(a) Two or more persons involved in or affected by an accident as described in AS 28.20.050 may at any time enter into a written agreement for the payment of an agreed amount with respect to their claims because of bodily injury, death, or property damage arising from the accident. The agreement may provide for payment in installments. The parties may file a signed copy of the agreement with the department.
(b) If proof of financial responsibility is provided and to the extent provided by the written agreement filed with it, the department may not require the deposit of security and shall terminate a previous order of suspension, or if security was deposited, the department shall immediately return the security to the depositor or the personal representative of the depositor.
(c) If there is a default in a payment under the agreement, upon notice of default the department shall take action suspending the license of the person in default as is appropriate in case of failure of the person to deposit security when required under this chapter.
(d) The suspension remains in effect and the license may not be restored until
(1) security is deposited as required under this chapter in the amount the department determines; or
(2) when, following default and suspension, the person in default pays the balance of the agreed amount; or
(3) one year elapses following the effective date of the suspension and evidence satisfactory to the department is filed with it that during the period no action at law upon the agreement is pending.
Structure Alaska Statutes
Chapter 20. Motor Vehicle Safety Responsibility Act
Sec. 28.20.010. Declaration of purpose.
Sec. 28.20.020. Administration.
Sec. 28.20.050. Application of chapter.
Sec. 28.20.060. Exceptions to requirement of security.
Sec. 28.20.070. Requirements as to policy or bond.
Sec. 28.20.080. Form and amount of security.
Sec. 28.20.090. Suspension for failure to deposit security.
Sec. 28.20.100. Release from liability.
Sec. 28.20.110. Adjudication of nonliability.
Sec. 28.20.120. Agreements for payment of damages.
Sec. 28.20.130. Payment upon judgment.
Sec. 28.20.140. Termination of security requirement.
Sec. 28.20.150. Duration of suspension.
Sec. 28.20.170. Authority of department to decrease amount of security.
Sec. 28.20.180. Correction of action of department.
Sec. 28.20.190. Custody of security.
Sec. 28.20.200. Disposition of security.
Sec. 28.20.210. Return of deposit.
Sec. 28.20.220. Matters not to be evidence in civil suits.
Sec. 28.20.230. Proof of financial responsibility for the future.
Sec. 28.20.240. Proof required when driving privilege is restricted.
Sec. 28.20.250. Action in respect to unlicensed person.
Sec. 28.20.260. When proof required after accidents.
Sec. 28.20.270. Suspension for nonpayment of judgments.
Sec. 28.20.280. When courts to report nonpayment of judgments.
Sec. 28.20.290. Further action with respect to nonresidents.
Sec. 28.20.300. Exception for government vehicles.
Sec. 28.20.310. Exception when consent granted by judgment creditor.
Sec. 28.20.320. Exceptions when insurer liable.
Sec. 28.20.325. Exemption for certain employee-drivers; applicability to employer.
Sec. 28.20.330. Suspension to continue until judgments paid and proof given.
Sec. 28.20.340. Driving while license cancelled, suspended, or revoked.
Sec. 28.20.360. Payments sufficient to satisfy requirements.
Sec. 28.20.370. Installment payment of judgments; default.
Sec. 28.20.380. Registration and operator's rights limited by extent of proof.
Sec. 28.20.390. Proof by persons who do not own a vehicle.
Sec. 28.20.400. Self-insurers.
Sec. 28.20.410. Certificate of insurance as proof.
Sec. 28.20.420. Certificate furnished by nonresident as proof.
Sec. 28.20.430. Default by nonresident insurer.
Sec. 28.20.440. Motor vehicle liability policy defined; required provisions.
Sec. 28.20.445. Uninsured and underinsured motorists coverage.
Sec. 28.20.450. Notice of cancellation or termination of certified policy.
Sec. 28.20.460. Chapter not to affect other policies.
Sec. 28.20.470. Bond as proof.
Sec. 28.20.480. Action on bond.
Sec. 28.20.500. Owner may give proof for others.
Sec. 28.20.510. Substitution of proof.
Sec. 28.20.520. Other proof may be required.
Sec. 28.20.530. Application of deposit.
Sec. 28.20.540. Duration, cancellation, and return of proof.
Sec. 28.20.550. Transfer of registration to defeat purpose of chapter prohibited.
Sec. 28.20.560. Surrender of license and registration, and false affidavits.
Sec. 28.20.580. Assigned risk plans.
Sec. 28.20.590. Past application of chapter.
Sec. 28.20.600. Chapter does not prevent other process.
Sec. 28.20.610. Provisions of chapter apply throughout state.