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Alaska Statutes.

Title 21. Insurance

Chapter 75. Reciprocal and Cooperative Insurers

Section 110. Action On Bond.

AS 21.75.110. Action On Bond.

Action on the attorney-in-fact's bond or to recover against a deposit made in lieu of the bond may be brought at any time by one or more subscribers suffering loss through a violation of its conditions, or by a receiver or liquidator of the insurer. Amounts recovered on the bond shall be deposited in and become part of the insurer's funds. The total aggregate liability of the surety shall be limited to the amount of the penalty of the bond.

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Last modified 9/3/2005