- (a) A nonresident licensee shall hold in a fiduciary capacity, under AS 21.27.360 and 3 AAC 23.500 - 3 AAC 23.690, money for contracts of insurance written and delivered in this state or insurance risks domiciled in this state.
- (b) Failure to comply with (a) of this section is a violation of AS 21.27.360.
(Eff. 8/29/90, Register 115; am 3/30/2003, Register 165)
Authority: AS 21.06.090, AS 21.27.350, AS 21.27.360