Alaska Administrative Code
Title 3 - Commerce, Community, and Economic Development
Part 2 - Division of Insurance
Chapter 23 - Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters
Article 4 - Fiduciary Responsibilities of Licensees
3 AAC 23.650 - Premium financing money flow
Current through February 24, 2025
(a) The advance of a premium by a licensee in the name of the insured who is purchasing a contract of insurance, if the insured has not yet paid the premium,
(b) The documents used to execute the advance of a premium by a licensee are records of a particular transaction, that must be maintained for the period specified in AS 21.27.350(c).
(c) Repealed 3/30/2003.
(d) Failure to comply with (a)(1) of this section is a violation of AS 21.27.350 and 21.27.360.
(e) Failure to comply with (a)(2) of this section is a violation of AS 21.27.360.
(f) Failure to comply with (b) of this section is a violation of AS 21.27.350.
(g) Repealed 3/30/2003.
In 2010 the revisor of statutes, acting under AS 01.05.031, renumbered former AS 21.36.122 as AS 21.36.490. As of Register 196 (January 2011), the regulations attorney made a conforming technical revision under AS 44.62.125(b)(6), to the authority citation that follows 3 AAC 23.650, so that the citation to former AS 21.36.122 now refers to the renumbered statute, AS 21.36.490.
Authority:AS 21.06.090
AS 21.27.350
AS 21.27.360
AS 21.36.100
AS 21.36.490
