(a) An insurer organized under the laws of another state and admitted to do business in this state may become a domestic insurer of this state by complying with the requirements of this title relative to the organization and licensing of a domestic insurer and by designating its principal place of business at a place in this state.
(b) A domestic insurer may, upon approval of the director, transfer its domicile to another state in which it is admitted to transact the business of insurance. Upon a transfer as described in this subsection, the insurer shall cease to be a domestic insurer of this state but shall be considered admitted to this state. The insurer shall meet the qualifications to remain admitted to this state for a period of three years or, if ordered by the director, a longer period. The director may approve a proposed transfer unless the transfer is not in the interest of the policyholders of the insurer or the insurance marketplace of this state.
(c) Upon transfer of domestic status to or from this state, the certificate of authority, appointments under AS 21.27.100, rates, and other items that the director allows, and that are in existence at the time the insurer is licensed to transact the business of insurance in this state, shall continue in full force and effect and the insurer shall remain duly qualified to transact the business of insurance in this state. Outstanding policies of a transferring insurer shall remain in full force and effect and shall be endorsed with the new name of the company, its new location, and any other information the director may require. A transferring insurer shall notify the director of the details of the proposed transfer 30 days before the effective date of the transfer and shall promptly file any resulting amendments to corporate documents filed or required to be filed with the director.
(d) A transfer of domestic status by merger, consolidation, or any other lawful method of combination must meet the requirements of AS 21.69.590 or 21.69.600. The certificate of authority, appointments under AS 21.27.100, rates, and other items that the director allows, and that are in existence at the time the insurer is licensed to transact the business of insurance in this state, shall continue in full force and effect, and the insurer shall remain duly qualified to transact the business of insurance in this state. Outstanding policies of a domestic insurer being merged, consolidated, or otherwise combined shall remain in full force and effect, and shall be endorsed with the new name of the company, its new location, and any other information the director may require.
(e) An insurer that is transferring its domicile to this state shall file its revised policy forms for approval under AS 21.42.
(f) A domestic insurer that is transferring its domicile to another state is not required to file policy forms at the time of transfer if the forms have already been approved under AS 21.42.
Structure Alaska Statutes
Chapter 69. Organization and Corporate Procedures
Sec. 21.69.010. Applicability of chapter.
Sec. 21.69.020. Applicability of general corporation statutes.
Sec. 21.69.030. Incorporation.
Sec. 21.69.040. Articles of incorporation.
Sec. 21.69.050. Amendment of articles of incorporation.
Sec. 21.69.060. Solicitation permit.
Sec. 21.69.070. Application for solicitation permit.
Sec. 21.69.080. Procedure upon application.
Sec. 21.69.090. Issuance of permit.
Sec. 21.69.100. Duration of permit.
Sec. 21.69.110. Permit as inducement prohibited.
Sec. 21.69.120. Solicitors' licenses.
Sec. 21.69.130. Modification, revocation of permit.
Sec. 21.69.150. Escrow of funds.
Sec. 21.69.160. Liability of organizers.
Sec. 21.69.170. Payment for subscriptions.
Sec. 21.69.180. Insurance applications.
Sec. 21.69.190. Failure to complete organization or to qualify.
Sec. 21.69.200. Subsequent financing.
Sec. 21.69.210. Penalty for exhibiting false accounts, etc.
Sec. 21.69.220. Initial qualifications of domestic mutuals.
Sec. 21.69.230. Formation of mutual insurer.
Sec. 21.69.240. Applications for insurance in formation of mutual insurer.
Sec. 21.69.250. Formation of mutuals.
Sec. 21.69.260. Failure to qualify.
Sec. 21.69.270. Additional kinds of insurance.
Sec. 21.69.280. Membership in mutuals.
Sec. 21.69.290. Bylaws of mutual.
Sec. 21.69.300. Bylaws of stock insurer.
Sec. 21.69.310. Meetings of stockholders or members.
Sec. 21.69.330. Corrupt practices.
Sec. 21.69.350. Participation of policyholders in election of directors.
Sec. 21.69.360. Bond of officers of mutual.
Sec. 21.69.370. Prohibited pecuniary interest of officials.
Sec. 21.69.380. Management and exclusive agency contracts.
Sec. 21.69.390. Home office and records.
Sec. 21.69.400. Vouchers for expenditures.
Sec. 21.69.410. Agreement not to sell property prohibited.
Sec. 21.69.420. Solicitations in other states.
Sec. 21.69.430. Contingent liability of mutual members.
Sec. 21.69.440. Levy of contingent liability.
Sec. 21.69.450. Enforcement of contingent liability.
Sec. 21.69.460. Nonassessable policies, mutual insurers.
Sec. 21.69.470. Nonassessable policies.
Sec. 21.69.480. Participating policies.
Sec. 21.69.490. Dividends to stockholders.
Sec. 21.69.500. Dividends to mutual policyholders.
Sec. 21.69.510. Illegal dividends.
Sec. 21.69.520. Borrowed surplus.
Sec. 21.69.530. Impairment of capital or assets.
Sec. 21.69.540. Assessment of stockholders or members.
Sec. 21.69.550. Directors' liability for losses during deficiency.
Sec. 21.69.560. Stock transfer during impairment of capital.
Sec. 21.69.570. Mutualization of stock insurers.
Sec. 21.69.580. Converting mutual insurer.
Sec. 21.69.590. Mergers and consolidations of stock insurers.
Sec. 21.69.600. Mergers and consolidations, mutual insurers.
Sec. 21.69.610. Reinsurance for stock insurers.
Sec. 21.69.620. Reinsurance for mutual insurers.
Sec. 21.69.630. Mutual member's share of assets on liquidation.
Sec. 21.69.640. Extinguishment of unused corporate charters.
Sec. 21.69.645. Redomestication.
Sec. 21.69.648. Voluntary surrender of certificate of authority.
Sec. 21.69.650. National emergency provisions.
Sec. 21.69.660. Adoption of emergency bylaws.
Sec. 21.69.670. Provisions in lieu of emergency bylaws.
Sec. 21.69.680. Succession of corporate officers during national emergency.
Sec. 21.69.690. Relocation of home office during national emergency.