1994 Alaska Statutes
TITLE 21 INSURANCE
Chapter 21.81. TRUSTEED ASSETS OF ALIEN INSURERS
Sec. 21.81.140. SUBSTITUTION OF TRUSTEE.
(a) A new trustee or new trustees may be substituted for the original trustee or trustees of trusteed assets in the event of a vacancy or for other proper cause. The substitution shall be subject to the director's approval.
(b) If the trustees of trusteed assets are individuals, and if the number of the trustees is reduced to less than three by death, resignation, or otherwise, the director shall require that there be substituted for the trustees a bank or trust company in this state approved by the director.
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