A foreign bank acting as a custodian, a United States custodian's foreign agent, or a foreign clearing corporation may only hold foreign securities or securities required by a foreign country in order for the insurer to do business in that country. A United States custodian must hold all other securities for the insurer.

(Eff. 8/31/2008, Register 187)

Authority: AS 21.06.090, AS 21.21.410