Title 21 — Insurance
53 chapters · 1,244 sections in this title.
AS 21.72.010 Applicability.
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(a) This chapter applies only to benevolent associations. (b) The provisions of this title do not apply to an association unless contained or referred to in this chapter.
AS 21.72.020 New benevolent associations prohibited.
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(a) A benevolent association may not transact or be authorized to transact business in this state unless it lawfully had authority to transact business as an association immediately before July 1, 1966. (b) A new benevolent association may not be organized or formed in this state…
AS 21.72.030 Amendments filed with director.
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Each benevolent association shall promptly file with the director a copy, certified to by its president and secretary, of each of the following: (1) if incorporated, any amendment of articles of incorporation or of bylaws; (2) if not incorporated, any amendment of articles of ass…
AS 21.72.040 Officers.
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(a) Each benevolent association shall be in charge of its officers, and may not have more than five officers. (b) The treasurer and any other officer having charge of funds of a benevolent association shall each be bonded in the amount of $5,000, executed to the state, joint and …
AS 21.72.050 Agents license.
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Agents for a benevolent association may be appointed in accordance with AS 21.27, and shall be subject to the applicable provisions of that chapter, except as provided in AS 21.72.060. An agent may not be appointed if there are less than three officers in charge of the associatio…
AS 21.72.060 Officers as agents.
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No more than five officers of a benevolent association may act for the association without obtaining a license as an agent. The officers shall be subject to the jurisdiction of the director in the same manner as though they were licensed as agents under AS 21.27.
AS 21.72.070 Receipts for payment to association.
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Every benevolent association shall issue a receipt or other evidence of payment to each person making a payment of any kind to the association.
AS 21.72.080 Minimum membership.
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Each benevolent association shall have at all times not less than 200 members in good standing.
AS 21.72.090 Expenses.
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(a) The total expenses of a benevolent association during a calendar year may not exceed the larger of: (1) 10 percent of the total amount received during the year, whether as assessments, dues, donations or by whatever name called, except fees collected for new memberships; or (…
AS 21.72.100 Payments of death claims.
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(a) Each completed proof of claim for death of a member of a benevolent association shall be assigned a number by the association in consecutive order of receipt for each calendar year. (b) Payment in full on final settlement of death benefits shall be made by the association to …
AS 21.72.110 Assessment for death benefit.
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(a) Within 30 days after a benevolent association receives a completed proof of claim for death of a member, it must mail to each of its members in good standing an assessment notice stating (1) the name, date, and place of death of the deceased member; (2) the number of the proo…
AS 21.72.120 Annual statement.
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(a) In addition to compliance with AS 21.09.200, the annual statement of a benevolent association must exhibit the following items and facts: (1) the name and business address of the association; (2) the names and addresses of the officers of the association; (3) the number of me…
AS 21.72.125 Quarterly statements.
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The director may require a benevolent association to file quarterly financial statements as provided in AS 21.09.205. The statements must exhibit the items and facts required under AS 21.72.120(a).
AS 21.72.130 Benevolent association defined.
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(a) A corporation, association, or society, or by whatever name called, that issues a certificate, policy, membership agreement, or makes a promise or agreement with its members, whereby, upon the death of a member, money or other benefit, charity, aid, or relief is to be paid, p…
AS 21.72.140 Member defined.
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A “member” or “member in good standing” is an individual who must contribute to a benevolent association upon notice of assessment.
AS 21.72.150 Membership contract.
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(a) A “membership contract” is a certificate, policy, membership agreement, by whatever name called, or a promise or agreement, of a benevolent association with any or all of its members, whereby money or other benefit, charity, aid, or relief is to be paid, provided, or rendered…
AS 21.72.160 Officer defined.
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“Officer” is any of the individuals having supervision and control of a benevolent association, and engaging in the management and the prosecution of the business thereof, whether designated as officers, trustees, comptrollers, managers, or by whatever name called.
AS 21.72.170 Other provisions applicable.
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In addition to the provisions contained in the chapter, other chapters and provisions of this title shall apply to benevolent associations, to the extent applicable, as follows: (1) AS 21.03; (2) AS 21.06; (3) AS 21.09.010, 21.09.050, 21.09.100, and 21.09.130 — 21.09.190; (4) AS …