officer or employee of the administrator.
   (c) The administrator shall regulate transactions between a viatical settlement provider or person acting as an agent of a viatical settlement provider and a subsequent investor, while the authority of the director of the division of insurance extends to the regulation of viatical settlement contracts under AS 21.96.110.

Authorities

21.96.110;45.55.180;45.55.910

Notes

Recent Bills that will modify this

HB 194 AK SECURITIES ACT; PENALTIES; CRT. RULES
SB 108 AK SECURITIES ACT; PENALTIES; CRT. RULES

Implemented As

3 AAC 08.360

References

AS 21.96.110 Viatical settlement transactions.
AS 45.55.180
AS 45.55.910 Investigations and subpoenas; confidentiality.

History

(Sec. 306 ch 198 SLA 1959; am Sec. 4 ch 11 SLA 2000)