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(a) The board will, in its discretion, revoke a certificate of self-insurance because of
(1) failure to comply with the Act or regulations adopted under the Act;
(2) failure to comply with any order of the board;
(3) deterioration of financial condition adversely affecting the self-insurer's ability to pay its obligations under the Act; or
(4) a change in business identity or structure which alters the status of the self-insurer as it existed when the certificate was issued.
(b) If replacement coverage has not been obtained, the board will deny a renewal application or revoke a certificate of self-insurance if
(1) an excess insurance policy is cancelled or expires; or
(2) a security deposit's current market value drops below the value required by the board.
History: Eff. 11/20/83, Register 88
Authority: AS 23.30.005
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Last modified 7/05/2006