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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 3.31. Miscellaneous. |
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Article 3.31.3. Viatical Settlements. |
Section 3.31.620. Provider bond requirements.
Latest version.
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(a) A registration will not be issued by the director unless the provider posts with the director a bond in the amount of $100,000, issued by a corporate surety authorized under AS 21 to act as surety and conditioned upon the provider's faithful fulfillment of its membership agreements. The director will surrender the bond after the provider has been registered in this state for two years. (b) The bond requirements under (a) of this section apply only to a provider who does not provide evidence satisfactory to the director at the time the provider files its initial registration that the provider has been in operation in this state for at least two years.
Authorities
21.06.090;21.61.105;21.61.109