Sec. 21.34.170. Quarterly reports, summary of exported business.

190 words·~1 min read·/ak/title-21/chapter-34/21-34-170

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)A surplus lines broker shall file with the director, on forms prescribed by the director, a report of all surplus lines insurance, by type of insurance as required to be reported in the annual statement that must be filed with the director by admitted insurers. The report must include all surplus lines insurance transactions during the preceding period showing the aggregate gross premiums written, the aggregate return premiums, the amount of aggregate tax remitted to this state, and the amount of aggregate tax remitted to each other state for which an allocation is made under AS 21.34.180 . The forms shall be filed quarterly on March 1, June 1, September 1, and December 1 of each year.

(b)Instead of the report required under

(a)of this section, the director may order that evidence of insurance be filed with surplus lines association and that the association file periodic reports regarding insurance transactions to the director.

(c)The surplus lines broker shall pay a penalty for late filing of the report, according to the rate established in regulations adopted by the director.