1995 Alaska Statutes
TITLE 21 INSURANCE
Chapter 21.21. INVESTMENTS
Sec. 21.21.310. FAILURE TO DISPOSE OF REAL ESTATE, PROPERTY, OR SECURITIES.
(a) Real estate, personal property, or securities lawfully acquired and held by an insurer after expiration of the period for disposal of them or any extension of the period granted by the director, as provided in AS 21.21.290 and 21.21.300, may not be allowed as an admitted asset of the insurer.
(b) The insurer shall immediately dispose of an ineligible investment unlawfully acquired by it, and the director may suspend or revoke the insurer's certificate of authority if the insurer fails to dispose of the investment within a reasonable time that the director may specify by order.
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