Upon the liquidation of a domestic reciprocal insurer, its assets remaining after discharge of its indebtedness and policy obligations, the return of contributions of the attorney-in-fact or other persons to its surplus made as provided in AS 21.75.140, and the return of an unused premium, savings, or credits then standing on subscribers' account, shall be distributed to its subscribers who were subscribers within the 12 months before the last termination of its certificate of authority, according to a reasonable formula that the director may approve.
Structure Alaska Statutes
Chapter 75. Reciprocal and Cooperative Insurers
Article 1. Reciprocal Insurers.
Sec. 21.75.010. Applicability.
Sec. 21.75.020. Insuring powers of reciprocals.
Sec. 21.75.040. Attorney-in-fact.
Sec. 21.75.045. Licensing of attorneys-in-fact.
Sec. 21.75.050. Surplus funds required.
Sec. 21.75.055. Surplus funds for cooperative insurers.
Sec. 21.75.060. Organization of reciprocal insurer.
Sec. 21.75.070. Certificate of authority.
Sec. 21.75.080. Authority of attorney-in-fact.
Sec. 21.75.090. Modifications.
Sec. 21.75.100. Attorney-in-fact's bond.
Sec. 21.75.110. Action on bond.
Sec. 21.75.115. Examination of an attorney-in-fact.
Sec. 21.75.120. Service of process.
Sec. 21.75.130. Annual statement.
Sec. 21.75.135. Quarterly statements.
Sec. 21.75.140. Contributions to insurer.
Sec. 21.75.150. Determination of financial condition.
Sec. 21.75.160. Who may be subscribers.
Sec. 21.75.170. Subscriber's advisory committee.
Sec. 21.75.180. Subscribers' liability.
Sec. 21.75.190. Subscribers' liability on judgment.
Sec. 21.75.210. Time limit for assessments.
Sec. 21.75.220. Aggregate liability.
Sec. 21.75.230. Nonassessable policies.
Sec. 21.75.240. Distribution of savings.
Sec. 21.75.250. Subscribers' share in assets.
Sec. 21.75.260. Merger or conversion.
Sec. 21.75.270. Financial impairment; determination of insolvency.