Title 21, Insurance
53 chapters · 1,250 sections in this title.
AS 21.84.005 Representative form of government.
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(a) A society has a representative form of government if (1) the society has a supreme governing body constituted as described in (b) or (c) of this section; (2) officers of the society are elected either by the supreme governing body or by the board of directors; (3) only benefi…
AS 21.84.010 Chapter exclusive. [Repealed, § 36 ch 96 SLA 1997.]
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[Repealed or reserved.]
AS 21.84.015 Purposes and powers.
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(a) A society shall operate for the benefit of members and their beneficiaries by (1) providing benefits as specified in AS 21.84.201, and (2) operating for a social, intellectual, educational, charitable, benevolent, moral, fraternal, patriotic, or religious purpose for the bene…
AS 21.84.020 Exempted societies. [Repealed, § 36 ch 96 SLA 1997.]
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Article 2. Membership.
AS 21.84.025 Qualifications for membership.
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(a) A society shall specify in its laws or rules (1) eligibility standards for each class of membership, but, if benefits are provided on the lives of children, the minimum age for adult membership shall be set at not less than 15 years of age and not more than 21 years of age; (…
AS 21.84.030 Annual license. [Repealed, § 36 ch 96 SLA 1997.]
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[Repealed or reserved.]
AS 21.84.035 Location of office; meetings; communications to members; grievance procedures.
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(a) The principal office of a domestic society must be located in this state. The meetings of the supreme governing body of a society may be held in a state, district, province, or territory in which the society has at least one subordinate lodge or in another location as determi…
AS 21.84.040 Foreign or alien society. [Repealed, § 36 ch 96 SLA 1997.]
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[Repealed or reserved.]
AS 21.84.045 No personal liability; indemnity.
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(a) The officers and members of the supreme governing body or a subordinate body of a society are not personally liable for benefits provided by a society. (b) A society shall indemnify and reimburse a person for expenses reasonably incurred by, and liabilities imposed upon, that…
AS 21.84.050 Suspension, revocation, or refusal of license of foreign or alien society. [Repealed, § 36 ch 96 SLA 1997.]
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[Repealed or reserved.]
AS 21.84.055 Waiver.
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Article 3. Governance. The laws of the society may provide that a subordinate body or its subordinate officers or members may not waive any provision of the laws of the society. The provision is binding on the society and every member and beneficiary of a member.
AS 21.84.059 Amendments to laws.
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(a) A domestic society may amend its laws in accordance with its provisions by action of its supreme governing body at a regular or special meeting or, if its laws provide, by referendum. The referendum may be held in accordance with the provisions of its laws by the vote of the …
AS 21.84.060 Organization.
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The organization of a domestic society organized on or after January 1, 1998, shall be formed as follows: Seven or more citizens of the United States, a majority of whom are citizens of this state, who desire to form a fraternal benefit society, may make, sign, and acknowledge be…
AS 21.84.070 Filing articles and documents.
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The articles of incorporation, certified copies of the domestic society's laws and rules, copies of all proposed forms of certificates, applications, and circulars to be issued by the society, and a bond conditioned upon the return to applicants of the advanced payments if the or…
AS 21.84.080 Time for completing organization.
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A preliminary certificate of authority is not valid after one year from its date or after such further period, not exceeding one year, as may be authorized by the director upon cause shown, unless the 500 applicants hereinafter required have been secured and the organization has …
AS 21.84.090 Initial solicitations and qualifications.
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Upon receipt of a preliminary certificate of authority from the director, the domestic society may solicit members for the purpose of completing its organization, shall collect from each applicant the amount of not less than one regular monthly premium in accordance with its tabl…
AS 21.84.100 Certificate of authority.
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The director may make the examination and require further information the director considers advisable. Upon presentation of satisfactory evidence that the domestic society has complied with all the provisions of law, the director shall issue to the society a certificate of autho…
AS 21.84.110 Constitution and laws. [Repealed, § 36 ch 96 SLA 1997.]
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[Repealed or reserved.]
AS 21.84.120 Corporate powers retained.
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An incorporated society authorized to transact business in this state on January 1, 1998, may not be required to reincorporate.
AS 21.84.130 Existing voluntary associations.
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(a) After July 1, 1967, an unincorporated or voluntary association may not be permitted to transact business in this state as a fraternal benefit society. (b) [Repealed, § 36 ch 96 SLA 1997.] (c) [Repealed, § 36 ch 96 SLA 1997.]
AS 21.84.140 Secs. 21.84.140 — 21.84.160. Articles of incorporation, constitution, and laws; waiver; location of office. [Repealed, § 36 ch 96 SLA 1997.]
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[Repealed or reserved.]
AS 21.84.170 Institutions.
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(a) It is lawful for a society to create, maintain, and operate organizations to operate not for profit institutions to further the purposes permitted by AS 21.84.015(a)(2). The institutions may provide services free or at a reasonable charge. Real or personal property owned, hel…
AS 21.84.175 Reinsurance.
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(a) A domestic society may, by a reinsurance agreement, cede an individual risk or risks in whole or in part to an insurer, other than another fraternal benefit society, that has the power to make reinsurance and that is authorized to do business in this state or, if not authoriz…
AS 21.84.180 Qualifications for membership. [Repealed, § 36 ch 96 SLA 1997.]
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[Repealed or reserved.]
AS 21.84.185 Consolidations and mergers.
