Alaska Statutes.
Title 21. Insurance
Chapter 9. Authorization, Corporate Governance Requirements
Section 320. Maintenance of Records; Production; Civil Penalty.
previous: Section 310. Authorization of United States Branches of Alien Insurers and General Requirements.
next: Section 400. Corporate Governance Annual Disclosure Scope.

AS 21.09.320. Maintenance of Records; Production; Civil Penalty.

   (a) A foreign insurer shall keep at its principal place of business a complete record of its assets, transactions, and affairs in accordance with the methods and systems that are customary or suitable to the kind of business transacted.
   (b) To meet the requirements of (a) of this section, the insurer shall keep the records as required by the record maintenance requirements of the insurer's domicile jurisdiction.
   (c) The director may make a request in writing to review records under (a) of this section. An insurer shall, not later than 10 business days after the date of the request, provide the requested records to the director or make the records available for inspection and copying. All records inspected or examined under this subsection are confidential, but may be used by the director in a proceeding against the insurer.
   (d) Failure by an insurer to provide information required in this section may result in a civil penalty of up to $1,000 for each violation and an additional civil penalty of up to $50 for each day the information requested is longernot provided.

Article 2. CORPORATE GOVERNANCE ANNUAL DISCLOSURE

All content © 2024 by Touch N' Go/Bright Solutions, Inc.

Note to HTML Version:

This version of the Alaska Statutes is current through December, 2022. The Alaska Statutes were automatically converted to HTML from a plain text format. Every effort has been made to ensure their accuracy, but this can not be guaranteed. If it is critical that the precise terms of the Alaska Statutes be known, it is recommended that more formal sources be consulted. For statutes adopted after the effective date of these statutes, see, Alaska State Legislature If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful.