{"data":{"id":"us-ak/as-21.69.200","jurisdiction":"us-ak","citation":"AS 21.69.200","heading":"Subsequent financing.","body":"(a) A domestic insurer, or insurance holding corporation, or stock corporation for financing operations of a mutual insurer, or attorney-in-fact corporation of a reciprocal insurer, after (1) it has received a certificate of authority, if an insurer; or (2) it has completed its initial organization and financing if a corporation other than an insurer, may not solicit or receive funds in exchange for a new issue of its corporate securities, other than through a stock dividend, until it has applied to the director for, and has been granted, a solicitation permit.\n(b) The director shall issue a permit unless the director finds that\n(1) the funds proposed to be secured are excessive in amount for the purpose intended;\n(2) the proposed securities or the manner of their distribution are inequitable; or\n(3) the issuance of the securities would jeopardize the interests of policyholders or the holders of other securities of the insurer or corporation.\n(c) A solicitation permit granted by the director shall be for the duration, and must contain the terms and be issued upon the conditions that the director may reasonably specify or require.","path":["Title 21. Insurance.","Chapter 69. Organization and Corporate Procedures."],"source_url":"https://www.akleg.gov/basis/statutes.asp#21.69.200","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:17:40Z","sha256":"3eafabc116b5ae0209e5fdcf3d22a3ae81df2348a7cf3c2bcaaae1c9abda315d","source_id":"us-ak","stale":false,"prev":"us-ak/as-21.69.190","next":"us-ak/as-21.69.210"},"notice":"GroundRules: Original legal text. Not legal advice."}