{"data":{"id":"us-ak/as-21.36.321","jurisdiction":"us-ak","citation":"AS 21.36.321","heading":"Misrepresentation in financial institution sales.","body":"In the sale of insurance by a financial institution, a person may not engage in any practice or use an advertisement that may tend to mislead or deceive a consumer or cause a consumer to erroneously believe that\n(1) the insurance is backed by or a return on the insurance is guaranteed by the state, the federal government, the person, or the Federal Deposit Insurance Corporation;\n(2) the state or federal government\n(A) will pay a claim under an insurance contract that is an obligation of or was sold by the person;\n(B) is responsible for the insurance sales activities of the person; or\n(C) guarantees the credit of the person;\n(3) for insurance that contains investment risk, the insurance does not contain investment risk, the principal may not be lost, or the value of the insurance may not decline;\n(4) the lending of money, extension of credit, or a renewal of a loan is conditioned on the purchase of insurance from the person and that insurance may not be purchased from another source.","path":["Title 21. Insurance.","Chapter 36. Trade Practices and Frauds.","Article 3. Financial Institutions; Loans; Credit."],"source_url":"https://www.akleg.gov/basis/statutes.asp#21.36.321","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:17:40Z","sha256":"40020b3d4433ae6dc9287e873a3337592c9d70f5516b5020ac3449d1a810b3c6","source_id":"us-ak","stale":false,"prev":"us-ak/as-21.36.320","next":"us-ak/as-21.36.323"},"notice":"GroundRules: Original legal text. Not legal advice."}