Alaska Administrative Code
Title 3 - Commerce, Community, and Economic Development
Part 2 - Division of Insurance
Chapter 24 - Risk Retention Groups and Purchasing Groups
Article 2 - Purchasing Groups
3 AAC 24.590 - Definitions
Current through February 24, 2025
As used in 3 AAC 24.300 - 3 AAC 24.590,
(1) "purchasing group" means any entity meeting the definition of a purchasing group in 15 U.S.C. 3901(a)(5), as amended as of October 27, 1986 (Liability Risk Retention Act);
(2) "transact" means the same as in AS 21.97.900;
(3) "transacting insurance" means to transact as defined in AS 21.97.900 relative to a subject or risk that is resident, located, or to be performed in this state.
As of Register 124 (January 1993) the regulations attorney corrected the parenthetical citation to the Liability Risk Retention Act of 1986 to the Liability Risk Retention Act.
In 2010 the revisor of statutes, acting under AS 01.05.031, renumbered former AS 21.90.900 as AS 21.97.900. As of Register 196 (January 2011), the regulations attorney made conforming technical revision under AS 44.62.125(b)(6), to 3 AAC 24.590, so that cross-references to former AS 21.90.900 now refer to the renumbered statute, AS 21.97.900.
Authority:AS 21.03.010
AS 21.06.090
