(a) All unclaimed money that is subject to distribution and remains in the receiver's hands when the receiver is ready to apply to the court for discharge, including the amount distributable to a creditor, shareholder, member, or other person who is unknown and cannot be found, shall be deposited with the Department of Revenue and shall be paid, without interest, to the person entitled to receive it or to the person's legal representative upon proof satisfactory to the Department of Revenue of the person's right to it. Notwithstanding the provisions of AS 34.45, an amount on deposit with the Department of Revenue that is not claimed within six years after the discharge of the receiver is considered to be abandoned and shall, without further proceedings, be deposited in the general fund.
(b) All money retained for claims described in AS 21.78.280 and not distributed, shall, upon discharge of the receiver, be deposited with the Department of Revenue and paid in accordance with AS 21.78.260. Any amount remaining that, under AS 21.78.260, would revert to the undistributed assets of the insurer, shall be transferred to the Department of Revenue. Remaining amounts become the property of the state under (a) of this section, unless the director, in the director's discretion, petitions the court to reopen the liquidation under AS 21.78.297.
Structure Alaska Statutes
Chapter 78. Rehabilitation and Liquidation
Sec. 21.78.010. Jurisdiction of delinquency proceedings.
Sec. 21.78.020. Commencement of delinquency proceedings.
Sec. 21.78.030. Injunctions and orders.
Sec. 21.78.040. Grounds for rehabilitation.
Sec. 21.78.050. Grounds for liquidation.
Sec. 21.78.060. Grounds for conservation, foreign insurers.
Sec. 21.78.070. Grounds for conservation, alien insurers.
Sec. 21.78.080. Grounds for ancillary liquidation.
Sec. 21.78.090. Order of rehabilitation.
Sec. 21.78.100. Order of liquidation, domestic insurers.
Sec. 21.78.110. Order of liquidation, alien insurers.
Sec. 21.78.120. Order of conservation or ancillary liquidation of foreign or alien insurers.
Sec. 21.78.130. Conduct of delinquency proceedings against domestic and alien insurers.
Sec. 21.78.140. Conduct of delinquency proceedings against foreign insurers.
Sec. 21.78.150. Claims of nonresidents against domestic insurers.
Sec. 21.78.160. Claims against foreign insurers.
Sec. 21.78.170. Form of claim.
Sec. 21.78.180. Priority of certain claims.
Sec. 21.78.190. Attachment and garnishment of assets.
Sec. 21.78.200. Uniform Insurers Liquidation Act.
Sec. 21.78.210. Deposit of money collected.
Sec. 21.78.220. Exemption from fees.
Sec. 21.78.230. Borrowing on pledge of assets.
Sec. 21.78.240. Date rights fixed on liquidation.
Sec. 21.78.250. Fraudulent transfers before petition.
Sec. 21.78.251. Fraudulent transfer after petition.
Sec. 21.78.252. Voidable preferences and liens.
Sec. 21.78.253. Claims of holders of void or voidable rights.
Sec. 21.78.260. Priority of distribution.
Sec. 21.78.270. Setoffs and counterclaims.
Sec. 21.78.271. Recovery of premiums owed.
Sec. 21.78.272. Reinsurer's liability.
Sec. 21.78.280. Special claims.
Sec. 21.78.281. Special provisions for third-party claims.
Sec. 21.78.290. Notice to creditors and others.
Sec. 21.78.291. Duties of agents.
Sec. 21.78.292. Filing of claims.
Sec. 21.78.293. Receiver's recommendation to the court.
Sec. 21.78.294. Distribution of assets.
Sec. 21.78.295. Unclaimed and withheld money.
Sec. 21.78.296. Termination of proceedings.
Sec. 21.78.297. Reopening liquidation.
Sec. 21.78.298. Disposition of records during and after termination of liquidation.
Sec. 21.78.300. Report and petition for assessment.
Sec. 21.78.310. Order and levy of assessment.
Sec. 21.78.320. Assessment prima facie correct.