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(a) A domestic society may consolidate or merge with another society by complying with the provisions of this section. It shall file with the director (1) a certified copy of the written contract containing in full the terms and conditions of the consolidation or merger; (2) a sw…
AS 21.84.190 Member's share of deficiency. [Repealed, § 36 ch 96 SLA 1997.]
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[Repealed or reserved.]
AS 21.84.195 Conversion to a mutual life insurance company.
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A domestic fraternal benefit society may be converted and licensed as a mutual life insurance company by compliance with the applicable requirements of AS 21.69 if the plan of conversion has been approved by the director. A plan of conversion shall be prepared in writing by the b…
AS 21.84.200 Benefits. [Repealed, § 36 ch 96 SLA 1997.]
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Article 4. Contractual Benefits.
AS 21.84.201 Benefits.
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(a) A society may provide the following contractual benefits in any form: (1) death benefits; (2) endowment benefits; (3) annuity benefits; (4) temporary or permanent health care benefits; (5) hospital, medical, or nursing benefits; (6) monument or tombstone benefits to the memor…
AS 21.84.210 Secs. 21.84.210 , 21.84.220. Benefit on lives of children; nonforfeiture, benefits, cash surrender values, certificate loans and other options. [Repealed, § 36 ch 96 SLA 1997.]
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[Repealed or reserved.]
AS 21.84.230 Beneficiaries.
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(a) The owner of a benefit contract shall have the right at all times to change the beneficiary or beneficiaries in accordance with the laws or rules of the society unless the owner waives this right by specifically requesting in writing that the beneficiary designation be irrevo…
AS 21.84.240 Benefits not attachable.
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Money or other benefit, charity, relief, or aid to be paid, provided, or rendered by a society is not liable to attachment, garnishment, or other process, or to be seized, taken, appropriated, or applied by a legal or equitable process or operation of law to pay a debt or liabili…
AS 21.84.250 No personal liability. [Repealed, § 36 ch 96 SLA 1997.]
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[Repealed or reserved.]
AS 21.84.255 The benefit contract.
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(a) A society authorized to do business in this state shall issue to each owner of a benefit contract a certificate specifying the amount of benefits provided under the contract. The certificate, together with any riders or endorsements attached to it, the laws of the society, th…
AS 21.84.260 The contract. [Repealed, § 36 ch 96 SLA 1997.]
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[Repealed or reserved.]
AS 21.84.265 Nonforfeiture benefits, cash surrender values, certificate loans, and other options.
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(a) For certificates issued before one year after the January 1, 1998, the value of a paid-up nonforfeiture benefit and the amount of a cash surrender value, loan, or other option granted shall comply with the provisions of law applicable on December 31, 1997. (b) For certificate…
AS 21.84.270 Standard provisions. [Repealed, § 36 ch 96 SLA 1997.]
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Article 5. Financial.
AS 21.84.275 Investments.
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A society shall invest its funds only in investments authorized by the laws of this state for the investment of assets of life insurers and subject to the limitations on the investment of assets of life insurers. A foreign or alien society permitted or seeking to do business in t…
AS 21.84.280 Prohibited provisions. [Repealed, § 36 ch 96 SLA 1997.]
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[Repealed or reserved.]
AS 21.84.290 Premiums defined. [Repealed, § 223 ch 67 SLA 1992.]
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[Repealed or reserved.]
AS 21.84.300 Secs. 21.84.300 , 21.84.310. Accident and health insurance and total and permanent disability insurance certificates; reinsurance. [Repealed, § 36 ch 96 SLA 1997.]
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[Repealed or reserved.]
AS 21.84.320 Funds.
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(a) All assets shall be held, invested, and disbursed for the use and benefit of the society, and a member or beneficiary may not have or acquire individual rights or become entitled to an apportionment or the surrender of a part of the assets, except as provided in the benefit c…
AS 21.84.330 Investments. [Repealed, § 36 ch 96 SLA 1997.]
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[Repealed or reserved.]
AS 21.84.335 Applicability of other code provisions.
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(a) Except as provided in this section, societies are governed by this chapter and are exempt from all other provisions of the insurance laws of this state for all purposes, including governmental relations with the state. (b) In addition to the provisions of this chapter, the fo…
AS 21.84.340 Secs. 21.84.340 — 21.84.390. Annual statement; annual valuation of certificates; failure to file annual statement; examination of domestic societies; examination of foreign and alien societies; no adverse publications. [Repealed, § 36 ch 96 SLA 1997.]
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[Repealed or reserved.]
AS 21.84.400 Taxation.
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Article 6. Regulation. Every society organized or licensed under this chapter is a charitable and benevolent institution, and all of its funds shall be exempt from every state, or other political subdivision, tax other than taxes on real estate and office equipment.
AS 21.84.410 Secs. 21.84.410 — 21.84.450. Licensing of agents; license required; qualifications and application; notice of appointment; termination of appointment. [Repealed, § 223 ch 67 SLA 1992.]
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[Repealed or reserved.]
AS 21.84.455 Valuation.
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(a) Standards of valuation for certificates issued before January 1, 1999 shall be those provided by the laws applicable immediately before January 1, 1998. (b) The minimum standards of valuation for certificates issued on or after January 1, 1999 shall be based on the following …
AS 21.84.460 Suspension and revocation of license. [Repealed, § 223 ch 67 SLA 1992.]
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[Repealed or reserved.]
AS 21.84.465 Reports.
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(a) Reports shall be filed in accordance with the provisions of this section. (b) A society transacting business in this state shall annually, before March 2, unless the time has been extended by the director for cause shown, file with the director a true statement of the society…