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Code · Alaska · Title 21 · Chapter 24

Sec. 21.24.020. Purpose of deposits.

116 words·~1 min read·/ak/title-21/chapter-24/21-24-020

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Sec. 21.24.020. Purpose of deposits.
The deposits shall be held for purposes as follows:
(1)deposits made in this state under AS 21.09.090 shall be held for the purpose stated in that section;
(2)a deposit made in this state by a domestic insurer transacting insurance in another state, province, or country, in accordance with the laws of the other state, province, or country, shall be held for the protection of all creditors or for the other purpose or purposes that may be specified under those laws;
(3)deposits required under AS 21.09.270 shall be held for the purposes required by the retaliatory law and specified in the director's order requiring the deposit to be made.
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