{"data":{"id":"us-ak/as-21.76.040","jurisdiction":"us-ak","citation":"AS 21.76.040","heading":"Financial provisions of agreements.","body":"(a) A cooperative agreement must include a provision requiring an annual determination by a casualty actuary who is a member of the American Academy of Actuaries that procedures for establishing reserves for losses of the joint insurance arrangement are actuarially sound.\n(b) A joint insurance arrangement shall be subject to an annual independent audit. The audit shall be conducted in accordance with generally accepted auditing standards and must include a review of the actuarial assumptions used for establishing the reserves under (a) of this section. The audit report must include certification from a casualty actuary who is a member of the American Academy of Actuaries that the actuarial assumptions continue to be sound and the level of the reserves are adequate.","path":["Title 21. Insurance.","Chapter 76. Joint Insurance Arrangements."],"source_url":"https://www.akleg.gov/basis/statutes.asp#21.76.040","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:17:40Z","sha256":"d4cef442f941ff252f7b47e6c9f241a1d272e29e5ebb2ee4b22790c33b825af3","source_id":"us-ak","stale":false,"prev":"us-ak/as-21.76.030","next":"us-ak/as-21.76.050"},"notice":"GroundRules: Original legal text. Not legal advice."}