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Alaska Administrative Code (Last Updated: January 12, 2017) |
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Title 3. Commerce, Community, and Economic Development. |
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Part 3.1. Banking, Securities, Small Loans and Corporations. |
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Chapter 3.24. Risk Retention Groups and Purchasing Groups. |
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Article 3.24.1. Risk Retention Groups. |
Section 3.24.015. Compliance.
Latest version.
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A person transacting the business of insurance as or on behalf of a risk retention group formed under and in compliance with 15 U.S.C. 3901 - 3906, as amended as of October 27, 1986 (Liability Risk Retention Act), shall, at all times, transact business in compliance with federal and state insurance law. Failure to comply with federal or state insurance law is an unfair and deceptive act under AS 21.36.900.
Authorities
21.03.010;21.06.090;21.36.900;01.05.031;21.36.150;44.62.125
Notes
Authority
AS 21.03.010 AS 21.06.090 AS 21.36.900 Editor's note: In 2010 the revisor of statutes, acting under AS 01.05.031, renumbered former AS 21.36.150 as AS 21.36.900. As of Register 196 (January 2011), the regulations attorney made a conforming technical revision under AS 44.62.125(b)(6), to 3 AAC 24.015, so that the cross-reference to former AS 21.36.150 now refers to the renumbered statute, AS 21.36.900. In addition, the regulations attorney made a conforming technical revision to the authority citation that follows 3 AAC 24.015, so that the citation to former AS 21.36.150 now refers to AS 21.36.900.History
Eff. 10/24/92, Register 124
References
3.24.015