{"data":{"id":"us-ak/as-21.69.160","jurisdiction":"us-ak","citation":"AS 21.69.160","heading":"Liability of organizers.","body":"(a) The incorporators of an insurer or other corporation, or the persons proposing to form a reciprocal insurer, or a syndicate, shall be jointly and severally liable for its debts or liabilities until it has secured a certificate of authority, if an insurer, or has completed its organization if a corporation other than an insurer or a syndicate.\n(b) Any portion of funds received on account of stock or syndicate subscriptions which is allowed under the solicitation permit, may be applied concurrently toward the payment of promotion and organization expense theretofore incurred.","path":["Title 21. Insurance.","Chapter 69. Organization and Corporate Procedures."],"source_url":"https://www.akleg.gov/basis/statutes.asp#21.69.160","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:17:40Z","sha256":"698322b378e9a93dede44b28c4c9025f97157db5fa6bdbe347763633f66ca875","source_id":"us-ak","stale":false,"prev":"us-ak/as-21.69.150","next":"us-ak/as-21.69.170"},"notice":"GroundRules: Original legal text. Not legal advice."}