{"data":{"id":"us-ak/as-21.59.030","jurisdiction":"us-ak","citation":"AS 21.59.030","heading":"Qualifications for certificate of authority.","body":"The director may not issue a certificate of authority to be or act as an automobile service corporation and shall revoke an existing certificate of authority unless the corporation\n(1) if a newly formed corporation, possesses sufficient available working funds to pay all reasonably anticipated costs of acquisition of new business and operating expenses, other than losses, for a period of not less than six months following the date of issuance of the certificate of authority;\n(2) posts with the director a bond in the amount of $50,000, issued by a corporate surety authorized under this title to act as surety and conditioned upon the organization's faithful fulfillment of its contracts; and\n(3) fulfills all other applicable requirements of AS 21.59.010 — 21.59.090.","path":["Title 21. Insurance.","Chapter 59. Motor Vehicle Service Corporations and Contracts."],"source_url":"https://www.akleg.gov/basis/statutes.asp#21.59.030","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:17:40Z","sha256":"d2c8e4e80abeb5035a9057892b588e23f7830fa9c8086c0c16a91a590dc9027c","source_id":"us-ak","stale":false,"prev":"us-ak/as-21.59.020","next":"us-ak/as-21.59.040"},"notice":"GroundRules: Original legal text. Not legal advice."}